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MoneyMarci

Reviewing your paystub - 9/13/2024

I often talk about reviewing your paystub. It's for a number of different reasons, that are all about you.


  1. To confirm your taxes are withheld correctly. You can use the IRS tax estimator tool to estimate the federal taxes for the year. Make sure your federal tax withholding is in-line with your projected year-end tax and adjust your withholdings if necessary.

    Tax Withholding Estimator | Internal Revenue Service (irs.gov)


  2. To evaluate if you can increase the savings, investing, and retirement contributions.


  3. To make sure that your pay rate, hours (if paid hourly), reimbursements, PTO calculations, and anything else that should be on your paystub is listed correctly.


  4. Review that your personal information is correct - name, address, social security number. Sometimes people move and don't think to notify the payroll department at work since moving does not impact their ability to do their job.




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