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Discover the magic of compounding!

If you could have one of the following as your pay for thirty days' work, which would you choose?

(A) $10,000, or
(B) a penny the first day, two cents the second day, four cents the third day, eight cents the fourth day, and so on, with each day doubling on out to thirty days.

The $10,000 sounds very attractive, but the fact is that the penny doubled each day for thirty days adds up to over five million dollars. Of course, that is 100% interest compounded daily, a rate not available to most of us working folk. Nevertheless, this example shows you the power of compounding on your investment earnings.

Please try our wide variety of financial calculators. Interactive calculations, dynamic graphs and fully customizable reports are just a few of the features that make our calculators stand out!

Paycheck Calculators & Financial Calculators

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Paycheck Calculators: Salary / Hourly / Tips / Gross-up Your Net / Bonus (Aggregate Method) / Bonus (Percentage Method) / Form W-4

The following payroll calculators are complimentary. These calculators are intended to provide you with estimates, but are not guaranteed to exactly match results achieved during the actual payroll processing cycle. You are welcome to utilize these tools to calculate manual checks, or just calculate "what if" scenarios.

The Salary Paycheck Calculator	Here you may calculate your net pay or "take home pay." Take home pay is what is left from your wages after withholdings for taxes and deductions for benefits have been subtracted. Salaried employees can enter either their annual salary or earnings per pay period.
The Hourly Paycheck Calculator	Here you may calculate take home pay based on up to six different hourly pay rates that you enter. This is perfect for those who are paid on a changing hourly basis.
The Tip Tax Calculator	For those who receive tips, here is an easy way to verify or anticipate what your paycheck will be. For our calculations, we assume that the tip is already received by the employee.
Gross Up Paycheck Calculator	Here you may calculate the gross check based on what you want the net amount to be.
Bonus Aggregate Calculator	Here you may calculate a Bonus check using the aggregate method.
Bonus Percentage Calculator	Here you may calculate a Bonus check using the percentage method.
Form W-4 Assistant	This tool will take you step by step through the process of filling out a Form W-4. The W-4 form determines how much of your pay is withheld to pay Federal, and in some cases, state and local taxes. As the last step, you can even print an official copy to give to the payroll department at your company.

Financial Calculators:

Note: These calculators require that you have Java installed on your computer. It is available, without charge, at the Sun Microsystems web site. If your browser displays a blank box in the middle of the screen, you need to install this plug-in.

Mortgage Calculators	Loan Calculators
Credit Cards and Debt Management	Automobile Calculators
Investment Calculators	Retirement Savings and Planning
Tax Calculators	Savings Calculators
Personal Finance	Business Calculators

Mortgage Calculators:
Bi-weekly Payment Calculator
Bi-weekly Payments: Existing Mortgage
Adjustable Rate Mortgage Payments
Mortgage APR Calculator
Adjustable Rate Mortgage APR Calculator
ARM vs. Fixed Rate Mortgage
Balloon Mortgages
Blended Rate Mortgage Calculator
Mortgage 15 vs. 30
Fixed Rate vs. Interest Only Mortgage
Fixed Rate Mortgage vs. LIBOR ARM
Mortgage Income Requirements
Interest Only Mortgage
Mortgage Calculator
Mortgage Calculator with PITI
Maximum Mortgage
Mortgage Payoff
Mortgage Points
Mortgage Qualifier
Refinance Breakeven
Rent vs. Buy
Mortgage Tax Savings Calculator
Refinance Interest Savings


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Loan Calculators:
Balloon Loan Calculator
Loan Comparison Calculator
Alternative Payment Frequencies
Debt Consolidator
Line of Credit
Enhanced Loan Calculator
Existing Loan Calculator
Loan & Credit Line Tax Savings
Loan Prequalification Calculator
Equity Line of Credit Payments
Loan & Credit Line Payments
Line of Credit Payoff
Amortizing Loan Calculator

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Credit Cards and Debt Management:
Credit Card Optimizer
Accelerated Debt Payoff
How much Do You Owe?
Personal Debt Consolidation
Rolldown Your Credit Card Debt!
Consolidation Loan Investment Calculator
Credit Card Payoff

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Automobile Calculators:
Bi-weekly Auto Loan Payments
Auto Loan vs Home Equity Loan
Auto Loans
Low Interest Financing Savings
Auto Loan Early Payoff
Auto Rebate
Lease vs. Buy
Dealer vs. Credit Union Financing
Biweekly Payments for an Auto Loan

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Investment Calculators:
Asset Allocator
Mutual Fund Expense Calculator
Future Contracts Calculator
Investment Loan
Investment Returns
Annual Stock Option Grants
Stock Option Calculator
Municipal Bond Tax Equivalent Yield

