Payroll Deductions
Payroll deductions are payments withheld from an employee’s paycheck by the employer. Examples include: Federal and state income taxes Insurance premiums Retirement contributions Wage garnishments Medicare and social security taxes Most payroll deductions are voluntary and can be taken out of a paycheck on a pre tax or post-tax basis. Taxes and wage garnishments, on the other hand, are mandatory and employers who fail to accurately withhold these …