am I missing something here? gross pay not adding to annual salary

[Puppies04]

OP is this your facebook?

 

[dank69]

I would NEVER want to do bimonthly, unless they overpaid like hell.

Wait, how does getting paid once every 2 months help achieve that?

Typically your bills are due the same date every month, right? It's also nice when you get your paychecks deposited on the same dates every month.

My company used to do bi-monthly but went to bi-weekly recently. Doesn't matter all that much unless you are living paycheck to paycheck or flirting with low balances.

 

[Tiamat]

I went to a couple of 'paycheck calculator sites, and when I calculate a paycheck for a salary of 54,500, it spits out a biweekly gross pay of $2096.15. $2096.15 * 24 pay periods only adds up to $50,3076.6. This is Texas.

Am I missing something? Since this is Gross, all taxes, filing status shouldn't matter right? And the Gross * 24 pay periods should add to the annual salary.

http://www.paycheckcity.com/cokronos/netpaycalculator.asp
http://www.netpay-payroll.com/calculator.html

Ive been working on a budget and estimating my net pay based on different salaries. If this is wrong, that means I get a couple more hundred per paycheck!

52 weeks not equal to 365 days. Part of the missing amount gets paid the next year first paycheck.

 

[Pray To Jesus]

Before: Noob going to get schooled on how taxes work.

After: Noob schooled on how calendars work.

Hmmm. . .

 

[NetGuySC]

lol. your right.

/end thread.

Hey you made a mistake and owned up to it, Props to you!!

 

[Schfifty Five]

Typically your bills are due the same date every month, right? It's also nice when you get your paychecks deposited on the same dates every month.

My company used to do bi-monthly but went to bi weekly recently. Doesn't matter all that much unless you are living paycheck to paycheck or flirting with low balances.

Bi monthly as in you only got 6 checks a year?

 

[dank69]

Bi monthly as in you only got 6 checks a year?

No. Twice a month. 24 checks a year.

 

[Schfifty Five]

No. Twice a month. 24 checks a year.

That's semi-monthly then. Completely different than bi-monthly, which is why Hacp and myself responded that way. See my post at #13.

 

[kt]

Bi-monthly is so much better. Makes keeping a monthly budget super easy.

You keep using that word, I do not think it means what you think it means.

 

[dank69]

That's semi-monthly then. Completely different than bi-monthly, which is why Hacp and myself responded that way. See my post at #13.

Bimonthly and semimonthly are synonyms:

Full Definition of BIMONTHLY

1
: occurring every two months
2
: occurring twice a month : semimonthly

Although bimonthly can mean either every two months or twice a month, when someone says they get paid bimonthly everyone knows they mean twice a month because it is extremely rare for anyone to be paid every other month.

 

[Schfifty Five]

Bimonthly and semimonthly are synonyms:Although bimonthly can mean either every two months or twice a month, when someone says they get paid bimonthly everyone knows they mean twice a month because it is extremely rare for anyone to be paid every other month.

Well, then I am doing my part to change the world to use "bi" and "semi" correctly :biggrin:

 

[PenguinPower]

That's semi-monthly then. Completely different than bi-monthly, which is why Hacp and myself responded that way. See my post at #13.

Bi-monthly can be used interchangeably with semi-monthly, especially when talking about payroll.

 

[PenguinPower]

Bimonthly and semimonthly are synonyms:Although bimonthly can mean either every two months or twice a month, when someone says they get paid bimonthly everyone knows they mean twice a month because it is extremely rare for anyone to be paid every other month.

And, in many states, illegal.

 

[Schfifty Five]

Bi-monthly can be used interchangeably with semi-monthly, especially when talking about payroll.

It's just weird to hear someone use bi weekly to mean every other week, and then also say bi-monthly to mean twice a month. The correct way would be to say semi-monthly so as to not cause confusion. Seems almost a bit lazy for people to use bi for weekly and monthly and mean different things. Not consistent.

 

[Golgatha]

lulz

 

[PenguinPower]

It's just weird to hear someone use bi weekly to mean every other week, and then also say bi-monthly to mean twice a month. The correct way would be to say semi-monthly so as to not cause confusion. Seems almost a bit lazy for people to use bi for weekly and monthly and mean different things. Not consistent.

What defines the correct way? I think we've already established the bi-monthly is being used correctly.

 

[Schfifty Five]

What defines the correct way? I think we've already established the bi-monthly is being used correctly.

I guess by webster's or merriam's defintion, it's correct. But on a logical standpoint, I think "bi" and "semi" should be used to define "every other ____" and "twice a ____", respectively as that should create less confusion than saying "bi" and having it mean two completely different things.

Hell, we should just get rid of "bi" and "semi" and say every other week, or twice a month.

 

[PenguinPower]

I guess by webster's or merriam's defintion, it's correct. But on a logical standpoint, I think "bi" and "semi" should be used to define "every other ____" and "twice a ____", respectively as that should create less confusion than saying "bi" and having it mean two completely different things.

Hell, we should just get rid of "bi" and "semi" and say every other week, or twice a month.

So, by your definition it isn't correct. Gotcha.

 

[Schfifty Five]

So, by your definition it isn't correct. Gotcha.

That's correct.

 

[kt]

So, by your definition it isn't correct. Gotcha.

English language taking the easy/lazy way out of changing the definition of a word just to appease the confused individuals.

Ironically, their intention is to make things less confusing but all it does it make MORE people even more confused.

 

[CPA]

52 weeks not equal to 365 days. Part of the missing amount gets paid the next year first paycheck.

Sorry, that doesn't happen at any reputable company. Salary gets divided by 26 pay periods not by 365 days.

 

[CraKaJaX]

so what company is hiring someone who can't read a calendar?

 

[Schfifty Five]

Sorry, that doesn't happen at any reputable company. Salary gets divided by 26 pay periods not by 365 days.

What's up w/ the necro bump?

 

[CPA]

What's up w/ the necro bump?

Check out the Ownage of the Year candidates thread.

 

[Puppies04]

Well, then I am doing my part to change the world to use "bi" and "semi" correctly :biggrin:

Are you "bi" cus I've got a "semi"