What is a Company EIN and why does it appear on a pay stub?

Category: Understanding Paystubs

A Company EIN (Employer Identification Number) is a unique nine-digit number assigned by the IRS to a business for tax reporting purposes. It acts like a...

Is a Company EIN the same as a Social Security Number (SSN)?

Category: Understanding Paystubs

No, a Company EIN (Employer Identification Number) is not the same as a Social Security Number (SSN).  Key Differences Between EIN and SSN: ...

Why does the pay stub reflect information from the 2020 Form W-4? 

Category: Understanding Paystubs

The IRS redesigned Form W-4 in 2020 to make federal income tax withholding more accurate and easier to understand. Since then, all new...

What’s the difference between the old W-4 form and the 2020 version on my pay stub 

Category: Understanding Paystubs

The IRS updated Form W-4 in 2020 to improve the accuracy of federal income tax withholding. This change directly impacts the federal tax...

What is a deposit slip and why might it be added to a pay stub? 

Category: Understanding Paystubs

A deposit slip is a record of funds deposited directly into an employee’s bank account, often used alongside pay stubs to confirm payroll...

What is a pay schedule and how does it affect my paycheck? 

Category: Understanding Paystubs

A pay schedule is the frequency with which an employer pays employees. Common pay schedules include weekly, bi-weekly (every two weeks), semi-monthly...

What does FICA mean on my pay stub? 

Category: Understanding Paystubs

FICA stands for the Federal Insurance Contributions Act It’s a federal payroll tax that helps fund Social Security and Medicare programs. Both...

What does “Exempt” mean if it shows on a pay stub? 

Category: Understanding Paystubs

An exempt employee is one who is not entitled to overtime pay under the Fair Labor Standards Act (FLSA) and is typically paid a fixed salary. On a pay...

What’s the Difference Between Medicare and Social Security on a Pay Stub? 

Category: Understanding Paystubs

Both Medicare and Social Security are part of the FICA tax, but they serve different purposes and are withheld at different...

What’s the difference between deductions and withholdings on a pay stub? 

Category: Understanding Paystubs

On a pay stub, the terms deductions and withholdings may look similar but they serve different purposes.  Key...

Close Search Window