Net pay converter

Want to add these calculators to your website? Learn about our customizable calculators. Select a state to include state and local taxes. Check Date. Gross Pay. Gross Pay YTD. Use W4. Step 2: Two Jobs. Step 3: Dependents Amount.

Step 4a: Other Income. Step 4b: Deductions. Additional Federal Withholding. A pay stub, on the other hand, has no monetary value and is simply an explanatory document. Further specifics may be required by state or local governments. Employers, however, must keep payroll records for the specific lengths of time mandated by federal and state governments. The course of action depends on the reason for the missed or late paycheck.

Payroll Tax Salary Paycheck Calculator. Looking for managed Payroll and benefits for your business? Get a free quote Important note on the salary paycheck calculator: The calculator on this page is provided through the ADP Employer Resource Center and is designed to provide general guidance and estimates. Salary paycheck calculator guide Although our salary paycheck calculator does much of the heavy lifting, it may be helpful to take a closer look at a few of the calculations that are essential to payroll.

How to calculate net income Determine taxable income by deducting any pre-tax contributions to benefits Withhold all applicable taxes federal, state and local Deduct any post-tax contributions to benefits Garnish wages, if necessary The result is net income How to calculate annual income To calculate an annual salary, multiply the gross pay before tax deductions by the number of pay periods per year. What is a paycheck? Types of paychecks Traditionally, employees received printed checks in person or by mail, but more often today, the money is electronically deposited into a bank account.

How to read a paycheck Unlike withholding certificates and other employment documents, paychecks are pretty easy to decipher. Understanding paychecks: Withholdings and deductions When reviewing their first paycheck, those who are new to the workforce may wonder why their take home pay is less than their gross pay. State and local tax withholding State and local taxes vary greatly by geographic region, with some charging much more than others.

Examples include: State and local income tax State unemployment tax SUTA Short-term disability Paid family medical leave Benefit deductions Businesses that offer health insurance, dental insurance, retirement savings plans and other benefits often share the cost with their employees and withhold it from their pay.

Wage garnishments Employers may need to deduct garnishments from employee wages if they receive a court order to do so.

Frequently asked questions about paychecks Is a pay stub the same as a paycheck? What should a pay stub look like? What should you do with your paycheck stub? What should you do if you don't receive your paycheck or your paycheck is late? How do I create a paycheck for an employee?

Employers typically have two basic options for creating paychecks: Order check stock from an office supply store or the bank that has the business payroll account and print the checks each pay period. Also, wage-earners tend to be non-exempt, which means they are subject to overtime wage regulations set by the government to protect workers. In the U. Non-exempt employees often receive 1. Salaried employees generally do not receive such benefits; if they work over 40 hours a week or on holiday, they will not be directly financially compensated for doing so.

Generally speaking, wage-earners tend to earn less than salaried employees. For instance, a barista that works in a cafe may earn a "wage," while a professional that works in an office setting may earn a "salary. Most salaries and wages are paid periodically, typically monthly, semi-monthly, bi-weekly, weekly, etc.

Although it is called a Salary Calculator, wage-earners may still use the calculator to convert amounts. While salary and wages are important, not all financial benefits from employment come in the form of a paycheck. Salaried employees, and to a lesser extent, wage-earners, typically have other benefits, such as employer-contributed healthcare insurance, payroll taxes half of the Social Security and Medicare tax in the U.

Part-time employees are less likely to have these benefits. Miscellaneous employee benefits can be worth a significant amount in terms of monetary value. As such, it is important to consider these benefits as well as the base wage or salary offered when choosing between jobs. Self-employed contractors freelancers who sell their goods and services as sole proprietorships typically provide their own rates, which can be hourly, daily, or weekly, etc.

Also, contractors generally do not have benefits such as paid time off, cheaper health insurance, or any other monetary perks typically associated with full-time employment. As a result, their pay rates should generally be higher sometimes significantly so than the salaries of equivalent full-time positions.

Nevertheless, rates in the real world are driven by many factors, and it is not rare to see contractors take lower compensation. As can be seen, the hourly rate is multiplied by the number of working days a year unadjusted and subsequently multiplied by the number of hours in a working day.

The adjusted annual salary can be calculated as:. Using 10 holidays and 15 paid vacation days a year, subtract these non-working days from the total number of working days a year. All bi-weekly, semi-monthly, monthly, and quarterly figures are derived from these annual calculations.

It is important to make the distinction between bi-weekly, which happens every two weeks, and semi-monthly, which occurs twice per month, usually on the fifteenth and final day of the month. The calculator contains options to select from a number of periods normally used to express salary amounts, but actual pay frequencies as mandated by varying countries, states, industries, and companies can differ.

Mandatory consistent payments give employees a lot of stability and flexibility. However, at the state level, most states have minimum pay frequency requirements except for Alabama, Florida, and South Carolina. For further details, consult state regulations regarding pay frequency. The most common pay period frequencies tend to be monthly, semi-monthly twice a month , bi-weekly every two weeks , weekly, and daily.