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Payroll deductions are any payments an employer withholds from employees’ paychecks. These deductions are the difference between gross pay and net pay — an employee’s take-home pay is what is left after deductions have been withheld. There are both voluntary and mandatory payroll deductions. Understanding the difference is especially important for small business owners who may not have large teams dedicated to payroll issues.
Mandatory deductions include:
Some common voluntary payroll deductions include:
Ascentis' powerful payroll software can help you manage all your payroll deduction needs.