Recent Examples of take-home pay from the Web
This new law is making a big difference in the lives and take-home pay of Americans.
In a Medium post, Lyft COO Jon McNeill says that hub expansion is an effort to use the company’s size and scale to increase take-home pay.
Teachers from around the state were on hand to demand better salaries as lawmakers under the dome were set to debate a pension reform measure to cut retirement benefits as well as take-home pay.
Corrections & Amplifications Changes to withholding tables used by employers sometimes raise take-home pay too much.
Ninety percent of workers are getting an increase in their take-home pay, Treasury Secretary Steven Mnuchin estimated, after employers started withholding less money starting in February.
In 2018, the new withholding tables should boost this family's take-home pay by $8,426, according to estimates by the Tax Institute at H&R Block — a noticeable $702 more per month.
Felker said halted production there has 4,000 union workers drawing 80 percent of their take-home pay.
Gains in labor productivity can allow employers to boost workers’ take-home pay, but the recent trend has been historically weak.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'take-home pay.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of TAKE-HOME PAY
What It Is
Take home pay is the portion of one's salary left after all payroll taxes have been deducted.
How It Works
John Doe has a salary of $100,000. He is paid 26 times per year (every other Friday). The federal and state payroll taxes (Social Security, Medicare, unemployment, and federal withholding) amount to, say, 10% of his salary.
John Doe's salary divided by 26 paychecks equals $3,846.15 per paycheck. However, because John Doe has payroll taxes withheld, his take home pay is actually 90% of that, or $3,461.53.
Why It Matters
Understanding the difference between salary and take home pay is important for anyone trying to create and live on a household budget. Taxes are not the only thing that can affect take home pay. If a person is having alimony, child support, retirement plan contributions, or other money withheld from his or her paycheck, these things will also affect the person's take home pay.
TAKE-HOME PAY Defined for English Language Learners
Definition of take-home pay for English Language Learners
: the amount of money that a person earns after taxes and other amounts have been subtracted
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