Take-Home Paycheck Calculator
Calculate your net take-home pay after federal, state, and local taxes, retirement contributions, and other deductions. This calculator helps you understand how much money you'll actually receive in your paycheck.
Your Take-Home Pay: $0.00
| Gross Pay | $0.00 |
|---|---|
| Federal Income Tax | $0.00 |
| State Income Tax | $0.00 |
| Local Income Tax | $0.00 |
| Social Security Tax | $0.00 |
| Medicare Tax | $0.00 |
| Pre-tax Deductions | $0.00 |
| Post-tax Deductions | $0.00 |
About Take-Home Paycheck Calculator
This calculator helps you estimate your net take-home pay after all deductions, including federal, state, and local taxes, Social Security, Medicare, and any pre-tax or post-tax deductions from your paycheck.
How Take-Home Pay is Calculated
Your take-home pay is calculated by starting with your gross pay and then subtracting:
- Federal income tax (based on your filing status and deductions)
- State income tax (if applicable)
- Local income tax (if applicable)
- Social Security tax (6.2% of wages up to the wage base limit)
- Medicare tax (1.45% of all wages, plus an additional 0.9% for high earners)
- Any pre-tax deductions (retirement contributions, health insurance, etc.)
- Any post-tax deductions (union dues, garnishments, etc.)
Understanding Your Paycheck
Your paycheck may include several different types of deductions:
- Pre-tax deductions: These reduce your taxable income. Common examples include 401(k) contributions, health insurance premiums, and flexible spending accounts.
- Tax withholdings: These include federal, state, and local income taxes, as well as Social Security and Medicare taxes.
- Post-tax deductions: These are taken out after taxes are calculated. Examples include Roth 401(k) contributions, union dues, or wage garnishments.
Factors That Affect Your Take-Home Pay
Several factors can influence how much money you actually take home:
- Filing status: Single, married filing jointly, married filing separately, or head of household.
- Dependents: Children and other dependents can reduce your taxable income through tax credits.
- Additional income: Other sources of income may affect your tax bracket.
- Deductions: Both standard and itemized deductions can reduce your taxable income.
- State and local taxes: These vary widely depending on where you live.