Examlex
Perform the indicated operation.
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Net Pay
The amount of an employee's earnings after all deductions, such as taxes and retirement contributions, have been subtracted.
Gross Pay
Gross pay refers to the total amount of money an employee earns before any deductions are taken out.
Employer Payroll Taxes
Taxes that employers are required to pay on behalf of their employees, which may include Social Security and Medicare taxes.
Tax Liability Accounts
Tax liability accounts are financial accounts used to record the amounts owed by an individual or an entity to the tax authorities, representing future tax payments.
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