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Retirement Savings and Planning:
Variable Annuity Calculator
Fixed Annuity Calculator
Immediate Annuity Calculator
How Important Is Social Security?
Pension Plan Retirement Options
Regular IRA Calculator
401(k) Savings Calculator
Roth vs. Traditional 401(k)
403(b) Savings Calculator
457 Savings Calculator
72T Distribution Impact
72T Calculator
Beneficiary Required Minimum Distributions
Required Minimum Distributions
Retirement Income Calculator
Retirement Planner
Retirement Pension Planner
Retirement Shortfall Calculator
Spend it or Save it Calculator
Roth IRA Calculator
Roth IRA Transfer
Roth vs. Traditional IRA
Social Security
Net Unrealized Appreciation vs. Rollover
RMD & Stretch IRA Calculator

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Tax Calculators:
Payroll Deductions
Estate Tax Planning
Payroll Deductions
Section 125 Cafeteria Plan
Net to Gross Paycheck Calculator
Hourly Paycheck Calculator
U.S. 1040 Tax Estimator
U.S. 1040EZ Tax Estimator
Marginal Tax Calculator
Self-Employment Tax Estimator

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Savings Calculators:
CD Ladder Calculator
Certificate of Deposit
College Savings Plan
Compare Savings Rates
Compound Interest
Savings Calculator
Savings Distribution Calculator
Emergency Savings Calculator
Lunch Savings Calculator
Cool Million
Savings Goals
Savings, Taxes and Inflation
Benefit of Spending Less
Don't Delay Your Savings

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Personal Finance:
Checkbook Balancer
Credit Assessment
Disability Calculator
Comprehensive Life Insurance Analysis
Basic Calculator
Basic Financial Calculator
Home Budget Analyzer
Human Life Value
Should My Spouse Work?
Life Insurance Calculator
Life Expectancy
Long-Term Care Calculator
Net Worth Calculator
Student Budget Analyzer

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Business Calculators:
Buy vs Lease
Consolidate Debt
Sales Volume Breakeven Analysis
Business Valuation
Working Capital Needs
Cash Flow Calculator
Credit Assessment
Commercial Loan Calculator
Inventory Analysis
Profit Margin Calculator
Financial Ratios
Amortizing Loan Calculator

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2007 Payroll and Reporting Information


1. Social Security and Medicare Taxes:

The tax rates for social security and medicare taxes have remained unchanged, but the social security wage limit has increased. For social security, the rate is 6.2% (.062) on a wage limit of $97,500 (maximum deduction of $6,045.00). For medicare, the rate is 1.45% (.0145) on all earnings. These rates apply to both employee and employer.

2. Withholding and Deposit Requirements:

You should receive the 2007 Circular E, Employer's Tax Guide, in January. This booklet includes the updated 2007 withholding tax tables and gives additional information about deposit rules and other tax information. NY State & City withholding tables have been updated for 2007. To access these tables online go to
http://www.tax.state.ny.us/pdf/2006/wt/nys_with_tax_tables_106.pdf.
Federal taxes can be deposited electronically using the internet or telephone. If you are interested, contact our office or find out more at www.eftps.gov for Federal info. New York State & City taxes can be deposited electronically. If you are interested, contact our office or find out more at http://www.tax.state.ny.us/pdf/2007/promptax/tr370n_407.pdf

3. Federal Employment Taxes:
The FUTA tax deposit threshold has remained at $500 for 2007. FUTA tax is deposited quarterly when the cumulative tax liability exceeds the $500 threshold amount. The FUTA rate of .08% (.008) and the $7,000 wage limit have not changed.

4. State Employment and Transit Taxes:
The wage limit for New York unemployment taxes has increased to $8,500 for 2007. The tax rate depends on your unemployment claim experience. You should have received a rate notice from the Employment Department.


5. Form W-4:
All new employees should fill out a Form W-4 when they start work. Employees who claim to be exempt from income tax withholding must fill out a new Form W-4 each year by February 15. The IRS no longer requires employers to send copies of Forms W-4 claiming more that 10 allowances or certain Forms W-4 claiming exemption from withholding unless requested by the IRS.

6. Form I-9:
You must obtain INS Form I-9 (Employment Eligibility Verification) from each new employee, generally within three days of the date of employment. This form is then retained for the longer of three years or for one year after the person's employment is terminated. Refer to the "Handbook for Employers" for instructions and information about the form.

7. Information Returns:
A reminder that every person engaged in a trade or business is required to file an information return (Form 1099) each calendar year to report certain payments made in the course of such trade or business to another person for rents, interest, fees, commissions, services and other income payments totaling $600 or more (except amounts reported on Form W-2). IRS Package 1099 gives instructions and additional information on filing requirements.

8. New Hire Reporting Form:
All employers are required to file a "New Hire Reporting Form" with the NY State Department of Labor no later than 20 days after the date the employer hires or rehires an employee.

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