Pay stub basics
This is the total amount you earn before any deductions
Gross pay
The number of hours worked multiplied by the hourly rate equals this
regular pay
This tax funds retirement benefits for workers in the U.S.
Social security tax
What does YTD stand for?
Year to date
The total amount you’ve earned this year so far
Year to date earnings
This is the amount you take home after deductions are subtracted
Net pay
Pay for working more than 40 hours a week is called this
Overtime pay
This tax funds healthcare for people over 65
Medicare tax
This shows the total amount of money earned since the start of the year
YTD gross pay
The date a paycheck is issued
Pay date
This shows the time period the paycheck covers
The pay period
If you earn $20/hour and work 45 hours, the extra 5 hours are paid at this rate.
time and a half
This tax is collected by the federal government based on your income
Federal income tax
This shows the total amount taken for deductions since January 1
Year to date deuctions
The time period the paycheck covers
pay period
This is the date you actually receive your check
Pay date
This term describes pay before overtime, bonuses, or deductions
base pay
This type of deduction is taken for medical, dental, or vision coverage
Health insurance
If your pay stub says YTD net pay is $15,000, that means you’ve earned this much after deductions this year
15,000 take home pay
Where you find your employer’s name and address
Tax withholding section
This part of the pay stub lists taxes, insurance, and other amounts taken from your pay.
Deductions
This section of a pay stub breaks down your regular hours, overtime, and any extra earnings
Earnings section
This tax is collected by your state government based on your income
State income tax
If you’ve earned $10,000 so far this year and paid $2,000 in taxes, your YTD net pay is this
8,000
Where you find your employer’s name and address
employer information section