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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! With an average person known to make about forty-eight thousand dollars annually, your should make it your business to know how much you are working for annually. With a little information on the website and the tips discussed on this page, you can know how much you make in a year. 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. 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.

When you are calculating the total hours you work, don’t forget the overtime because you will have a different calculation since your hourly pay will be paid at one and a half times the normal rate. Another factor that will determine your total annual income is the number of hours you in a work for those that work different hours each week; if you work for twenty hours on some weeks and thirty or more on others, you have to make the calculations differently and keep track of each for the entire year.

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. Finding annual salary figure means adding all the money you earn while at work including the bonuses; if you are in a position where you earn incentive payments, commissions, and tips among others, they should all go into the calculation.

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. You can now join the long list of employees who have been calculating their annual incomes for years. Be sure to include the tips discussed above to come up with an accurate figure of your annual income.

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