Calculating the taxes withheld from your paycheck can seem complex, but it's a crucial part of understanding your net earnings. Your gross pay is the total amount you earn before any deductions, and your net pay is what you actually take home after all taxes and other deductions are subtracted.
Key Tax Components
Gross Pay: This is your total earnings before any deductions are taken out. It typically includes your base salary, hourly wages, overtime, bonuses, and commissions.
Federal Income Tax: This tax supports federal government programs and services. The amount withheld depends on your income level, filing status (single, married, etc.), and the number of allowances you claim on your W-4 form. The percentage you input into the calculator is a simplified representation of your withholding.
State Income Tax: Many states levy their own income tax to fund state-specific services. The rates vary significantly by state, and some states have no income tax at all.
Medicare Tax: This federal tax helps fund the Medicare program, which provides health insurance for seniors and individuals with disabilities. It's a flat rate applied to all your earned income.
Social Security Tax: This federal tax funds the Social Security program, which provides retirement, disability, and survivor benefits. There is typically an annual wage base limit for this tax; income above this limit is not subject to Social Security tax for that year.
How the Calculator Works
This calculator simplifies the process by using your stated withholding percentages. The formulas used are:
Total Taxes = Federal Tax Amount + State Tax Amount + Medicare Tax Amount + Social Security Tax Amount
Net Pay = Gross Pay – Total Taxes
Note: This calculator provides an estimate. Actual withholding can be affected by additional voluntary deductions (like 401(k) contributions, health insurance premiums), tax credits, specific state tax laws, and income limitations for certain taxes (like Social Security). For precise figures, consult your pay stub or a tax professional.
When to Use This Calculator
Understanding Your Paycheck: Quickly see how much of your gross pay goes towards taxes.
Budgeting: Estimate your take-home pay for better financial planning.
Evaluating W-4 Changes: If you're considering adjusting your W-4 form, this calculator can help you project the impact on your net pay.
Comparing Job Offers: Get a clearer picture of the net income from different employment opportunities.
function calculateTaxes() {
var grossPay = parseFloat(document.getElementById("grossPay").value);
var federalTaxRate = parseFloat(document.getElementById("federalTaxRate").value);
var stateTaxRate = parseFloat(document.getElementById("stateTaxRate").value);
var medicareRate = parseFloat(document.getElementById("medicareRate").value);
var socialSecurityRate = parseFloat(document.getElementById("socialSecurityRate").value);
var netPayDisplay = document.getElementById("netPay");
var federalTaxAmountDisplay = document.getElementById("federalTaxAmount");
var stateTaxAmountDisplay = document.getElementById("stateTaxAmount");
var medicareTaxAmountDisplay = document.getElementById("medicareTaxAmount");
var socialSecurityTaxAmountDisplay = document.getElementById("socialSecurityTaxAmount");
var totalTaxAmountDisplay = document.getElementById("totalTaxAmount");
var isValid = true;
if (isNaN(grossPay) || grossPay < 0) {
alert("Please enter a valid Gross Pay.");
isValid = false;
}
if (isNaN(federalTaxRate) || federalTaxRate 100) {
alert("Please enter a valid Federal Tax Rate (0-100%).");
isValid = false;
}
if (isNaN(stateTaxRate) || stateTaxRate 100) {
alert("Please enter a valid State Tax Rate (0-100%).");
isValid = false;
}
if (isNaN(medicareRate) || medicareRate 100) {
alert("Please enter a valid Medicare Tax Rate (0-100%).");
isValid = false;
}
if (isNaN(socialSecurityRate) || socialSecurityRate 100) {
alert("Please enter a valid Social Security Tax Rate (0-100%).");
isValid = false;
}
if (!isValid) {
netPayDisplay.textContent = "$0.00";
federalTaxAmountDisplay.textContent = "$0.00";
stateTaxAmountDisplay.textContent = "$0.00";
medicareTaxAmountDisplay.textContent = "$0.00";
socialSecurityTaxAmountDisplay.textContent = "$0.00";
totalTaxAmountDisplay.textContent = "$0.00";
return;
}
var federalTaxAmount = grossPay * (federalTaxRate / 100);
var stateTaxAmount = grossPay * (stateTaxRate / 100);
var medicareTaxAmount = grossPay * (medicareRate / 100);
var socialSecurityTaxAmount = grossPay * (socialSecurityRate / 100);
var totalTaxAmount = federalTaxAmount + stateTaxAmount + medicareTaxAmount + socialSecurityTaxAmount;
var netPay = grossPay – totalTaxAmount;
// Format currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
netPayDisplay.textContent = formatter.format(netPay);
federalTaxAmountDisplay.textContent = formatter.format(federalTaxAmount);
stateTaxAmountDisplay.textContent = formatter.format(stateTaxAmount);
medicareTaxAmountDisplay.textContent = formatter.format(medicareTaxAmount);
socialSecurityTaxAmountDisplay.textContent = formatter.format(socialSecurityTaxAmount);
totalTaxAmountDisplay.textContent = formatter.format(totalTaxAmount);
}