Of your many responsibilities as a small business owner, ensuring that your employees’ pay is calculated accurately ranks near the top of the list. That includes withholding the correct amounts for ...

As an employer, you sometimes make extra payments to employees, such as bonuses or reimbursements for mileage or moving. The Internal Revenue Service doesn't require you to pay taxes on mileage ...

As a general rule, "gross" means all of something. Gross income refers to an individual's entire income from all sources -- wages, self-employment, bonuses, dividends, etc. Net income is the number ...

Your gross pay consists of the total amount of money your employer pays you -- typically expressed as either an annual salary or hourly wage. However, take-home pay is a much more useful number, as it ...

Adjusted gross income, or AGI, refers to your total income subject to tax, minus a few specific deductions. AGI is important, as it is used to determine your ability for certain tax credits and ...

When it’s time to calculate your tax bill, knowing your adjusted gross income (AGI) is a crucial first step. If you file your tax return online (or have your tax preparer do it), you’ll need your AGI ...

The IRS uses your modified adjusted gross income (MAGI) to determine whether you qualify for important tax benefits like deducting contributions from your individual retirement account (IRA) and ...

Although gross pay is the amount provided on financial documents such as tax forms, net pay represents how much your employees actually have to spend on payday. To calculate net pay from gross pay, ...

Source: 401kcalculator.org via Flickr. When calculating your income for tax purposes, you may hear the terms "gross" and "net". Gross income includes (almost) all of your income, while net income is ...