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If you have ever looked at your paycheck and did not know the meaning of each part of it, it’s time to learn. Besides just knowing where your money is going and why, you could possibly be missing errors that have been occurring that you can now rectify. Basic Terms The first few terms to understand are: YTD, Pay, and Deductions: YTD = Year-To- Date – You will often see this in categories such as pay, deductions, and taxes. Pay = your gross pay – What you earned before taxes are taken out Deductions = Any benefits you share the…
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