A Simple Guide on How to Find your Annual Income
Securing employment that can be the source of income you need to for survival and other investments is everyone’s objectives, most of them not caring about how much they will be making in a year as shown here! With an average person known to make about forty-eight thousand dollars annually, your should make it your business to know how much you are working for annually. If you are among the millions of people who are oblivious to the money they make in a year, this site is here to help you. You can learn more about finding your annual income by reading the following guide.
You cannot find out your annual income if you don’t know how much money you are making in an hourly; your hourly rate, which is usually listed on the paystub is the first piece of information you need. Once you have obtained this information from your paystub or the human resource department, you can then determine your annual employment income; multiple by your hourly wage by the number of hours you work in a week, and then by fifty-two the number of weeks in a year.
When you are calculating the total hours you work, don’t forget the overtime because you will have a different calculation since your hourly pay will be paid at one and a half times the normal rate. For someone who is working for the same number of weeks, calculating annual income is usually easy and straightforward, however, if you are working different hours each week, the trick is to do the calculations weekly to avoid being confused.
The easiest way to do this is to write down the number of hours you work each week, get the total and use that number to find your income for that week. Make a list of all your income sources and be sure to include everything; the total amount you make from tips, commissions, are a part of the money you make annually and should be included.
As you can see from this guide, all you need is accurate figures that you have to put together to know how much you make in a year, and it is especially easily if you are paid by the hour and you have impeccable record keeping skills. You can now join the long list of employees who have been calculating their annual incomes for years. You can find out your annual income with the help of these tips.