Calculate net pay.
DefinitionCalculation of net pay should take into account gross pay, as well as voluntary and required deductions (e.g., FICA, state and federal taxes, insurance, savings).
Other Related Standards
Economics and Personal Finance Standards of Learning
The student will demonstrate knowledge of income earning and reporting by
- examining how personal choices about education, training, skill development, and careers impact earnings;
- differentiating among sources of income;
- calculating net pay;
- investigating employee benefits and incentives; and
- completing a standard W-4 form.