Easy step-by-step instructions to manually calculate your paycheck's federal income tax, Social Security tax, and Medicare tax with examples.
Creating a budget is a responsible decision. By calculating your paycheck, you can determine the amount of money you will have and designate it to specific bills and savings. Calculating your paycheck requires the knowledge of your withholdings and withholding allowances. Tax laws change each year,...
How to calculate your debt-to-income ratio To determine your debt-to-income ratio, divide your total monthly debt payments by your take-home pay.For example, if you pay $500 in student loans every month, $400 for your car payment and $100 goes toward your credit card, that's $1,000...
When you have employees, payroll is one of your most important tasks. Because payroll is oh-so-important, you need to know how to calculate payroll. That includes knowing how to calculate taxes and other deductions accurately. Read on to learn more about how to calculate payroll by hand. ...
Savings Rate is the most important factor to determine how long it'll take you to reach financial independence. The higher your savings rate, the faster your path to Financial Independence. Find out everything you need to know about savings rates and how to calculate your personal savings rate...
If your employee received any tips, commissions, bonuses, or other extras for a given pay period, add them to the paycheck amount. This gives the final gross pay for that pay period. Calculating Hourly Gross Pay Step 1: Calculate standard hourly wages ...
Your modified adjusted gross income (MAGI) is key to determining your eligibility for certain tax benefits. Learn how to calculate modified adjusted gross income and why it matters for your taxes.
Learn how to calculate payroll taxes for US and international employees. Discover the types of payroll taxes, key documentation, and essential steps for payroll tax management.
To make your first paycheck work best for you, you'll need to learn how to calculate your net pay, budget for expenses and nice-to-haves, and save money for the future.
Savings is the money left over from your disposable income after all of your living and other expenses have been subtracted out. Usually you calculate it for a specified time period, such as a month or a year. Often people set aside savings for certain goals, which may include buying a ho...