How much did I make last year?

Question

My current job identifies my earnings as salaried with possibility for overtime at the traditional time and a half rate. I began my current position about 3 years ago at 23,500 and have had a 2% raise each year, but also work a good deal of overtime. I just don't know which number to look at, or which series of numbers to add up on my W-2 to get my gross and net totals. It sounds like a really dumb question, but numbers are just not my thing and my HR person is really intimidating... please help!!!! Thanks :)

Answer 1

The important numbers on your W-2 are Box 1, which is your total compensation from that employer, and Boxes 2 and 17, which show federal and state withholding.  Your pay stubs for each pay period will show how your pay is broken down for that period and for the year to date.  Your pay stubs will also show each deduction, including SS and Medicare, and other deductions such as for retirement plans etc.  Box 1, by the way, shows your total earnings less any tax deferred deductions such as for a retirement plan.  This amount will be in box 12, so if you add this amount to Box 1, it will give you your gross earnings for the year.  Remember, the W-2 is a year-end summary.  Most of the information you need will be on the pay stub.

Answer 2

Salaried with over-time?  Have never heard of one before.

Anyway, your pay stub should tell you your based pay of a certain amount. Divide that by 80 (bi-monthly) and that gives you the hourly rate.