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Name Date Hour 1. Take home pay is also called: A. Disposable income B. Fixed income C. Net income D. Gross income2. What is a 401(K) plan? A. A portion of salary deducted from net pay and placed
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Take-home pay is the amount of money an employee receives after deductions and taxes have been taken out of their gross pay.
Employers are required to calculate and report employees' take-home pay.
To fill out take-home pay, employers need to calculate the deductions and taxes taken out of employees' gross pay.
The purpose of take-home pay is to show employees the amount of money they will actually receive in their paychecks.
Take-home pay must include deductions for taxes, insurance, retirement contributions, and any other withholdings.
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