Biweekly Payroll Calculator
Use this calculator to estimate your net pay for a biweekly pay period. Enter your gross pay and various deductions to see how much you'll take home after taxes and other contributions.
Your Biweekly Pay Estimate:
Enter your details and click "Calculate Net Pay" to see your estimate.
| Gross Pay: | $" + grossPay + " |
| Pre-Tax Deductions: | |
| Retirement Contribution: | $" + retirementContributionAmount + " |
| Health Insurance Premium: | $" + healthPremium + " |
| Total Pre-Tax Deductions: | $" + totalPreTaxDeductions + " |
| Taxable Gross Pay: | $" + taxableGrossPay + " |
| Taxes Withheld: | |
| Federal Income Tax: | $" + federalTax + " |
| State Income Tax: | $" + stateTax + " |
| Social Security Tax: | $" + socialSecurityTax + " |
| Medicare Tax: | $" + medicareTax + " |
| Total Taxes: | $" + totalTaxes + " |
| Post-Tax Deductions: | |
| Other Deductions: | $" + otherDeductions + " |
| Total Deductions: | $" + totalDeductions + " |
| Estimated Net Pay: | $" + netPay + " |
Understanding Biweekly Payroll
Biweekly payroll refers to a payment schedule where employees are paid every two weeks, resulting in 26 paychecks per year. This is one of the most common payroll frequencies in the United States, offering a consistent and predictable income stream for employees.
How Biweekly Payroll is Calculated
Calculating your biweekly net pay involves several steps, starting from your gross earnings and subtracting various deductions. Here's a breakdown of the typical components:
- Gross Pay: This is your total earnings for the two-week period before any deductions. It includes your regular wages, overtime, bonuses, and commissions.
- Pre-Tax Deductions: These are amounts subtracted from your gross pay before taxes are calculated. Common pre-tax deductions include contributions to 401(k) or other retirement plans, health insurance premiums, and Flexible Spending Accounts (FSAs). These deductions reduce your taxable income.
- Taxable Gross Pay: This is your gross pay minus any pre-tax deductions. Your income taxes (federal and state) and FICA taxes (Social Security and Medicare) are calculated based on this amount.
- Federal Income Tax: The amount withheld for federal income tax depends on your W-4 form, which specifies your filing status and any additional withholding.
- State Income Tax: Similar to federal tax, state income tax withholding varies by state and your W-4 elections (or state equivalent). Some states do not have state income tax.
- FICA Taxes (Social Security and Medicare): These are mandatory federal taxes. As of current rates, employees typically pay 6.2% for Social Security (up to an annual wage base limit) and 1.45% for Medicare, applied to your taxable gross pay.
- Post-Tax Deductions: These are deductions taken from your pay after all taxes have been calculated and withheld. Examples include union dues, garnishments, Roth 401(k) contributions, and certain charitable contributions.
- Net Pay: This is your "take-home pay" – the amount you receive after all pre-tax deductions, taxes, and post-tax deductions have been subtracted from your gross pay.
Why Use a Biweekly Payroll Calculator?
Understanding your biweekly pay stub can be complex due to the various deductions. A calculator like this helps you:
- Estimate Take-Home Pay: Get a clear picture of your net earnings.
- Plan Your Budget: Accurately budget your expenses based on your actual take-home income.
- Understand Deductions: See how different deductions (taxes, benefits, retirement) impact your final pay.
- Verify Pay Stubs: Compare the calculator's estimate with your actual pay stub to ensure accuracy.
- Evaluate Changes: Model the impact of changes to your gross pay, tax withholdings, or benefit contributions.
Disclaimer: This calculator provides an estimate based on the information you provide and general tax rates. Actual payroll calculations can vary due to specific state and local tax laws, individual W-4 elections, annual wage base limits for Social Security, and other unique deductions or benefits. Always refer to your official pay stub for exact figures.