Question

What does the term “withholding” mean in reference to your paycheck? a. The amount of your paycheck that you are NOT being taxed on b. How much you are going to owe the government when you file your annual tax return c. How much you earn and includes salary, bonus and commissions d. How much is being taken out of your paycheck for things like taxes, employer sponsored health insurance, and retirement

Answer 1

d. How much is being taken out of your paycheck for things like taxes, employer sponsored health insurance, and retirement

Answer 2

Step-by-step explanation:

The term "withholding" in reference to your paycheck typically refers to option d. It refers to how much is being taken out of your paycheck for various purposes, such as taxes, employer-sponsored health insurance, and retirement contributions. This includes deductions that are withheld from your gross income before you receive your net pay. Withholding for taxes is a common aspect, and it includes federal income tax, state income tax (if applicable), Social Security tax, and Medicare tax. These withholdings are required by law and are used to cover your obligations to various government programs and insurance.