Everything You Should Know About Finding 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. 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. For tips on how to find your annual income, view here.
If you want to find out the total amount of money you are making in a year, it is crucial you collect all the relevant information, which begins with knowing your hourly rate; you must know your hourly wage. 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. 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.
As you can see from this guide, all you need is accurate figures that you have to put together to know how much you make in a year, and it is especially easily if you are paid by the hour and you have impeccable record keeping skills. You can now join the long list of employees who have been calculating their annual incomes for years. You can find out your annual income with the help of these tips.