What is the name for the paycheck amount after all deductions have been made?

The paycheck amount after all deductions have been made is referred to as net pay. This term precisely describes the amount an employee receives after taxes, benefits, and any other deductions have been subtracted from the gross pay. Understanding net pay is essential for employees as it represents the actual income available for spending and saving, providing a clear picture of their financial situation.

While terms like take-home pay may also be used interchangeably in some contexts, net pay is the more formal and widely recognized term in financial and payroll discussions. Gross pay, on the other hand, refers to the total earnings before any deductions are applied, which can often lead to confusion if someone is looking at their earnings without considering what is ultimately received as take-home income.