Calculate your net income after taxes and deductions
Single
Married (Joint)
Your Estimated Pay Breakdown
Annual Net Income:
Monthly Net Pay:
Bi-weekly Net Pay:
Total Annual Taxes & Deductions:
Understanding Your Take Home Pay
Take home pay, often referred to as net income, is the amount of money an employee actually receives in their bank account after all taxes and voluntary deductions have been subtracted from their gross salary. Understanding this figure is critical for budgeting and financial planning.
Key Components of the Calculation
Gross Salary: Your total earnings before any taxes or deductions are removed.
Federal Income Tax: Calculated based on IRS tax brackets. This calculator uses 2024 standard deductions ($14,600 for single, $29,200 for married).
FICA (Social Security & Medicare): A mandatory payroll tax. Employees typically pay 6.2% for Social Security and 1.45% for Medicare.
State Income Tax: Varies significantly by state, ranging from 0% (e.g., Texas, Florida) to over 10% in high-tax states.
Pre-tax Deductions: Contributions like 401(k) or Traditional IRAs that reduce your taxable income.
Example Calculation
If you earn an annual gross salary of $80,000 as a single filer:
Gross: $80,000
FICA (7.65%): -$6,120
Federal Tax (Est): -$9,200
State Tax (e.g., 5%): -$4,000
401k (6%): -$4,800
Net Take Home: ~$55,880 annually (~$4,656 per month)
Note: This calculator provides an estimate based on simplified 2024 tax brackets. Actual results may vary based on specific tax credits, local taxes, and exact deduction timings.
function calculateTakeHome() {
var gross = parseFloat(document.getElementById('grossSalary').value);
var filingStatus = document.getElementById('filingStatus').value;
var stateRateInput = parseFloat(document.getElementById('stateTax').value);
var k401RateInput = parseFloat(document.getElementById('k401').value);
var health = parseFloat(document.getElementById('healthInsurance').value) || 0;
var other = parseFloat(document.getElementById('otherDeductions').value) || 0;
if (isNaN(gross) || gross <= 0) {
alert("Please enter a valid annual salary.");
return;
}
var stateTaxRate = isNaN(stateRateInput) ? 0 : stateRateInput / 100;
var k401Rate = isNaN(k401RateInput) ? 0 : k401RateInput / 100;
// 1. Pre-tax deductions
var annualK401 = gross * k401Rate;
// 2. FICA Taxes (Social Security 6.2% up to limit, Medicare 1.45% no limit)
// Simplified: 7.65%
var ficaTax = gross * 0.0765;
// 3. Federal Income Tax
var stdDeduction = (filingStatus === 'single') ? 14600 : 29200;
var taxableIncome = Math.max(0, gross – stdDeduction – annualK401);
var fedTax = 0;
if (filingStatus === 'single') {
if (taxableIncome <= 11600) fedTax = taxableIncome * 0.10;
else if (taxableIncome <= 47150) fedTax = 1160 + (taxableIncome – 11600) * 0.12;
else if (taxableIncome <= 100525) fedTax = 5426 + (taxableIncome – 47150) * 0.22;
else if (taxableIncome <= 191950) fedTax = 17168 + (taxableIncome – 100525) * 0.24;
else if (taxableIncome <= 243725) fedTax = 39110 + (taxableIncome – 191950) * 0.32;
else fedTax = 55678 + (taxableIncome – 243725) * 0.35;
} else {
if (taxableIncome <= 23200) fedTax = taxableIncome * 0.10;
else if (taxableIncome <= 94300) fedTax = 2320 + (taxableIncome – 23200) * 0.12;
else if (taxableIncome <= 201050) fedTax = 10852 + (taxableIncome – 94300) * 0.22;
else if (taxableIncome <= 383900) fedTax = 34337 + (taxableIncome – 201050) * 0.24;
else fedTax = 78221 + (taxableIncome – 383900) * 0.32;
}
// 4. State Tax
var stateTaxTotal = gross * stateTaxRate;
// 5. Post-tax/Other Deductions (Monthly to Annual)
var annualHealth = health * 12;
var annualOther = other * 12;
// Final Calculation
var totalTaxAndDeductions = fedTax + ficaTax + stateTaxTotal + annualK401 + annualHealth + annualOther;
var annualNetValue = gross – totalTaxAndDeductions;
if (annualNetValue < 0) annualNetValue = 0;
var monthlyNetValue = annualNetValue / 12;
var biweeklyNetValue = annualNetValue / 26;
// Format Currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
document.getElementById('annualNet').innerText = formatter.format(annualNetValue);
document.getElementById('monthlyNet').innerText = formatter.format(monthlyNetValue);
document.getElementById('biweeklyNet').innerText = formatter.format(biweeklyNetValue);
document.getElementById('totalDeductions').innerText = formatter.format(totalTaxAndDeductions);
document.getElementById('resultArea').style.display = 'block';
}