How to Calculate Gross Wages for Taxes
- 1). Multiply your hourly wage times the number of hours worked weekly.
- 2). Multiply your overtime rate (usually 1.5) by your hourly wage, then multiply that figure by the number of hours of overtime worked weekly. If you work overtime only occasionally, use an average number of hours per week.
- 3). Add the totals from Step 1 and Step 2. This is your gross weekly income.
- 4). Multiply the result from Step 3 by 52. If you don't work a full 52-week year, multiply by the number of weeks you work. This is your gross annual income.
- 1). Add the net pay to any deductions withheld from your paycheck, such as FICA, Medicare, Federal, state and local taxes, retirement contributions and health insurance premiums.
- 2). Determine the gross amount of overtime pay you received per pay period. If you don't know the gross overtime amount, multiply your hourly rate by 1.5, then multiply that figure by the number of overtime hours worked. If you work overtime only occasionally, use an average number of overtime hours per pay period. Add this total to the total from Step 1..
- 3). Determine how often you're paid, whether weekly, every other week, monthly, etc.
- 4). Multiply the total from Step 2 by the number of paychecks you receive per year. For example, if you're paid weekly, multiply by 52. If you're paid every other week, multiply by 26. If you're paid monthly, multiply by 12. This is your gross annual income.
Gross Up Using Hourly Wage
Gross Up Using Pay Stub
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