Pay Stub Review

In simpler terms, a pay stub is a document that shows your earnings, taxes, and any other deductions made by your employer. Reviewing your pay stub can help you better understand your take-home pay and any benefits you may receive from your employer.

This flowchart can help guide you through the process of reviewing your pay stub. It covers:

Checking the number of hours you worked and any vacation time taken.

Understanding your tax withholdings, which are the amount of money taken out of your paycheck for federal, state, and local taxes.

Identifying any voluntary payroll deductions you may have, such as contributions to a retirement plan or health insurance premiums.

Understanding the difference between pre-tax and after-tax expenses, and how they affect your take-home pay.

Recognizing any benefits provided by your employer, such as health insurance or retirement savings contributions.

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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.