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A Simple Guide on How to Find your 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! But it is good to have an idea of how much money you make in a single year and this information can be beneficial in more ways than you imagine. 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. 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. 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.
For someone who works overtime, the calculation of the annual income is a bit different because you have to factor in the additional payment; your payment is usually one and a half times or double on holidays. If you have a work schedule that is not the same every week and some weeks, you have to do te above calculations weekly, and keep your records to be used at the end of the 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. Another tip to coming up with a accurate figure when calculating annual income is including the extras; things like bonuses, tips, and commissions you get while at work should be included in the calculations
One thing you should know that calculating your annual income is not as difficult as you think; provided you have accurate working hours and you know the total amount you earn hourly, you can calculate your weekly, monthly, and yearly income without any difficulties. 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. You can find out your annual income with the help of these tips.