Paycheck / Take-Home Pay Calculator
Estimate take-home pay after federal tax, Social Security (6.2%), and Medicare (1.45%).
Supports hourly and salary with weekly, biweekly, and monthly cycles.
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Take-Home Pay Estimate
Paycheck tax calculation estimates your take-home pay after federal income tax, state income tax, Social Security, and Medicare are withheld. Understanding your withholdings helps you plan your budget accurately.
The Formula:
Net Pay = Gross Pay − Federal Income Tax − State Income Tax − Social Security − Medicare − Other deductions
Federal Withholding (2024 rates, single filer):
| Taxable Income (annual) | Marginal Rate |
|---|---|
| $0 – $11,600 | 10% |
| $11,601 – $47,150 | 12% |
| $47,151 – $100,525 | 22% |
| $100,526 – $191,950 | 24% |
FICA Taxes (flat rates):
- Social Security: 6.2% of gross (on first $168,600 of wages in 2024)
- Medicare: 1.45% of gross (no income limit)
Worked Example:
Biweekly paycheck, $65,000 annual salary, single, no other adjustments:
- Gross per paycheck: $65,000 / 26 = $2,500
- Social Security: $2,500 × 6.2% = $155
- Medicare: $2,500 × 1.45% = $36.25
- Federal income tax withheld ≈ $235 (based on W-4 tables)
- State tax (varies): assume 4.5% = $112.50
- Total deductions: $538.75
- Net take-home: ~$1,961.25
Practical Tips:
- Pre-tax deductions (401k, HSA, health insurance premiums) reduce your taxable income before withholding is calculated
- Claiming the correct number of allowances on Form W-4 prevents large tax bills or unnecessary over-withholding
- Self-employed workers pay both employer and employee FICA (15.3% total) — use quarterly estimated tax payments
- State rates vary from 0% (Texas, Florida) to over 13% (California)