Take-Home Pay Calculator
Calculate your net pay after taxes and deductions
Understanding Your Paycheck
How Your Pay is Calculated:
Your take-home pay is what remains of your gross salary after taxes and other deductions are subtracted.
- Gross Pay: Your total earnings before any deductions
- Pre-tax Deductions: Items like retirement contributions and health insurance that reduce your taxable income
- Taxable Income: Your gross pay minus pre-tax deductions
- Tax Withholding: Federal, state, and FICA (Social Security and Medicare) taxes
- Post-tax Deductions: Any additional deductions taken after taxes
- Net Pay (Take-Home): What's deposited into your bank account
Tax Withholding Details:
Federal Income Tax
Progressive tax with rates from 10% to 37% based on income level and filing status. Calculated after standard or itemized deductions.
State Income Tax
Varies by state, with some states having no income tax and others using either flat or progressive rates.
FICA Taxes
Social Security: 6.2% of wages up to $160,200 (2023)
Medicare: 1.45% of all wages, plus 0.9% additional for high earners
Tax Benefits of Pre-Tax Deductions
Increasing your pre-tax contributions (like 401(k) or health insurance) can:
- Reduce your current taxable income
- Potentially lower your tax bracket
- Increase your retirement savings
- Provide both immediate and long-term tax advantages
Calculate Your Take-Home Pay
Income Information
$
Deductions & Withholdings
%
401(k), 403(b), or other pre-tax retirement plan
$
Medical, dental, vision, etc. (pre-tax)
$
FSA, HSA, commuter benefits, etc.
$
Extra amount withheld per pay period
$
If greater than standard deduction ($13,850.00)
Your Take-Home Pay
Gross Pay (biweekly):
$0.00
Net Pay (biweekly):
$0.00
0.0% of gross pay
Annual Net Income:
$0.00
26 pay periods per year
Effective Tax Rate:
0.0%
Combined federal, state, and FICA taxes
Deduction Breakdown (per pay period)
Federal Income Tax:
$0.00
NaN%
State Income Tax:
$0.00
NaN%
Social Security Tax:
$0.00
NaN%
Medicare Tax:
$0.00
NaN%
Retirement Contribution:
$144.23
5%
Health Insurance:
$150.00
Infinity%
Paycheck Visualization
Where Does Your Money Go?
Deductions vs. Take-Home Pay
Understanding Taxes and Deductions
Federal Tax Brackets (2023)
| Tax Rate | Single | Married Filing Jointly |
|---|---|---|
| 10% | $0 - $11,000 | $0 - $22,000 |
| 12% | $11,001 - $44,725 | $22,001 - $89,450 |
| 22% | $44,726 - $95,375 | $89,451 - $190,750 |
| 24% | $95,376 - $182,100 | $190,751 - $364,200 |
| 32% | $182,101 - $231,250 | $364,201 - $462,500 |
| 35% | $231,251 - $578,125 | $462,501 - $693,750 |
| 37% | Over $578,125 | Over $693,750 |
Note: Tax brackets are applied progressively, meaning you pay each rate only on the income that falls within that bracket.
Common Pre-Tax Deductions
Traditional 401(k)/403(b)
Contributions reduce your taxable income now, but withdrawals in retirement are taxed. 2023 limit: $22,500 ($30,000 if 50+).
Health Insurance Premiums
Employer-sponsored health, dental, and vision insurance premiums are typically paid with pre-tax dollars.
HSA/FSA Contributions
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) allow pre-tax contributions for qualified medical expenses.
Commuter Benefits
Pre-tax dollars for qualified parking and transit expenses. 2023 limit: $300 monthly for parking and $300 monthly for transit.
Dependent Care FSA
Pre-tax contributions for eligible childcare expenses. 2023 limit: $5,000 per household.
Tax Withholding Tips
- Review your W-4: Regularly check your W-4 form to ensure it reflects your current situation (marriage, children, additional income).
- Adjust withholding: If you consistently receive large tax refunds or owe money at tax time, consider adjusting your withholding.
- Multiple jobs: If you work more than one job, make sure sufficient tax is withheld from all income sources.
- Life changes: Update your W-4 when you experience major life changes like marriage, divorce, birth of a child, or buying a home.
- Use the IRS Tax Withholding Estimator: The IRS offers an online tool to help determine the correct withholding amount.
FICA Taxes Explained
FICA (Federal Insurance Contributions Act) taxes fund Social Security and Medicare programs. These taxes are shared equally between employers and employees.
| Tax | Rate | Wage Base (2023) |
|---|---|---|
| Social Security | 6.2% | $160,200 |
| Medicare | 1.45% | No limit |
| Additional Medicare Tax | 0.9% | Applies to earnings over $200,000 (single) or $250,000 (married) |