Calculating Net Pay for Employees - Process and Tips

Net pay is the amount of an employee's pay (either salaried or hourly) after withholding for federal and state income taxes, and for any additional deductions. Net pay is thus the amount actually received by the employee in his or her paycheck.  How to Calculate Net Pay  1. Start with Gross Pay. To begin the calculation of net pay, you must start with the employee's gross pay. Gross pay is the amount that is owed to the employee for the pay period (weekly, bi-weekly, semi-monthly, or monthly). Gross pay for hourly employees is the hours worked times hourly rate, with overtime premiums, if applicable.

Category: Paycheck

Three-paycheck months

August 11, 2010by Fred Clark Most Americans live paycheck-to-paycheck. Some of those paychecks are larger than others, but the pattern is the same. Most of us also get paid every two weeks. Our bills, however, come monthly, and so our household budgets are structured according to these monthly expenses. But at least twice a year we get this wonderful treat: the three-paycheck month. It's like a mini-Jubilee, a respite from the strain of every dollar's being accounted for before it is received. You likely know what I'm talking about, but apart from a few personal-finance columns advising readers on the most prudent use of this twice-yearly windfall, I don't think I've ever seen any recognition from economists that this phenomenon occurs and that, cumulatively, it might have some rather significant, measurable effects on the rhythm of the American economy.

Category: Paycheck

When You Can Expect to Get Your First and Last Paycheck

When can you expect to get paid after starting a new job? Most employers pay their employees on a weekly or bi-weekly (every other week) basis. Some employers pay monthly; other employers pays on set dates, for example, on the 1st and 15th of every month. When you receive your first paycheck depends on the timing of the company's payroll and when you start employment. When Do You Get Paid After Starting a Job?Payroll checks may be issued at the end of each pay period worked or there may be a lag and your paycheck may issued a week or two, or longer, after you begin work.

Category: Paycheck

Tax Calculators

1040 Tax CalculatorEnter your filing status, income, deductions and credits and we will estimate your total tax. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April. 1040 Tax Calculator (Tax Year 2012)Use this 1040 tax calculator to help estimate your tax bill using the 2012 tax year's rates and rules. 1040 Tax Calculator (Tax Year 2013)Use this 1040 tax calculator to help estimate your tax bill using the 2013 tax year's rates and rules. 1040 Tax Calculator (Tax Year 2014)Use this 1040 tax calculator to help estimate your tax bill using the 2014 tax year's rates and rules.

Category: Paycheck

Net to Gross Paycheck Calculator

Your gross income and your net income are two very different figures. Gross income is your actual earnings, before any deductions for taxes, 401(k) contributions, employee-paid health insurance, union dues and the like. Your net income is the amount you actually receive after all that is taken out. There are a lot of different things that can be deducted from your gross earnings to produce your net income, and they are figured in different ways. Some may be a fixed dollar amount, some a percentage of earnings, or perhaps a multiple of some other figure.

Category: Paycheck

Paystub Frequently Asked Questions

Who do I contact for questions about my paycheck? You should contact your Hourly Personnel office or Labor Relations office for:     1. Name or Address changes     2. Changes to your tax withholdings     3. To put a stop payment on a paycheck     4. To request a check to be reissued that is more than 60 days old     5. Questions about pay rate, shift differential or OT     6. To ask questions about SUB pay You should send an e-mail to hpay@ford. com for:      - Questions about your W-2      - Questions about taxes or imputed income      - Questions about deductions such as credit union deductions or direct deposit You should send an e-mail to: pdeducts@ford.

Category: Paycheck

Arkansas Paycheck Calculator

Photo credit: ©iStock. com/DustyPixel Arkansas Paycheck Quick Facts Arkansas income tax rate: 0. 9% - 6. 9% Median household income: $41,262 (U. S. Census Bureau) Number of cities that have local income taxes: 0 Arkies have to pay taxes just like all U. S. residents. Your employer will withhold federal income and FICA taxes from each paycheck. Just to remind you, that money goes to the IRS who then hands it out to things like your annual income taxes, Medicare and Social Security. The information on your W-4 is what your employer will use to withhold a certain amount of federal taxes.

Category: Paycheck

Costco – Engagement In Bulk

Glassdoor recently published their annual Top 25 Companies for Compensation and Benefits list, and once again Costco has taken a high spot, landing second place behind Google. That means the compensation and benefits provided to Costco employees rival those of tech giants like Facebook, Adobe, and Microsoft. Always Winning Costco manages to achieve high levels of employee engagement, healthy profit margins, and lower-than-average turnover rates while starting every employee at $11. 50/hr, providing company-sponsored health insurance, and having no advertising or public relations staff to speak of.

Category: Paycheck

New Hampshire Paycheck Calculator

How helpful was this page in answering your question? Thank you for your answer! Your feedback is very important to us. New Hampshire Paycheck Quick Facts New Hampshire income tax rate: 0% (5% Interest and Dividends tax) Median household income: $66,532 (U. S. Census Bureau) Number of cities that have local income taxes: FICA taxes are Social Security and Medicare taxes, and they are withheld from each of your paychecks in order for you to pay into these systems so you can enjoy them once you’re retired. Social Security is taxed at 6.

Category: Paycheck

Livin' Paycheck to Paycheck - Free Printable Budget Form

Hey guys!  How was your weekend!  We had an awesome weekend with friends and finally had some beautiful weather!  However, it's supposed to storm today!  Not awesome! Anyways, today I'm going to tell you about how we're so rich, we don't even have to worry about a budget or saving money. YEAH RIGHT!!!!! Let's be honest. . . . We live like most other Americans out there, paycheck to paycheck.  Right now, we're working on paying down debt and attempting to save while doing it.  BORING and NO FUN, right?!?! :)  I'd love to spend my whole paycheck every week at Target, but we all know that won't get me anywhere but a street corner with a cardboard sign begging for money.

Category: Paycheck

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