How to Calculate Your Paycheck

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Paycheck Calculator

Hourly Weekly Bi-Weekly Semi-Monthly Monthly Annual Salary
Weekly Bi-Weekly Semi-Monthly Monthly

Your Paycheck Summary (Per Pay Period)

Enter your details and click "Calculate Paycheck" to see your estimated net pay.

function calculatePaycheck() { var payRateInput = parseFloat(document.getElementById("payRateInput").value); var payRateType = document.getElementById("payRateType").value; var hoursWorked = parseFloat(document.getElementById("hoursWorked").value); var payFrequency = document.getElementById("payFrequency").value; var preTaxDeductions = parseFloat(document.getElementById("preTaxDeductions").value); var retirementContribution = parseFloat(document.getElementById("retirementContribution").value); var federalTaxRate = parseFloat(document.getElementById("federalTaxRate").value); var stateTaxRate = parseFloat(document.getElementById("stateTaxRate").value); var postTaxDeductions = parseFloat(document.getElementById("postTaxDeductions").value); if (isNaN(payRateInput) || payRateInput < 0) { document.getElementById("result").innerHTML = "Please enter a valid positive number for Pay Rate."; return; } if (payRateType === "Hourly" && (isNaN(hoursWorked) || hoursWorked < 0)) { document.getElementById("result").innerHTML = "Please enter valid positive hours worked per pay period."; return; } if (isNaN(preTaxDeductions) || preTaxDeductions < 0) preTaxDeductions = 0; if (isNaN(retirementContribution) || retirementContribution < 0) retirementContribution = 0; if (isNaN(federalTaxRate) || federalTaxRate < 0) federalTaxRate = 0; if (isNaN(stateTaxRate) || stateTaxRate < 0) stateTaxRate = 0; if (isNaN(postTaxDeductions) || postTaxDeductions < 0) postTaxDeductions = 0; var annualGrossPay; var payPeriodsPerYear; switch (payFrequency) { case "Weekly": payPeriodsPerYear = 52; break; case "Bi-Weekly": payPeriodsPerYear = 26; break; case "Semi-Monthly": payPeriodsPerYear = 24; break; case "Monthly": payPeriodsPerYear = 12; break; default: document.getElementById("result").innerHTML = "Invalid Pay Frequency selected."; return; } switch (payRateType) { case "Hourly": annualGrossPay = payRateInput * hoursWorked * (payPeriodsPerYear / (payFrequency === "Weekly" ? 1 : (payFrequency === "Bi-Weekly" ? 2 : (payFrequency === "Semi-Monthly" ? 2 : 4)))); // This logic is tricky. If hoursWorked is per pay period, then annualGrossPay = payRateInput * hoursWorked * payPeriodsPerYear. // Let's assume hoursWorked is per pay period, and the payRateInput is the hourly rate. // So, if payFrequency is Bi-Weekly, hoursWorked is for two weeks. // Corrected: annualGrossPay = hourlyRate * (hoursWorkedPerPeriod * payPeriodsPerYear) // This means hoursWorked should be the hours for ONE pay period. annualGrossPay = payRateInput * hoursWorked * payPeriodsPerYear; break; case "Weekly": annualGrossPay = payRateInput * 52; break; case "Bi-Weekly": annualGrossPay = payRateInput * 26; break; case "Semi-Monthly": annualGrossPay = payRateInput * 24; break; case "Monthly": annualGrossPay = payRateInput * 12; break; case "Annual Salary": annualGrossPay = payRateInput; break; default: document.getElementById("result").innerHTML = "Invalid Pay Rate Type selected."; return; } var grossPayPerPeriod = annualGrossPay / payPeriodsPerYear; var totalPreTaxDeductions = preTaxDeductions + (grossPayPerPeriod * (retirementContribution / 100)); var taxableIncome = grossPayPerPeriod – totalPreTaxDeductions; if (taxableIncome < 0) taxableIncome = 0; var socialSecurityTaxRate = 0.062; var medicareTaxRate = 0.0145; var socialSecurityTax = taxableIncome * socialSecurityTaxRate; var medicareTax = taxableIncome * medicareTaxRate; var federalIncomeTax = taxableIncome * (federalTaxRate / 100); var stateIncomeTax = taxableIncome * (stateTaxRate / 100); var totalTaxes = socialSecurityTax + medicareTax + federalIncomeTax + stateIncomeTax; var netPay = grossPayPerPeriod – totalPreTaxDeductions – totalTaxes – postTaxDeductions; var formattedGrossPay = grossPayPerPeriod.toFixed(2); var formattedPreTaxDeductions = totalPreTaxDeductions.toFixed(2); var formattedTaxableIncome = taxableIncome.toFixed(2); var formattedSocialSecurityTax = socialSecurityTax.toFixed(2); var formattedMedicareTax = medicareTax.toFixed(2); var formattedFederalIncomeTax = federalIncomeTax.toFixed(2); var formattedStateIncomeTax = stateIncomeTax.toFixed(2); var formattedTotalTaxes = totalTaxes.toFixed(2); var formattedPostTaxDeductions = postTaxDeductions.toFixed(2); var formattedNetPay = netPay.toFixed(2); var resultDiv = document.getElementById("result"); resultDiv.innerHTML = `

