Co-Authored By:
Asked by: Ronna Carmichael
personal finance personal taxesWhat is money earned through employment?
Furthermore, how does a salary paycheck work?
Salaried workers are paid a set amount ofmoney each pay period, generally regardless of the hours worked,rather than being paid an hourly wage for actual hours worked.Paychecks are calculated by dividing the yearly wage by thenumber of pay periods in a year.
In this manner, what is a salary job?
A salary employee (also known as a salariedemployee) is a worker who is paid a fixed amount of money orcompensation (also known as a salary) by an employer. Forexample, a salaried employee might earn $50,000/year.
YTD is calculated based on your employees'gross incomes. Gross income is the amount anemployee earns before taxes and deductions are taken out.YTD can also include the money paid to your independentcontractors.