There are voluntary deductions (e.g., health insurance premiums, health savings account contributions, etc.) and involuntary deductions (e.g., child support), both of which you’ll need to factor into the final net pay for each employee. 2 of the most common payroll deductions are: 401(k...
An employee may be subject to wage garnishments for back child-support payments, delinquent student loans, unpaid taxes and/or credit card debt. In these instances, you’ll receive a notice from the federal or state government alerting you to the required wage garnishments. The notice will ind...
A living wage is a socially acceptable level of income that provides adequate coverage for basic necessities such as food, shelter, child services, and healthcare. The living wage standard allows for no more than 30% of income to be spent on rent or a mortgage and is sufficiently higher tha...
Your gross pay can also be subject towage garnishmentif a lender sues you in court for an unpaid debt and gets a judgment against you for the amount you owe. Sometimes, obligations like child support and alimony can be withheld by court order as well. Many of these deductions (except for ...