Take-Home Paycheck Calculator
Estimate your net take-home pay with our accurate paycheck calculator. See a detailed breakdown of deductions including federal, state, and FICA taxes from your gross salary. An essential tool for budgeting, salary negotiation, and understanding your real income.
Inputs
Enter the required values to calculate.
Result
The calculated result will appear here.
More Information
Understanding the Paycheck Calculator
This calculator is designed to help you estimate your "take-home pay" or net pay by subtracting federal and state taxes, as well as other deductions, from your gross earnings. It's an essential tool for budgeting, comparing job offers, and understanding your real income.
From Gross Pay to Net Pay
- Gross Pay: This is your total salary or wages before any deductions.
- Pre-Tax Deductions: These are amounts taken out of your paycheck before taxes are calculated, reducing your taxable income. Common examples include 401(k) or 403(b) contributions, and health insurance premiums.
- Taxable Income: This is your gross pay minus pre-tax deductions.
- Taxes: The calculator estimates your tax liability based on your taxable income, filing status, and state. This includes:
- Federal Income Tax: Based on the 2024 US federal tax brackets and standard deductions.
- State Income Tax: Based on the flat percentage you provide (note: some states have more complex bracket systems).
- FICA Taxes: This includes Social Security (6.2% on income up to $168,600 in 2024) and Medicare (1.45% on all earnings).
- Net Pay (Take-Home Pay): This is what's left after all taxes and deductions have been subtracted.
This tool is an estimate for planning purposes. For precise figures, consult a qualified tax professional or your company's HR department.