How to Calculate a Bimonthly Paycheck
- 1). Calculate your yearly gross earnings. If you are paid an hourly wage, multiply that amount by the number of hours worked in a full year. Include paid vacation or other paid time off. If you work 40 hours per week, the multiplying factor is 2080.
- 2). Obtain a list of paycheck withholdings from your payroll departmen. Withholdings may be stated in percentages of your pay or in flat rates. Typical deductions include federal and state taxes, health care and child care premiums, retirement investments, disability insurance, Social Security and Medicare. Add all of these withholding together to find the total deductions taken from your yearly gross wages. Subtract that total from your yearly gross income to calculate your yearly net income.
- 3). Divide your yearly net income by 6 to calculate your bimonthly net pay. To calculate your net pay on any pay cycle, divide your yearly net income by the number of times you are paid in one year.
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