Quick question... I'm paid biweekly, so when determining my monthly gross income, is it 2 X my biweekly pay or is it my annual salary divided by 12? I hope it's the latter, because obviously biweekly pay is a little less with 2 additional pays for the year. Thanks for any help figuring this out.
Well, biweekly should be your gross pay x 26 paydays so as to equal your annual salary. That should equal your annual salary divided by 12 months.
You can't multiply your biweekly pay by 2 to equal your monthly salary, because there are more than 4 weeks in a given month (except this month). Now if you were paid semi-monthly then it would by x 2 paydays to equal monthly pay.