Paycheck Calculator

Calculate your take-home pay, tax deductions, and net income from gross salary. Essential tool for salary planning, job negotiations, and personal budgeting.

Paycheck Calculation Results

Gross Pay

$0.00

Total Deductions

$0.00

Net Take-Home

$0.00

Deduction Breakdown

Federal Income Tax: $0.00
State Income Tax: $0.00
Social Security (6.2%): $0.00
Medicare (1.45%): $0.00
Additional Deductions: $0.00

How It Works

Step-by-Step Instructions:

  1. Enter Annual Salary: Input your gross annual salary before any deductions
  2. Select Pay Frequency: Choose how often you receive paychecks (weekly, bi-weekly, etc.)
  3. Set Filing Status: Select your tax filing status for accurate federal tax calculations
  4. Configure Deductions: Enter state tax rate, allowances, and additional deductions
  5. Calculate Results: Click "Calculate" to see your take-home pay and tax breakdown

Tax Calculation Standards:

Federal Tax = (Gross Pay - Allowances × $4,300) × Tax Rate

Source: IRS Publication 15 (Circular E) - Employer's Tax Guide

FICA Taxes = Social Security (6.2%) + Medicare (1.45%)

Source: Social Security Administration 2024 rates

Real-World Example:

Scenario: Software developer with $80,000 annual salary

  • Annual Salary: $80,000
  • Pay Frequency: Bi-weekly (26 paychecks)
  • Filing Status: Single
  • State Tax Rate: 5%
  • Gross Per Paycheck: $3,076.92
  • Total Deductions: $918.46
  • Net Take-Home: $2,158.46

Analysis: Approximately 30% goes to taxes and deductions, leaving 70% as take-home pay. Consider 401k contributions to reduce taxable income.

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Frequently Asked Questions

What's the difference between gross and net pay?

Gross pay is your total earnings before any deductions. Net pay (take-home pay) is what you receive after taxes, insurance, 401k contributions, and other deductions are subtracted from your gross pay.

How accurate are the tax calculations?

Our calculator uses current federal tax brackets and standard FICA rates. However, actual taxes may vary based on additional factors like local taxes, specific deductions, and tax credits. Consult a tax professional for precise calculations.

What should I include in additional deductions?

Include pre-tax deductions like 401k contributions, health insurance premiums, dental/vision insurance, HSA contributions, and parking fees. These reduce your taxable income and lower your tax burden.

How do I choose the right number of allowances?

More allowances mean less tax withheld from each paycheck. Use the IRS W-4 worksheet or online withholding calculator to determine the right number based on your filing status, dependents, and other income sources.

Does this calculator work for all states?

The calculator uses a general state tax rate that you can adjust. Some states have no income tax, while others have complex tax structures. Enter your state's average rate or consult your state's tax authority for specific rates.

Important Disclaimer

Payroll Calculation Tool: This paycheck calculator is provided for educational and informational purposes only. The calculations are based on general tax guidelines and should not be considered as professional tax or financial advice.

Tax Accuracy Notice: Tax calculations are estimates based on current federal rates and general guidelines. Actual paycheck amounts may vary due to local taxes, specific deductions, tax credits, and employer-specific policies.

Professional Consultation: For accurate tax planning and payroll questions, consult with qualified tax professionals, certified public accountants, or your employer's HR department. Tax laws change frequently and vary by jurisdiction.

Compliance Notice: This tool does not constitute tax advice or guarantee accuracy of tax calculations. Users are responsible for verifying all tax information with appropriate authorities and professionals.