Question

Why might someone voluntarily have money deducted from their paycheck?

A) Tax Withholding
B) Salary Increase
C) Bonus Payment
D) Retirement Contribution

Answer 1

There are several reasons why someone might voluntarily have money deducted from their paycheck, such as tax withholding, retirement contributions, and insurance coverage.

Step-by-step explanation:

There are several reasons why someone might voluntarily have money deducted from their paycheck:

1. Tax Withholding: Money may be deducted to cover income tax, social security contributions, and other insurance programs.
2. Retirement Contribution: Some individuals choose to have money deducted from their paycheck to contribute towards their retirement savings.
3. Insurance: Deductions may be made to cover health insurance or other insurance benefits provided by the employer.