Paycheck calculating help

[TangoJuliet]

I am leaving my job and I have 26 days of vacation that they are going to pay out to me on a bi-weekly basis for the next couple months.

Figuring I have 26 days x 8 hours = 208 hours
208 hours x $25.50/hr = $5304

I tried to find something online that would take the taxes out, etc but couldnt get it to work right. Can someone figure out for me the net pay for me?

I live in NY, get paid every 2 weeks, my federal filiing status is married, I have zero federal or state or local allowances. I have NY SDI and do not pay city tax. I also do not have any voluntary deductions at this time (ie 401k). Also, I forgot to mention that every other pay check I have union dues which is about $65.

 

[KLin]

http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

 

[TangoJuliet]

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

yep, I just went there and couldnt get it to work out correctly.

 

[TangoJuliet]

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

Yeah but how much am I getting every paycheck? Do I just divide that number by 4?

 

[bctbct]

Why would it be different than what you made your last paycheck?

 

[TangoJuliet]

Originally posted by: bctbct
Why would it be different than what you made your last paycheck?

um because I work OT and I have deductions like my 401k and my xmas deductions. after i leave i will no longer be making those deductions and I wont be working OT. the money is strictly my vacation days that I am being paid for in incriments of every 2 weeks until there are no more hours left to be paid....make sense?

 

[KLin]

Originally posted by: alkohoLiK

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

Yeah but how much am I getting every paycheck? Do I just divide that number by 4?

divide it by 5.2, that's how many 40 hour work weeks there are in 208 hours.

EDIT: divide it by 2.6 to get the 2 week payperiod paycheck.

EDIT #2: I didn't do it by 2 week payperiods(80 hours worked). I actually come up with 4201.93 now.

 

[TangoJuliet]

Originally posted by: KLin

Originally posted by: alkohoLiK

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

Yeah but how much am I getting every paycheck? Do I just divide that number by 4?

divide it by 5.2, that's how many 40 hour work weeks there are in 208 hours.

EDIT: divide it by 2.6 to get the 2 week payperiod paycheck.

thats not right because thats an average....for example I'll get two checks for $2000 each and 1 check for say $300. by dividing it that way I'll get 3 checks of 1591 each which would not be correct.

 

[KLin]

Originally posted by: alkohoLiK

Originally posted by: KLin

Originally posted by: alkohoLiK

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

Yeah but how much am I getting every paycheck? Do I just divide that number by 4?

divide it by 5.2, that's how many 40 hour work weeks there are in 208 hours.

EDIT: divide it by 2.6 to get the 2 week payperiod paycheck.

thats not right because thats an average....for example I'll get two checks for $2000 each and 1 check for say $300. by dividing it that way I'll get 3 checks of 1591 each which would not be correct.

They're going to pay it out at a 40 hour work week right? So at 25.50 an hour, your gross income for a paycheck would be 2040 correct?

 

[Nocturnal]

I use Paycheckcity every pay period since I get paid by commission. I find that it underestimates my pay - that's a good thing though. But it is fairly accurate.

 

[TangoJuliet]

I think I figured it out now.

Yes, I get paid at 40 hours per week and I get paid bi-weekly.

Using the calculator that you linked earlier KLin my salary breaks down to an average of $1547 every check with zero deductions after taxes. I believe the salary was $2040 before taxes.

Therefore I will be getting 2 checks of $1547 each and then the last check will only have 4 days pay on it. That pay would be around $816 prior to taxes. Using the calculation of about 24% in taxes each check I would wind up with around $621 on the last check....for a total of about $3715. Does that come out right?

Edit...forgot to mention that I said I would have 26 days (208 hours total) but 4 of those days will be used in conjunction with my last week on the job so it wont be included in the total.

 

[KLin]

hmm that ain't right.

 

[TangoJuliet]

Originally posted by: KLin
hmm that ain't right.

I made an edit. There will only be 22 days total of vacation pay because I am using 4 days before I actually leave the job so I can move.

 

[TangoJuliet]

ah, i cant figure it out....i forgot to deduct the union dues. not so easy after all, eh?

 

[Dunbar]

You're also forgetting that this is additional income so the federal taxes will be taxed at your marginal tax rate. If your spouse works I am assuming this will be 25 or 28% depending on your adjusted gross income. New York State income tax is similiar but will be 6.85% if your combined income is less than 100k. Social security is 6.2% for income under $97,500 and medicare is 1.45% of all income. Not sure about SDI, you'll have to look at an old pay stub.

 

[kranky]

I see no reason why union dues should be deducted once you leave the job. I would object to that.

 

[EagleKeeper]

Look at what your last paycheck was. - Pay period #1
And then take half of that again. - Pay Period #2

You will come pretty close for what they will pay you for the two pay periods.

 

[mugs]

Originally posted by: alkohoLiK

Originally posted by: KLin

Originally posted by: alkohoLiK

Originally posted by: KLin
http://www.paycheckcity.com/co...e/netpaycalculator.asp

I come up with 4185.79 after taxes using the above calculator and deducting the union dues from each check(I divided it by 2 to deduct it from every paycheck) pretax. Posttax I come up with 4137.53

Yeah but how much am I getting every paycheck? Do I just divide that number by 4?

divide it by 5.2, that's how many 40 hour work weeks there are in 208 hours.

EDIT: divide it by 2.6 to get the 2 week payperiod paycheck.

thats not right because thats an average....for example I'll get two checks for $2000 each and 1 check for say $300. by dividing it that way I'll get 3 checks of 1591 each which would not be correct.

Not 3 checks of 1591, 2 checks of 1591 + 1 check of (.6 * 1591).

 

[bonkers325]

multiply your gross by 0.65, and that is a slight overestimate on your net pay.

 

[TangoJuliet]

Thanks for the replies everyone. I just talked with my manager and found out some new info.

Here is the situation......

Technically my last day of work will be Nov. 16 but I will have 7 vacation/personal days left which will extend my status until the 26th. However because the 22nd and 23rd are holidays I will be able to accrue them - meaning my last day of work is the 27th.

Our pay periods are bi-weekly and the week begins with Sun and ends on Sat. My final full paycheck will be on the 23rd which will cover the weeks of the Nov 11-24. That being said I will have 3 days that will roll into the next check.

I also have 112 hours of vacation time that will be paid out in 1 check and I'm guessing it would include the other 3 days that I mentioned before. So 136 hours will be on that one check. No union dues will be required from me after the date of the 27th because I wont be working there so nothing will be deducted from this check.


Summary: So all I need to know is how much will I clear on a check with 136 hours on it with the forementioned filling status.