The first US paycheck is often smaller than people expect. Your salary divided by the number of pay periods is your gross pay; several deductions come out before it reaches your bank.
The lines on your pay stub
| Line | What it is |
|---|---|
| Gross pay | Earnings before anything is taken out |
| Federal income tax | Withheld based on your W-4 |
| State and local tax | Depends on where you live and work |
| Social Security & Medicare | FICA payroll taxes |
| Health, dental, vision | Your share of insurance premiums |
| 401(k) | Your retirement contributions |
| Net pay | What you actually receive |
How often you’re paid
Many employers pay every two weeks, which means 26 paychecks a year and two months with three paychecks. Others pay twice a month or monthly.
Wrong amount?: If too much or too little tax is withheld, submit a new W-4 through HR. The IRS withholding estimator can help you choose.
