No, they are not. A paycheck is a financial document that authorizes the transfer of funds from your employer to your bank account. It represents the actual payment you receive. In contrast, a pay stub is a detailed statement that explains how your paycheck was calculated, including taxes withheld and any deductions. It doesn’t have monetary value on its own.

A smart approach is to save 25–30% of your self-employed income for taxes. Maximizing your 1099 deductions lowers your overall tax burden.

If you don’t get your paycheck or it’s delayed, first contact your employer’s HR department. Often, late payments are due to simple errors that can be quickly resolved.