What is gross wages?

[alenaghose]

I’ve been reading about paychecks and financial terms, and I keep coming across the term "gross wages." Can someone explain what gross wages are exactly? How do they differ from net wages, and what deductions typically get taken out of gross wages to arrive at the net amount?

 

[maria]

Gross wages refer to the total amount of money an employee earns before any deductions like taxes, benefits, or retirement contributions. It includes hourly wages, salary, overtime, bonuses, and commissions. In simple terms, it’s the full amount paid to an employee before anything is taken out.

 

[Shane Warne]

Gross wages are the total earnings an employee receives before any deductions like taxes, insurance, or retirement contributions.

 

[Olivia]

Gross wages are the total amount of money you earn before any taxes or deductions are taken out. It includes your basic pay, overtime, bonuses, etc.

 

[Mayank]

Gross wages refer to the total earnings an employee receives before any deductions, including taxes, benefits, or retirement contributions. It includes base salary, overtime, bonuses, and commissions earned during a pay period.

 

[peterkavinsky]

Gross wages refer to the total amount of money an employee earns before any deductions, such as taxes, insurance, or retirement contributions. This includes salary, overtime, bonuses, and other earnings.

 

[nikhilrajoria]

The gross wages are all the money in your payslip before all the tax and deductions.

 

[Jarwish]

Gross wages are the total amount of money an employee earns before any deductions. This includes salary, overtime, bonuses, and other earnings. It does not account for taxes, benefits, or other withholdings.

 

[Lucky]

Gross wages refer to the total amount of money an employee earns before any deductions, such as taxes, insurance, or retirement contributions. It includes base salary, overtime pay, bonuses, and other earnings. Gross wages are often listed on a pay stub and represent the full compensation agreed upon between the employer and employee before withholdings.

 

[ankita]

Gross wages are the total amount of money an employee earns before any deductions, such as taxes, insurance, or retirement contributions. This includes hourly pay or salary, overtime, bonuses, commissions, and other earnings. It represents the employee’s full earnings prior to withholdings.