How to Solve for the Number of Pay Periods
- 1). Check with the payroll department to find out which method is used. If you are paid weekly, you receive 52 paychecks; bi-weekly means 26 paychecks; semi-monthly means 24 paychecks; and monthly means 12 paychecks. Semi-monthly paychecks are usually paid on the 15th and 30th of the month.
- 2). Once you know the number of pay periods, calculate the amount of your take home pay. You need your hourly rate, number of deductions, filing status, state and local income tax rates, FICA and Medicare rates, and pretax deductions.
- 3). Use an online calculator, such as Bankrate.com, if you make changes in your deductions, or if you increase your 401K contribution.
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