This calculator will help you to quickly convert a wage stated in one periodic term (hourly, weekly, etc.) into its equivalent stated in all other common periodic terms. This can be helpful when comparing your present wage to a wage being offered by a prospective employer where each wage is stated in a different periodic term (e.g., one is listed as an hourly wage and the other is listed as annually).
Simply enter a wage, select it's periodic term from the pull-down menu, enter the number of hours per week the wage is based on, and click on the "Convert Wage" button.
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We publish current Ashburn savings & CD rates. Savers can use the filters at the top of the table to adjust their initial deposit amount along with the type of account they are interested in: high interest savings, certificates of deposit, money market accounts and interest bearing checking accounts.
How Much Do You Earn?
Each year has 12 months in it. Semi-monthly means twice per month, so each year has 24 semi-monthly periods in it.
The following table shows the equivalent semi-monthly pay for various annual salaries presuming each payment is the same throughout the year. The first column shows the equivalent semi-monthly untaxed income & the second column shows the equivalent after-tax income presuming a flat 25% income tax rate. This table is only for illustrative purposes as people will get taxed at different levels depending upon their income, their family situation, donations to charities & other deductions. The income tax system has both progressive & regressive aspects.
- Progressive: As income increases the core income tax rate can go up from 10% to as high as 37%. There are also Federal Insurance Contributions Act (FICA) taxes, which combine to pay for Social Security & Medicare.
- Regressive: Social security payments as a portion of self-employment taxes cap out at 12.4% of up to $132,900 in 2019, while the Medicare tax rate of 2.9% does not have a limit. Long-term capital gains are taxed at lower rates than ordinary earned income.
January, March, May, July, August,October, and December have 31 days, while February, April, June, September, and November have 30 days. February typically has 28 days except on leap years when it has 29 days. If you are paid an even sum for each month, to convert annual salary into monthly salary divide the annual salary by 24. If you are paid in part based on how many days are in each month then divide your annual salary by 365 (or 366 on leap years) & then multiply that number by the number of days in the month to calculate monthly salary. Divide that number by 2 and you have the semi-monthly salary.
|Annual Income||Semi-monthly Pretax Income||Taxes @ 25%||Post-tax Income|