A Simple Guide on How to Find your Annual Income
The total amount of money you make or will make in a year is one of the last things on your mind because all you want is to find a job now! 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. With a little information on the website and the tips discussed on this page, you can know how much you make in a year. Keep reading to learn how to find your annual income.
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. By figuring out the accurate amount you make every time you work for an hour, you are already halfway to figuring your annual income; you just have to factor in the number of hours you work in a week, and the total number of workweeks in one year, and you have the total amount in dollars that you make annually.
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.
Something that most people consider daunting, tedious, and time-consuming does not always have to be so if you know how to go about it and arrive at an accurate figure. It is no longer someone else responsibility to figure out how much you make in a year especially if you know how to go about the calculations. In summation, this guide highlights everything you need to know about calculating your annual income.