Paycheck Calculator
Estimate your take-home pay after federal income tax. Enter your gross salary, how often you get paid, and your filing status to see your net paycheck amount.
How to Use
1
Enter your annual gross salary.
2
Select your pay frequency (weekly, bi-weekly, etc.).
3
Select your filing status.
4
Optionally enter pre-tax deductions (401k, health insurance).
5
Click Calculate.
6
Review your gross and net paycheck, taxes, and annual take-home.
Formula
Gross Paycheck
Annual Salary / Pay Periods per Year
Net Paycheck
Gross - Federal Tax - FICA - Pre-Tax Deductions
FICA
Social Security (6.2%) + Medicare (1.45%) = 7.65%
Example Calculation
A Single filer earning $60,000/year, paid bi-weekly (26 paychecks), with $0 pre-tax deductions:
Gross Paycheck = $60,000 / 26 = $2,307.69
Federal Tax = ~$217/paycheck
FICA = $2,307.69 x 7.65% = $176.54
Net Paycheck = ~$1,914
Annual Take-Home = ~$49,764
Gross Paycheck = $60,000 / 26 = $2,307.69
Federal Tax = ~$217/paycheck
FICA = $2,307.69 x 7.65% = $176.54
Net Paycheck = ~$1,914
Annual Take-Home = ~$49,764
Why It Matters
Your gross salary is not what you take home. Federal taxes, Social Security, and Medicare reduce your paycheck by 20-30% or more. This calculator helps you understand your actual take-home pay for budgeting and financial planning.
Who Uses This Calculator?
- • People comparing loan, mortgage, salary, savings, tax, or investment scenarios before making a money decision.
- • Homeowners, borrowers, employees, freelancers, and small business owners who need fast estimates without a spreadsheet.
- • Anyone who wants to understand the inputs, formula, and tradeoffs behind a financial result.
Frequently Asked Questions
What is the difference between gross and net pay?
Gross pay is your total earnings before deductions. Net pay (take-home pay) is what you actually receive after federal taxes, Social Security, Medicare, and any pre-tax deductions are subtracted.
What is FICA?
FICA (Federal Insurance Contributions Act) includes Social Security tax (6.2% on income up to $168,600 in 2024) and Medicare tax (1.45% on all income). Your employer matches these contributions.
How can I increase my take-home pay?
Contributing to a 401(k) or HSA reduces your taxable income, which lowers your federal tax. However, it also reduces your current paycheck. Use this calculator to compare different deduction levels.
Does this include state taxes?
No, this calculator estimates federal taxes only. State income tax varies widely (0% in Texas and Florida to 13.3% in California). Check your state tax authority for state-specific rates.
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This calculator provides estimates for informational purposes only and is not financial, tax, or legal advice. Consult a qualified professional before making financial decisions.