Deductions Overview
3:11
Description
Related Videos
A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.
View More
View Less
3:11
A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.
The Record of Employment (ROE) is the form employers process for employees receiving insurable earnings who stop working and experience an interruption of earnings.
3:17
Earnings identify different types of employee compensation for services provided. Earnings can also include specific parameters such as accounting rules, tax laws, and reporting requirements.
2:42
A general ledger is a journal containing accounting transactions related to a company’s assets, liabilities, equity, revenue, and expenses.
2:33
An involuntary garnishment, sometimes called a wage attachment, is a legal process in which an amount is collected directly from an employee’s wages to satisfy an unpaid debt.
1:42
The pay statement, also known as a pay stub, includes the details of the employee’s pay for that pay period. Pay statement details help employees understand their pay and check for inaccuracies.
1:47
It’s the employer’s responsibility to submit and report payroll taxes and statutory deductions that have been calculated for every employee. This video reviews how businesses pay taxes and how they report those payroll taxes.
1:18