Analyzing a pay stub involves understanding your earnings and deductions. The first step is to identify your gross pay, which is the total amount you've earned before any deductions. This amount will typically include your regular hourly wages or salary, along with any overtime, bonuses, or commissions you might have earned during the pay period. Next, you'll need to review all the deductions taken out of your gross pay. These deductions often include taxes (federal, state, and local), Social Security and Medicare (FICA), and any additional deductions such as health insurance premiums, retirement contributions, or garnishments. Subtract these deductions from your gross pay to determine your net pay, or take-home pay. Cross-checking these figures and understanding each component can ensure that your pay is calculated correctly and can also assist in your broader financial planning.