PAYROLL GLOSSARY
Payroll and Paycheck Glossary
Short, definition-first explainers for the payroll terms that most often confuse job seekers, employees, and business owners. Each term links to a dedicated page with examples tied to 2026 withholding rules.
Use this glossary when a pay-stub line or HR email references jargon you do not recognize. Terms cover federal withholding, FICA, pre-tax benefits, and pay-frequency basics — the same vocabulary used across ExactTakeHome calculator and salary pages.
Semi-monthly payWhat semi-monthly pay means, how it differs from biweekly pay, and why payroll periods change withholding.Gross payGross pay means wages before taxes and deductions come out of the paycheck.FICAFICA is the federal payroll tax that funds Social Security and Medicare.FEINFEIN is another name for an EIN, the federal tax ID number used to identify a business.Net payNet pay is take-home pay after taxes and deductions are removed from gross wages.WithholdingWithholding is the tax your employer takes out of each paycheck and sends to tax agencies on your behalf.W-4Form W-4 tells your employer how much federal income tax to withhold from each paycheck.Pay periodA pay period is the recurring span of time your wages cover before payroll cuts a check.