true gross or gross added?

[greg2169]

ok to calculate my 6 month average monthly income do i add the GROSS or TRUE GROSS? both are showing up on my paystubs... thank you

[ccsjoe]

I'm unaware of the difference, care to expand on this please?

[free2breathe]

Gross pay is equal to your salary minus any automatic (non-taxable) deductions such as health insurance and 401K deductions. True Gross pay equals your total salary. <---found on Wiki Answers. Makes sense. Your True Gross would be the actual amount of your hourly wages/salary before any deductions. I think the only time I've ever seen this show up on my pay stubs or w2 is when we have had our pre-tax deductions taken out.

[greg2169]

it shows up on every one of my paystubs... the true gross is about $90 more each time looks like maybe because of the health insurance? they take about $90 out of every paycheck for it

[free2breathe]

Use True Gross then, as it differs by the amount you pay for health insurance. Health insurance is a pre-tax deduction. It doesn't change the amount you earned over the six months, but it does affect the amount Uncle Sam taxes you on. (Again, this is only my understanding, I'm not an attorney or an accountant.)

[ccsjoe]

Thanks free2breathe. greg, free2 is right in that you should use true gross since there are deduction categories for taxes, insurance, etc.

[greg2169]

i will be filing this friday the 15th so that means 6 months ago was 4/21 do i use the paystub from 4/23 or the paystub from 4/09 to start? i want to use the 4/23 one hopefully

[greg2169]

am i supposed to be averaging the taxes for 6 months as well?

[tcreegan]

Hi again greg,

Unless you found some income to put you over the 4K NJ median income, you don't have anything to worry about.

Tom in Colo

[SunshineGal]

i will be filing this friday the 15th so that means 6 months ago was 4/21 do i use the paystub from 4/23 or the paystub from 4/09 to start? i want to use the 4/23 one hopefully

You'll use the paystubs from April 1st to September 30th. As for taxes, use the average.

[greg2169]

awesome thanks guys... thank you sunshine as well i will readd that up and file on friday! using may 1 to 9/30 will probably bring it down a little because my last paycheck had ot in it so this is a good thing to use the paycheck before the one i just got... thank you