Paycheck Calculator
Estimate your take-home pay after federal and state taxes. Plan your budget with accurate net income projections.
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Common Paycheck Planning Applications
Estimating take-home pay before accepting a job offer, modeling the impact of a raise or bonus on net income, comparing pre-tax versus Roth 401(k) contributions, projecting health insurance premium changes during open enrollment, planning HSA contributions alongside FSA usage, evaluating state residency decisions based on state income tax differences, planning for the additional 0.9% Medicare surcharge for high earners, deciding between increasing 401(k) deferrals or taking cash bonuses, and verifying employer withholding accuracy against IRS Publication 15-T worksheets.
How Federal Income Tax Withholding Is Calculated
Starts with your annual gross pay, subtracts pre-tax deductions (401(k), HSA contributions, and employer-sponsored health insurance premiums) to get adjusted gross income. Then subtracts the standard deduction for your filing status to get taxable income, which is run through progressive federal tax brackets (10%, 12%, 22%, 24%, 32%, 35%, 37%) so each slice is taxed only at its own marginal rate. Social Security tax applies 6.2% up to the annual wage base ($168,600 in 2024, $176,100 in 2025). Medicare tax applies 1.45% on all wages plus an additional 0.9% on wages above $200,000 for single filers or $250,000 for married filing jointly. State income tax is computed using actual progressive brackets for the selected state, while local tax (such as NYC or Philadelphia) is a flat percentage. The remainder is your annual net pay, divided by your pay frequency (26 bi-weekly, 24 semi-monthly, 52 weekly, 12 monthly).
Fun Fact: The Social Security wage base was just $3,000 in 1937 when the program started — and the tax rate was 1.0% on both employee and employer. In 2024, employees pay 6.2% on wages up to $168,600, meaning a maximum-earner contributes over $10,400 per year. The wage base adjusts annually based on national average wages; in 2026 it is projected to reach $184,500, a 60,000x increase from the program's first year.
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