It feels great to get a paycheck, but you may have noticed a difference between the amount you earned (gross income) and the actual amount of your check (net income). Where does all the money go? Some of your wages actually go to pay a variety of different taxes, including the Federal Insurance Contribution Act (FICA). Depending on your individual tax situation, part of the money may be gone for good. However, some or all may come back as a refund check after you file a tax return, usually between January 1st and April 15th of each year. Here is an explanation of some of the categories you may find on a pay stub.

Earnings: this section shows the number of hours you worked, your hourly rate and the total earned before taxes are deducted. This total is also known as gross income.

Year-to-date amount: the money you've earned and the taxes you've paid since January 1.

Social Security tax (sometimes listed under the FICA category): the amount that goes to the Social Security program, which provides a baseline income and other services for older and disabled Americans, as well as for orphaned minors.

Medicare tax (the other part of FICA): this amount goes to the federally run program that provides medical insurance that helps older and some disabled Americans get medical care.

Federal taxes: this amount goes to the US government and helps to pay for the military and other functions and programs of the federal government. This is your contribution toward the president's salary, among other things.

State taxes: this amount goes to help pay for state services, including the workings of your state government. The next time you see your state senator or representative on television, you'll know that you help pay for his or her salary.