Question 1

How do I convert hourly wage to annual salary?

Accepted Answer

Multiply your hourly rate by hours worked per week, then multiply by 52 weeks. For example: $25/hour × 40 hours × 52 weeks = $52,000 annual salary. This calculator does this automatically and shows breakdowns for day, week, and month too.

Question 2

How do I calculate take-home pay?

Accepted Answer

Take-home pay is your gross salary minus taxes and deductions. Enter your estimated total tax rate (federal + state + local + FICA) to see your net income. The actual rate varies by location and income level - check your recent pay stub for accuracy.

Question 3

What tax rate should I use?

Accepted Answer

Your effective tax rate includes federal income tax, state tax (if applicable), Social Security (6.2%), and Medicare (1.45%). For most US workers, total rates range from 20-35%. Check your W-2 or pay stub for your actual withholding percentage.

Question 4

How do I compare job offers with different pay structures?

Accepted Answer

Convert everything to annual salary for fair comparison. Consider total compensation including benefits (health insurance, 401k match, PTO). A $50k salary with $10k in benefits may beat $55k with minimal benefits.

Question 5

How many work hours are in a year?

Accepted Answer

Standard full-time is 2,080 hours (40 hours × 52 weeks). With vacation and holidays (say 3 weeks), actual work hours are closer to 1,960. This calculator uses 52 weeks for consistency with standard salary calculations.