Take-Home Pay

Definition

The amount of money you actually get to keep after taxes, benefits, and government decides to become your unwanted business partner. It's always less than you think.

Example Usage

My salary is $100K, but my take-home pay is closer to $65K after taxes and benefits.

Source: Payroll and personal finance terminology

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Payroll

The process of paying employees—basically money hemorrhaging in a very structured, tax-compliant way.

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