Calculate your take-home pay with our comprehensive paycheck calculator. Estimate your net pay after federal taxes, state taxes, FICA deductions, and other withholdings to understand exactly what you'll receive in each paycheck.
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Calculating your paycheck involves understanding the difference between gross pay and net pay. Our paycheck calculator helps you estimate your take-home pay by considering federal income tax, state income tax, FICA taxes (Social Security and Medicare), and other common deductions. Whether you receive weekly, bi-weekly, semi-monthly, or monthly paychecks, this calculator provides accurate estimates for your net pay after all withholdings.
Federal income tax withholding depends on your filing status, number of dependents, and income level as specified on your W-4 form. State income tax varies significantly by state - some states like Texas, Florida, Nevada, and Washington have no state income tax, while others like California, New York, and Hawaii have higher rates. Our paycheck estimator considers these variations to provide accurate take-home pay calculations for your specific state.
FICA taxes include Social Security tax (6.2% up to the annual wage base limit) and Medicare tax (1.45% on all earnings). High earners may also pay an additional 0.9% Medicare surtax on income over $200,000 (single) or $250,000 (married filing jointly). These payroll taxes fund Social Security benefits and Medicare programs, and both employees and employers contribute equal amounts.
Pre-tax deductions like health insurance premiums, dental insurance, vision insurance, and traditional 401(k) contributions reduce your taxable income, lowering your overall tax burden. Post-tax deductions like Roth 401(k) contributions, life insurance premiums, and union dues are taken from your after-tax income. Understanding the difference helps you optimize your paycheck and maximize your take-home pay while building long-term wealth.
To calculate take-home pay, subtract all deductions from your gross pay: federal income tax, state income tax, Social Security (6.2%), Medicare (1.45%), and any pre-tax deductions like health insurance or 401(k) contributions. Our paycheck calculator automates this process for accurate results.
Bi-weekly pay occurs every two weeks (26 paychecks per year), while semi-monthly pay occurs twice per month (24 paychecks per year). Bi-weekly results in two extra paychecks annually, which can help with budgeting and savings goals.
Financial experts recommend contributing at least enough to get your full employer match, typically 3-6% of your salary. The 2024 401(k) contribution limit is $23,000 ($30,500 if 50 or older). Use our paycheck calculator to see how contributions affect your take-home pay.
Nine states have no state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. Living in these states can significantly increase your take-home pay compared to high-tax states like California or New York.
Our paycheck calculator provides estimates based on current federal and state tax rates and standard deduction amounts. Actual paychecks may vary due to specific tax situations, additional deductions, or employer-specific factors. For precise calculations, consult your HR department.
FICA taxes fund Social Security and Medicare. You pay 6.2% for Social Security (up to the wage base limit) and 1.45% for Medicare (on all income). High earners pay an additional 0.9% Medicare surtax. Your employer matches these contributions.
Increase take-home pay by optimizing tax withholdings, maximizing pre-tax deductions (401k, HSA, health insurance), claiming all eligible tax credits, and ensuring your W-4 accurately reflects your tax situation to avoid over-withholding.
Traditional 401(k) contributions reduce current taxable income (higher take-home pay now), while Roth 401(k) contributions are made with after-tax dollars but grow tax-free. Consider your current vs. expected future tax bracket when deciding.
Review withholdings annually or after major life changes: marriage, divorce, new dependents, job changes, or significant income changes. Use the IRS withholding calculator and update your W-4 as needed to optimize your take-home pay and avoid large tax bills or refunds.