{
  "id": "gross-income",
  "version": "fb3aa6db5781",
  "status": "published",
  "name": "Gross Income Calculator",
  "question": "What is my gross income per month?",
  "summary": "Computes gross monthly and yearly income (before tax) from pay for any period plus other income such as tips, bonuses or rent.",
  "category": "finance",
  "subcategory": "tax-and-pay",
  "url": "https://www.acalculator.org/finance/gross-income-calculator",
  "markdown": "https://www.acalculator.org/finance/gross-income-calculator.md",
  "kind": "function",
  "method": "yearly income = pay × times paid a year + other income a year, where hourly pay is paid hours a week × weeks, daily pay days a week × weeks, weekly pay weeks, two-weekly pay weeks ÷ 2, twice-monthly pay 24, monthly pay 12 and yearly pay 1 time; monthly income = yearly ÷ 12.",
  "assumptions": [
    "Income is gross: before income tax, Social Security and Medicare tax, and other deductions.",
    "A year has 52 weeks. Unpaid weeks off lower the paid weeks for hourly, daily, weekly and two-weekly pay; monthly, twice-monthly and yearly pay do not depend on weeks.",
    "Every paid hour earns the same rate: overtime at a higher rate is not included unless you add it to other income.",
    "Other income is added as entered, per month or per year."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "pay": {
        "title": "Your pay",
        "description": "Your gross pay (before tax) for the period chosen below.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000
      },
      "per": {
        "title": "Paid",
        "description": "The period your pay is for: per hour, day, week, two weeks, half month, month or year.",
        "type": "string",
        "enum": [
          "hour",
          "day",
          "week",
          "biweek",
          "semimonth",
          "month",
          "year"
        ]
      },
      "hours": {
        "title": "Hours a week",
        "description": "The hours you are paid for in a week.",
        "type": "number",
        "exclusiveMinimum": 0,
        "maximum": 168
      },
      "days": {
        "title": "Days a week",
        "description": "The days you are paid for in a week.",
        "type": "number",
        "exclusiveMinimum": 0,
        "maximum": 7
      },
      "weeks": {
        "title": "Paid weeks a year",
        "description": "The weeks you are paid for in a year: 52, less any unpaid weeks off.",
        "type": "number",
        "exclusiveMinimum": 0,
        "maximum": 53
      },
      "other": {
        "title": "Other income",
        "description": "Other gross income such as tips, a bonus, commission, side work or rent received.",
        "type": "number",
        "x-unit": "USD",
        "x-period": "month",
        "minimum": 0,
        "maximum": 1000000000
      }
    }
  },
  "outputs": {
    "annual": {
      "label": "Gross income per year",
      "description": "All gross income for a year: pay plus other income.",
      "format": "money"
    },
    "monthly": {
      "label": "Gross income per month",
      "description": "The gross income per year ÷ 12.",
      "format": "money"
    },
    "biweekly": {
      "label": "Every two weeks",
      "description": "The gross income per year ÷ 26.",
      "format": "money"
    },
    "weekly": {
      "label": "Per week",
      "description": "The gross income per year ÷ 52.",
      "format": "money"
    },
    "wages": {
      "label": "From your pay",
      "description": "Your pay for a year: pay × the times it is paid in a year.",
      "format": "money"
    },
    "otherYear": {
      "label": "Other income per year",
      "description": "Other income for a year.",
      "format": "money"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "pay": 1900,
      "per": "biweek",
      "hours": 40,
      "days": 5,
      "weeks": 52,
      "other": 0
    },
    "outputs": {
      "annual": 49400,
      "monthly": 4116.666666666667,
      "biweekly": 1900,
      "weekly": 950,
      "wages": 49400,
      "otherYear": 0
    },
    "text": "Pay of $1,900.00 every two weeks and $0.00 a year of other income is a gross income of $4,116.67 a month."
  },
  "examples": [
    {
      "given": {
        "pay": 22,
        "per": "hour",
        "hours": 40,
        "weeks": 52,
        "other": 300
      },
      "expect": {
        "wages": 45760,
        "otherYear": 3600,
        "annual": 49360,
        "monthly": 4113.333333333333
      },
      "source": "hand calculation in content.mdx: 22 × 40 × 52 = 45,760; + 300 × 12 = 49,360; ÷ 12 = 4,113.33"
    },
    {
      "given": {
        "pay": 2100,
        "per": "biweek",
        "weeks": 52
      },
      "expect": {
        "annual": 54600,
        "monthly": 4550
      },
      "source": "hand calculation in content.mdx: 2,100 × 26 = 54,600; ÷ 12 = 4,550"
    },
    {
      "given": {
        "pay": 65000,
        "per": "year"
      },
      "expect": {
        "monthly": 5416.666666666667
      },
      "source": "hand calculation in content.mdx: 65,000 ÷ 12 = 5,416.67"
    },
    {
      "given": {
        "pay": 950,
        "per": "week",
        "weeks": 52,
        "other": 250
      },
      "expect": {
        "annual": 52400,
        "monthly": 4366.666666666667
      },
      "source": "hand calculation in content.mdx: 950 × 52 = 49,400; + 250 × 12 = 52,400; ÷ 12 = 4,366.67"
    }
  ],
  "sources": [
    "26 U.S.C. 61(a): gross income means all income from whatever source derived. https://www.law.cornell.edu/uscode/text/26/61",
    "Consumer Financial Protection Bureau, What is a debt-to-income ratio? (all monthly debt payments divided by gross monthly income). https://www.consumerfinance.gov/ask-cfpb/what-is-a-debt-to-income-ratio-en-1791/",
    "29 CFR 778.113(b): 52 weeks, 12 months and 24 half months in a year. https://www.law.cornell.edu/cfr/text/29/778.113"
  ],
  "related": [
    "annual-income",
    "debt-to-income-ratio",
    "salary"
  ],
  "changelog": []
}