Free Hourly Payroll Calculator

Free Hourly Payroll Calculator

Payroll Summary

Regular Pay:

Overtime Pay:

Gross Pay:

Pre-tax Deductions:

Taxable Gross:

Estimated Taxes:

Post-tax Deductions:

Net Pay:

function calculatePayroll() { var hourlyWage = parseFloat(document.getElementById('hourlyWage').value); var regularHours = parseFloat(document.getElementById('regularHours').value); var overtimeHours = parseFloat(document.getElementById('overtimeHours').value); var overtimeMultiplier = parseFloat(document.getElementById('overtimeMultiplier').value); var preTaxDeductions = parseFloat(document.getElementById('preTaxDeductions').value); var taxRate = parseFloat(document.getElementById('taxRate').value); var postTaxDeductions = parseFloat(document.getElementById('postTaxDeductions').value); // Validate inputs if (isNaN(hourlyWage) || hourlyWage < 0) hourlyWage = 0; if (isNaN(regularHours) || regularHours < 0) regularHours = 0; if (isNaN(overtimeHours) || overtimeHours < 0) overtimeHours = 0; if (isNaN(overtimeMultiplier) || overtimeMultiplier < 1) overtimeMultiplier = 1; // Overtime multiplier should be at least 1 if (isNaN(preTaxDeductions) || preTaxDeductions < 0) preTaxDeductions = 0; if (isNaN(taxRate) || taxRate 100) taxRate = 0; // Tax rate between 0 and 100 if (isNaN(postTaxDeductions) || postTaxDeductions < 0) postTaxDeductions = 0; // Calculate Regular Pay var regularPay = hourlyWage * regularHours; // Calculate Overtime Pay var overtimePay = hourlyWage * overtimeHours * overtimeMultiplier; // Calculate Gross Pay var grossPay = regularPay + overtimePay; // Calculate Taxable Gross (Gross Pay – Pre-tax Deductions) var taxableGross = grossPay – preTaxDeductions; if (taxableGross < 0) taxableGross = 0; // Ensure taxable gross doesn't go negative // Calculate Estimated Taxes var estimatedTaxes = taxableGross * (taxRate / 100); // Calculate Net Pay (Taxable Gross – Estimated Taxes – Post-tax Deductions) var netPay = taxableGross – estimatedTaxes – postTaxDeductions; if (netPay < 0) netPay = 0; // Ensure net pay doesn't go negative // Display results document.getElementById('displayRegularPay').innerText = '$' + regularPay.toFixed(2); document.getElementById('displayOvertimePay').innerText = '$' + overtimePay.toFixed(2); document.getElementById('displayGrossPay').innerText = '$' + grossPay.toFixed(2); document.getElementById('displayPreTaxDeductions').innerText = '$' + preTaxDeductions.toFixed(2); document.getElementById('displayTaxableGross').innerText = '$' + taxableGross.toFixed(2); document.getElementById('displayEstimatedTaxes').innerText = '$' + estimatedTaxes.toFixed(2); document.getElementById('displayPostTaxDeductions').innerText = '$' + postTaxDeductions.toFixed(2); document.getElementById('displayNetPay').innerText = '$' + netPay.toFixed(2); document.getElementById('payrollResult').style.display = 'block'; }

Understanding Your Hourly Payroll

An hourly payroll calculator is an essential tool for both employees and employers to accurately estimate earnings and deductions for a given pay period. Unlike salaried positions, hourly pay fluctuates based on the number of hours worked, including regular and overtime hours, making a calculator particularly useful for forecasting income.

What is Hourly Pay?

Hourly pay refers to the compensation an employee receives for each hour they work. This rate is typically agreed upon before employment begins. The total amount earned before any deductions is known as your Gross Pay.

Components of Your Hourly Paycheck:

• Hourly Wage: This is your base rate of pay per hour.
• Regular Hours Worked: The standard hours you work at your base hourly wage. Typically, this is up to 40 hours in a workweek, though it can vary by state and company policy.
• Overtime Hours Worked: Hours worked beyond the standard regular hours. In many regions, overtime is paid at a higher rate, commonly 1.5 times (time and a half) your regular hourly wage. The Overtime Multiplier accounts for this increased rate.
• Regular Pay: Calculated by multiplying your hourly wage by your regular hours worked.
• Overtime Pay: Calculated by multiplying your hourly wage by your overtime hours worked, and then by the overtime multiplier.
• Gross Pay: The sum of your regular pay and overtime pay. This is your total earnings before any deductions.

Understanding Deductions:

Once your gross pay is determined, various deductions are subtracted to arrive at your Net Pay (the amount you actually take home).

• Pre-tax Deductions: These are deductions taken from your gross pay before taxes are calculated. Common examples include contributions to 401(k) plans, health insurance premiums, or flexible spending accounts (FSAs). These deductions reduce your taxable income.
• Taxable Gross: This is your gross pay minus any pre-tax deductions. Your income taxes are calculated based on this amount.
• Estimated Tax Rate: This is the percentage of your taxable gross income that is withheld for federal, state, and local taxes. This calculator provides an estimate; actual tax rates can be complex and depend on many factors.
• Estimated Taxes: The amount of money withheld from your taxable gross for income taxes.
• Post-tax Deductions: These are deductions taken from your pay after taxes have been calculated and withheld. Examples include Roth 401(k) contributions, union dues, garnishments, or certain types of insurance premiums.
• Net Pay: This is your final take-home pay after all pre-tax deductions, taxes, and post-tax deductions have been subtracted from your gross pay.

How to Use This Calculator:

1. Enter your Hourly Wage: Input your standard hourly rate.
2. Input Regular Hours Worked: Enter the number of hours you worked at your regular rate.
3. Input Overtime Hours Worked: If applicable, enter any hours worked beyond your regular schedule.
4. Set Overtime Multiplier: Adjust this if your overtime rate is different from the standard 1.5x.
5. Add Pre-tax Deductions: Enter any amounts deducted before taxes (e.g., 401k, health insurance).
6. Enter Estimated Tax Rate: Provide an estimated percentage for your total income tax burden.
7. Add Post-tax Deductions: Input any amounts deducted after taxes (e.g., Roth 401k, union dues).
8. Click "Calculate Payroll": The calculator will instantly display a detailed breakdown of your earnings and deductions, culminating in your estimated net pay.

Disclaimer: This calculator provides an estimate for informational purposes only. Actual payroll calculations may vary based on specific company policies, local tax laws, and other factors. Consult with a payroll professional or tax advisor for precise figures.