Everything You Should Know About Finding Annual Income
Securing employment that can be the source of income you need to for survival and other investments is everyone’s objectives, most of them not caring about how much they will be making in a year as shown here! If you don’t have an idea of how much you are making in a year, you are not the only one, but it is time to change that now. If you are among the millions of people who are oblivious to the money they make in a year, this site is here to help you. For tips on how to find your annual income, view here.
The first tip to calculating your annual income is knowing how much you make per hour, information that can also be obtained from your paystubs where it is usually listed. Once you have obtained this information from your paystub or the human resource department, you can then determine your annual employment income; multiple by your hourly wage by the number of hours you work in a week, and then by fifty-two the number of weeks in a year.
To have an accurate estimate of your annual income, do not forget your overtime work; since you pay is more than an ordinary employee by about half, you must factor this in to find an accurate figure of the annual income. For someone who is working for the same number of weeks, calculating annual income is usually easy and straightforward, however, if you are working different hours each week, the trick is to do the calculations weekly to avoid being confused.
The easiest way to do this is to write down the number of hours you work each week, get the total and use that number to find your income for that week. Make a list of all your income sources and be sure to include everything; the total amount you make from tips, commissions, are a part of the money you make annually and should be included.
As you can see from this guide, all you need is accurate figures that you have to put together to know how much you make in a year, and it is especially easily if you are paid by the hour and you have impeccable record keeping skills. Even if you don’t know how to calculate how much you make in a year or have never thought about, now is the time to take control of your finances and never lose track of your total income. In summation, this guide highlights everything you need to know about calculating your annual income.