Pay Statement Analysis

Employee: Robert Patterson
Company: Vioxx, Inc.
Pay Statement Date: 07/15/24
Pay Frequency: Semi-monthly (24 periods/year)
Financial Element Current Pay Check YTD (Year-to-Date) Projected EOY (End-of-Year)
Pay Periods
Pay Periods 1
Gross Pay & Income
Regular/Salary Gross Pay $10,816.67 $148,168.62 $267,151.99
Commissions $0.00 $0.00 $0.00
Other Income Total $1,100.00 $22,894.41 $34,994.41
Holiday $1,100.00 - -
Total Gross Pay $11,916.67 $171,063.03 $302,146.40
Pre-Tax Deductions
401k/Roth $791.67 $10,000.00 $18,708.37
Total Pre-Tax Deductions $791.67 $10,000.00 $18,708.37
Taxes Withheld
Federal Income Tax $3,402.57 $46,449.86 $83,878.13
Social Security $0.00 $8,853.60 $8,853.60
Medicare $172.79 $2,480.41 $4,381.10
State Income Tax $947.08 $12,887.36 $23,305.24
Local Income Tax $484.52 $6,559.99 $11,889.71
NY OASDI/EE $0.55 $392.49 $398.54
Total Taxes Withheld $5,007.51 $77,623.71 $132,706.32
Post-Tax Deductions
401k/Roth (After-Tax) $0.00 $9,500.00 $9,500.00
Total Post-Tax Deductions $0.00 $9,500.00 $9,500.00
Net Pay
Net Pay $6,117.49 $73,939.32 $141,231.71

Notes

  • Internal inconsistency: The calculated net pay for the current period ($6,117.49) differs from the explicitly stated Net Pay ($6,909.16) on the paystub header. Additionally, the 'Pay Summary' section provides different current period gross, taxes, deductions, and net pay values than the detailed breakdowns.

How to Calculate the Report Values

This report shows your current pay period values, year-to-date totals, and projected end-of-year amounts based on your pay frequency and current earnings pattern.

End-of-Year Projections

End-of-year projections are calculated using the formula:

Projected EOY = YTD Amount + (Current Pay Period Amount × Remaining Pay Periods)

For example, if your YTD gross pay is $30,000, your current pay period gross is $5,000, and you have 20 pay periods remaining:

Projected EOY Gross Pay = $30,000 + ($5,000 × 20) = $130,000