Estimates your weekly, bi-weekly, monthly, and yearly income. Very useful when job hunting when offered an income per hour, month, or year. The tax bracket numbers are adjustable with each year's income tax levels.
You may receive a monthly or daily salary. Daily wages are calculated using either the gross rate (for paid public holidays, paid leave, salary in lieu and salary deductions) or the basic rate (for work on rest days or public holidays).
For calculating salary, a “month” or “complete month” refers to any one of the months in the calendar year.
Annual income is the total value of income earned during a fiscal year. Gross annual income refers to all earnings before any deductions are made, and net annual income refers to the amount that remains after all deductions are made. The concept applies to both individuals and businesses in preparing annual tax returns.
Determine if you are a wage earner
Find out your hourly salary
Multiply to calculate your annual salary if you work a fixed number of hours per week
Average your weekly number of hours if you work a different amount each week
Add in overtime payments if applicable
Adjust for sick time, vacation or a leave of absence
Determine if you are a salaried employee
Read your pay stub
Verify your payroll schedule
Determine overtime pay
Calculate your annual salary. Find your total gross earnings, before deductions, on your pay stub. Multiply this amount by the number of paychecks you receive each year to calculate your total annual salary.
Add in bonuses if applicable