Figure out annual salary (if applicable) by multiplying the amount you receive each pay period by the number of pay periods in the year, such as 52 weekly pay periods or 26 biweekly pay periods to arrive at your gross salary for the year. This method works best if you work 40 hours e...
If you get paid biweekly, meaning every two weeks, it's often useful to know how much you'll be taking home from the office each pay period. You can divide your annual salary by the number of pay periods in a year to get your total biweekly pay, but you'll also want to make su...
The amount you are being paid for the current pay period (whether it's weekly, biweekly, twice monthly, or monthly) generally comes first on your pay stub and is the most straightforward figure to understand. What you'll likely see in this section depends on whether you are a salaried or...
You’ll need to gather information from your payroll records to calculate employee federal tax withholding. Here’s the information you’ll need for your calculations: Payroll period details, including the frequency of your pay periods (weekly, biweekly, semi-monthly, or monthly) and the amount ...
Pay Form W-4 information Filing status (e.g., Single) Use each employee’s W-4 form and the federal income tax withholding tables in IRS Publication 15 to figure out how much the employee owes in federal income taxes. State and local income taxes vary by state and locality. Check with...
4. Decide how you’ll pay employeesThe common methods for paying employees are direct deposit or a paycheck. You may decide to offer only one option or to let your employees choose their preferred method of payment. Regardless, figure it out during the hiring process and make sure you have...
For years, folks have used the Myers-Briggs Type Indicator (MBTI) to figure out personality type and, it can be a helpful starting point for understanding the different personalities on your team. Even more important is taking the time to observe and recognize what each person is good at and...
It’s one of the many questions plaguing HR leaders: what’s the best way to retain my employees? And we all know the answer is simple, the solution is slightly harder to figure out. The happier your employees are, the longer they’ll stay. The key for HR leaders is figuring out a...
Spoiler: It’s not the number on your biweekly pay stub—it’s your disposable income. Your disposable income is the amount that you have available to spend once Uncle Sam has gotten his cut. Let’s start with the basics. What is disposable income? Disposable income, also known as ...
Let’s say you decide to give an employee a percentage raise of 3%. The employee currently earns $50,000 annually and $1,923.08 biweekly ($50,000 / 26). You want to determine how much the raise is, what their new annual wage will be, what their new biweekly paycheck is, and how...