Take-Home Paycheck Calculator
Calculate your net take-home pay after federal income tax, Social Security, Medicare, and other deductions. Choose between salary or hourly pay calculations.
Pay Summary
Tax Breakdown
Pay Period Breakdown
Understanding Your Take-Home Pay
Take-home pay is the amount you actually receive after all taxes and deductions are withheld from your gross pay. Understanding these withholdings helps you budget effectively and plan for your financial goals.
Common Tax Withholdings
Federal Income Tax
- Progressive tax based on income brackets
- Rates from 10% to 37%
- Withheld using W-4 allowances
- Adjusted annually for inflation
FICA Taxes
- Social Security: 6.2% up to $168,600 (2024)
- Medicare: 1.45% on all wages
- Additional Medicare: 0.9% over $200,000
- Split between employee and employer
State Income Taxes
State income tax rates vary significantly across the United States. Some states have no income tax, while others have rates comparable to federal taxes.
| State | Top Rate | Notes |
|---|---|---|
| California | 13.3% | Highest state rate |
| Texas | 0% | No state income tax |
| Florida | 0% | No state income tax |
| New York | 10.9% | Progressive brackets |
| Illinois | 4.95% | Flat rate |
Pre-Tax vs. Post-Tax Deductions
Pre-Tax Deductions
- 401(k) contributions
- Health insurance premiums
- Dependent care FSA
- Commuter benefits
- Reduce taxable income
Post-Tax Deductions
- Garnishments
- Charitable contributions
- Union dues
- Life insurance
- Taken from net pay
Pay Period Calculations
Your take-home pay varies depending on how often you're paid. Understanding these differences helps with budgeting and cash flow planning.
Pay Period Examples
Weekly Pay
52 pay periods per year
Best for cash flow
Bi-Weekly Pay
26 pay periods per year
Most common
Semi-Monthly
24 pay periods per year
Twice monthly
Monthly
12 pay periods per year
Largest single payment
W-4 Form and Withholding
W-4 Adjustments
- Multiple jobs
- Spouse works
- Dependents
- Extra withholding
- Tax credits
Common Issues
- Under-withholding penalties
- Large tax refunds
- Year-end bonuses
- Retirement contributions
- State tax variations
Tax Planning Strategies
Increase Withholding
Adjust W-4
Extra amounts
Avoid penalties
Maximize Pre-Tax
401(k) contributions
Health savings
Reduce taxable income
Tax Credits
Child tax credit
Earned income credit
Education credits
Key Takeaways
- Take-home pay is gross pay minus all taxes and deductions
- Federal income tax uses progressive brackets
- FICA taxes (Social Security + Medicare) are 7.65% for most workers
- State income tax rates vary from 0% to 13.3%
- Pre-tax deductions reduce your taxable income
- Pay frequency affects budgeting and cash flow
- W-4 adjustments can optimize withholding
- Consult a tax professional for personalized advice