Paycheck Calculator

1. Enter your gross salary (annual or per paycheck).
2. Select how often you are paid (weekly, bi-weekly, etc.).
3. Choose your federal filing status.
4. Enter your state income tax rate.
5. Add optional pre-tax deductions like 401(k) and health insurance.
6. View your estimated take-home pay and full tax breakdown.
7. Check the annual summary for a yearly overview of all deductions.

How Paycheck Tax Calculations Work

Your paycheck goes through several deductions before reaching your bank account. First, pre-tax deductions (401k, health insurance) are subtracted from gross pay. Then, the standard deduction is applied to determine federal taxable income. Federal income tax is calculated using progressive brackets, where higher portions of income are taxed at higher rates.

FICA taxes (Social Security at 6.2% and Medicare at 1.45%) are calculated on gross wages without the standard deduction. Social Security has a wage base cap of $168,600 for 2024, meaning income above that amount is not subject to the 6.2% tax. Medicare has no cap, and an additional 0.9% applies to earnings over $200,000.

State income tax varies significantly by state. Some states have no income tax, while others have flat rates or progressive brackets. This calculator uses a flat rate input for simplicity. Your effective tax rate represents the total percentage of your gross income that goes to all taxes combined, typically between 20% and 35% for most workers.