Types of Paychecks:
Paper paychecks: Piece of paper that comes with the stub that you have to bring to the bank to get it deposited or cashed
Direct Deposit: Your employer wires your money into your account, Automatically shows up into your bank account
Payroll Card: The third and newest method to pay employees. Its a prepaid card that is offered to employees as an alternative to paper paychecks or directly depositing wages into an employees depository institution
Taxes:
Taxes: Compulsory charges imposed on citizens by local, state, and federal government used to fund public goods and services.
Internal Revenue Service: The governmental agency responsible for collecting federal taxes, issuing regulations, and enforcing taxed laws written by the United States Congress.
Paper paychecks: Piece of paper that comes with the stub that you have to bring to the bank to get it deposited or cashed
Direct Deposit: Your employer wires your money into your account, Automatically shows up into your bank account
Payroll Card: The third and newest method to pay employees. Its a prepaid card that is offered to employees as an alternative to paper paychecks or directly depositing wages into an employees depository institution
Taxes:
Taxes: Compulsory charges imposed on citizens by local, state, and federal government used to fund public goods and services.
Internal Revenue Service: The governmental agency responsible for collecting federal taxes, issuing regulations, and enforcing taxed laws written by the United States Congress.
Other Information for Paychecks and Taxes: http://taxes.about.com/od/payroll/qt/payroll_basics.htm
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