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Tax Planning
Updated

Pay Stub Review

Updated 09/01/2024

A pay stub is a valuable source of information when building financial models and evaluating cash flow. It provides insight into income, tax, retirement savings, various insurance costs, etc.

A periodic paycheck review with a client can be a productive exercise, demonstrating how their earnings translate into net pay. As you guide a client through their pay stub, you can help them to understand the automated tax withholdings, savings, and payments that they make each pay period, and appreciate any employer benefits that augment their compensation package.

This flowchart helps you lead your clients through a series of considerations when reviewing their paycheck. It covers:

  • Hours worked and vacation time
  • Tax withholdings
  • Voluntary payroll deductions
  • Pre-tax vs. after-tax expenses
  • Employer-paid benefits
Related Guides
Will I Receive A Step-Up In Basis For The Appreciated Property I Inherited?
Category: Tax Planning, Estate Planning
Will I Receive A Step-Up In Basis For This Gifted Property?
Category: Tax Planning, Estate Planning
Can I Do A Net Unrealized Appreciation (NUA) Distribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning
Will My Roth IRA Conversion Be Penalty-Free?
Category: Tax Planning
Should I Contribute To My Roth IRA Vs. My Traditional IRA?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Will I Have To Pay Tax On My Qualified ESPP?
Category: Working / Accumulation Phase, Tax Planning
Should I Consider Doing A Roth Conversion?
Category: Tax Planning
Do I Need To Start Making Estimated Federal Income Tax Payments?
Category: Tax Planning
What Will Have The Least Tax Impact: Harvesting Capital Gains Or Roth Conversions?
Category: Tax Planning, Assets and Investment Planning
Is My Rental Property Tax Deductible?
Category: Retirement / Decumulation, Tax Planning, Assets and Investment Planning
Where Should My Next Dollar Go?
Category: General, Tax Planning
Can I Make A 529-To-Roth IRA Transfer?
Category: Tax Planning
What Issues Should I Consider When Doing A Section 1035 Exchange?
Category: Tax Planning, Insurance Planning

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