Calculate salary home

To calculate the wages of home, add simply all deductions and then subtract the total deductions from gross pay.

Definition of take home pay: also called net pay, wages of home is the money that remains after all deductions were exempted gross pay.

Definition of deductions: all the money from your gross salary

Definition of gross earnings: the sum of money paid to an employee before deductions

Take home pay = gross earnings – deductions

Example # 1:

Steve is a programmer and works 35 hours a week. Steve is paid $25 / hour. Calculate salary home

Here are the payroll by Steve:

Federal tax: $130

State fee: $25

Health insurance: $80

Health insurance tax: $52

Disability: $12

Dues: $21

First, calculate the total deductions:

Total deductions = tax federal + state tax + insurance + tax for Medicare disability + membership dues

Total deductions = $130 25 $ + $80 + 52 + 12 $ + $21

Total deductions = $320

Second, calculate steve gross income:

Gross pay = number of hours worked × rate

Here is how much you get paid per hour

Thus, gross pay = $35 × 25 = $875

Take home pay = gross earnings – deductions

Take home pay =-320 $ $875

Take home pay = $555

Example # 2:

Amy is a registered nurse and works 52 hours per week. Amy is paid $50 per hour for regular time and $75 per hour for overtime

Here are the payroll deductions to Amy:

Federal tax: $150

State tax: $54

City tax: $24

Health insurance: $100

Health insurance tax: $45

contribution that: $80

First, calculate the total deductions:

Total deductions = tax federal + state tax + tax + insurance + insurance + contribution tax

Total deductions = $150 + $54 + 24 $ + $100 + $45 + $80

Total deductions = $453

Second, calculate steve gross income:

Gross pay = number of hours worked × rate

Given that Amy has worked 52 hours, there is overtime pay.

Regular pay = × 40 $50

Regular pay = $2000

The overtime pay = × 12 $75 $

The overtime pay = $900

Gross pay = regular salary + overtime compensation

Gross pay = $2000 + 900 $

Gross pay = $2900

Take home pay = gross earnings – deductions

Take home pay = $ $2900-453

Take home pay = $2447

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