Calculating take-home pay
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Anonymous
| DH just started a new job. He gets paid twice a month. He started on May 6 and on May 15 got his first check for $2477. Any help figuring out what he would have made in a full paycheck? I tried dividing $2477 by 10 days and then multiplying that by 15 days, but $3715 seems too high, considering its almost $1000 more than his last check but his new salary is not that much higher. Am I doing it right? Gross salary is $9K a month. |
Anonymous
| Is there any reason you need to know this right now instead of just waiting for his next check? |
Anonymous
| You need to look at the deductions on his paycheck. Figure out which ones are a percentage and which are a flat rate (perhaps prorated), and then reapply to the gross salary. |
Anonymous
|
Try Paycheck City. If he's salaried, he probably makes the same amount each check regardless of days worked.
If Gross is 9K a month, then Gross is 108 a year... With assumptions of you live in DC, and claim married with 1 exemption with 10% coming out pre-tax... I get 2826.60, so I bet the $2477 per semi-month is right if things like health care and higher retirement is coming out... |
Anonymous
| Insufficient data for meaningful answer. |
Anonymous
| Other than taxes and 5% for retirement, he has no deductions. Insurance and FSA, etc all comes from my check. |