Total gross household income includes all taxable and nontaxable revenues from all adults (18+) living in the home, from all sources, including but not limited to wages, salaries, unemployment, interest, dividends, spousal and child support payments, Social Security and Social Security Disability, pensions, rental income and net income from self-employment (energy assistance should not be included your income calculation).
• For hourly workers, take your hourly wage and multiply that by the average hours worked
weekly
• Multiply that number by 52 (weeks per year) to get your annual gross income
Example:
• $13.50 (hourly rate) x 40 (average hours worked per week) = $540
• $540 x 52 (weeks per year) = $28,080 (This is your annual gross income)
In case your household income changes from month to month, take your combined income from the last month and multiply it by 12 to calculate your average gross annual household income.
If you have questions about how to calculate your income, or what is considered
income, give us a call at 503-228-6322.