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First, multiply the hours worked each week by the number of weeks in a year. For instance 40 hours x 52 weeks = 2,080 hours. Next, divide the employee's annual salary by this number.
Let's say the employee makes $50,000 a year and works 40 hours a week, the hourly rate is $50,000 / 2,080 = $24.04.
Add up all the assessed taxes, including Social Security, Medicare and the federal and state withholding information found on a W-4 form. Divide this number by the gross pay to determine the percentage of taxes taken out of a paycheck.
For instance if all the taxes add up to $500 and the gross pay is $2,000 then the tax percentage is $500 / $2,000 or 25% tax rate.
Multiply the hourly wage by the number of hours worked each week. Then, multiply that number by 52, the total number of weeks in a year.
For example, if an employee makes $25 per hour and works 40 hours per week, the annual salary is 25 x 40 x 52 = $52,000.
Important Note: The Hourly Paycheck Calculator is designed to provide general guidance and estimates. It should not be relied upon to calculate exact taxes, payroll or other financial data. These calculators are not intended to provide tax or legal advice and do not represent any Hourly service or solution. You should refer to a professional advisor or accountant regarding any specific requirements or concerns.