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LL Bean Mastercard Net Income Request

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Anonymous
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Re: LL Bean Mastercard Net Income Request


@coldfusion wrote:

@Anonymous wrote:

@bergrides wrote:

Interesting.  Hopefully I can take gross minus taxes not gross minus 401K minus health insurance cost minus taxes


Net is just minus taxes AFAIA. 


From an accounting perspective,  net pay does factor in deductions like 401K,  health/dental/term life insurance,  union dues, taxes, and so on.  It's not just taxes.  

 

A simple definition is that net pay is based upon what the payroll check actually deposits into your bank account. 

 

 


Yeah I know what the definition is but Sync’s definition has always been post-tax from what I heard is what I meant. 

 

However it looks like that is actually incorrect. They want to see what you actually have available to spend based on this excerpt from one of their applications. 

 

E48042FA-95EF-47AC-92DE-0A3D1F5FFD48.jpeg

 

This doesn’t affect any of my applications since my gross and net are the same number (my SSDI isn’t taxable and I don’t pay Medicare either) but it’s good for others to be aware of in case they ever do another round of blue letters. 

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