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Gross Pay

 

~Amount of money earned before deductions 

Net Worth

 

~Amount of money you take home after deductions

Deductions

 

~Money withheld from by your employer

W-4 FORM:

This is used by your employer to withhold the proper amount of federal income tax from your paycheck. 

 

W-2 FORM

This reports the amount of federal, state and other taxes withheld from your paycheck.

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