Recent Examples of take-home pay from the Web
These are some of the main reasons that coverage of the GOP tax bill has been negative, despite the upfront increase in take-home pay for the vast majority of Americans.
By February, workers should begin receiving more take-home pay because the tax cut means that a lesser portion of their income will be withheld for taxes.
Republicans are hoping — indeed, bragging — that millions of households will be gratified to see higher take-home pay in their paychecks starting early in the year, thanks to the tax bill signed by Trump just before Christmas.
So even though the coming tax cuts will provide a bit of a lift to many workers’ take-home pay, consumer spending growth may be less-than stellar in the year to come.
The data only reflect the take-home pay of federal aid recipients who completed their programs, but many applicants for relief may never have finished school.
But a year later, in June 2016, commissioners voted 6-2 to increase their take-home pay from $30,252 to $43,371.
Many families, but not all, would see more money in their take-home pay.
In addition to direct relief for working families, our tax plan will also provide for the kind of economic growth needed to give hardworking Americans access to new jobs and opportunities and increase their take-home pay.
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.
First Known Use of take-home pay
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
Seen and Heard
What made you want to look up take-home pay? Please tell us where you read or heard it (including the quote, if possible).