Paycheck Calculator
Find out how much of your salary actually makes it to your bank account. This paycheck calculator estimates your take-home pay after federal and state taxes, Social Security, Medicare, and other deductions.
How We Calculate This
This calculator estimates taxes using 2024 federal tax brackets and FICA rates. State taxes use a flat rate approximation. Actual withholding may vary based on W-4 settings and local taxes.
Frequently Asked Questions
How is federal income tax calculated?
Federal income tax uses progressive tax brackets. In 2024, rates range from 10% to 37%. Your taxable income is reduced by the standard deduction ($14,600 single, $29,200 married) before applying brackets.
What are FICA taxes?
FICA includes Social Security (6.2% on income up to $168,600 in 2024) and Medicare (1.45% on all income, plus 0.9% on income over $200,000). Your employer pays matching amounts.
How do pre-tax deductions affect my paycheck?
401(k) contributions and health insurance premiums are deducted before taxes, reducing your taxable income. A 6% 401(k) contribution saves you more than 6% in taxes.
Which states have no income tax?
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming have no state income tax. Set your state tax rate to 0% if you live in one of these states.
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