Your Paycheck Summary (Per Pay Period)

Gross Pay: $${formattedGrossPay} Total Pre-Tax Deductions: $${formattedPreTaxDeductions} Taxable Income: $${formattedTaxableIncome}

Taxes Withheld:

  • Social Security Tax: $${formattedSocialSecurityTax}
  • Medicare Tax: $${formattedMedicareTax}
  • Federal Income Tax: $${formattedFederalIncomeTax}
  • State Income Tax: $${formattedStateIncomeTax}
Total Taxes: $${formattedTotalTaxes} Post-Tax Deductions: $${formattedPostTaxDeductions} Net Pay: $${formattedNetPay} `; } function toggleHoursWorked() { var payRateType = document.getElementById("payRateType").value; var hoursWorkedDiv = document.getElementById("hoursWorkedDiv"); if (payRateType === "Hourly") { hoursWorkedDiv.style.display = "block"; } else { hoursWorkedDiv.style.display = "none"; document.getElementById("hoursWorked").value = ""; } } // Initial call to set correct visibility on page load toggleHoursWorked();

Understanding Your Paycheck: A Comprehensive Guide

For many, the arrival of a paycheck is a welcome event, but understanding how that final "net pay" figure is reached can often feel like solving a complex puzzle. Your paycheck is more than just your hourly wage or annual salary; it's a detailed breakdown of your earnings, deductions, and taxes. This guide will walk you through the essential components of your paycheck and how to calculate them.

1. Gross Pay: Your Total Earnings Before Deductions

Gross pay is the total amount of money you earn before any deductions or taxes are taken out. This is your raw income based on your pay rate and hours worked or your salary.

  • For Hourly Employees: Gross Pay = Hourly Rate × Hours Worked per Pay Period.
  • For Salaried Employees: Gross Pay = Annual Salary / Number of Pay Periods per Year. (e.g., if your annual salary is $60,000 and you're paid bi-weekly, your gross pay per period is $60,000 / 26 = $2,307.69).

Example: Let's say you earn $25 per hour and work 80 hours in a bi-weekly pay period. Your gross pay would be $25/hour × 80 hours = $2,000.

2. Pre-Tax Deductions: Reducing Your Taxable Income

Pre-tax deductions are amounts taken from your gross pay before taxes are calculated. These deductions reduce your taxable income, meaning you pay less in taxes. Common pre-tax deductions include:

  • Health, dental, and vision insurance premiums (employee share)
  • Contributions to retirement accounts like 401(k), 403(b), or traditional IRAs
  • Contributions to Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs)

Example: From your $2,000 gross pay, you contribute $100 per period to health insurance and 5% to your 401(k). Your 401(k) contribution is 5% of $2,000 = $100. Your total pre-tax deductions are $100 (health) + $100 (401k) = $200.

3. Taxable Income: The Amount Taxes Are Based On

Your taxable income is your gross pay minus your total pre-tax deductions. This is the amount on which your income taxes (federal and state) and FICA taxes are calculated.

Taxable Income = Gross Pay – Total Pre-Tax Deductions

Example: With a gross pay of $2,000 and $200 in pre-tax deductions, your taxable income is $2,000 – $200 = $1,800.

4. Taxes Withheld: Mandatory Contributions

Several types of taxes are typically withheld from your paycheck:

  • Federal Income Tax: This is based on your W-4 form, filing status, and income level. The exact percentage varies significantly. For simplicity in our calculator, we use a user-defined percentage.
  • State Income Tax: Many states also levy an income tax. Like federal tax, the amount depends on your state's tax laws and your income. Some states have no state income tax.
  • FICA Taxes (Social Security and Medicare): These are federal taxes that fund Social Security and Medicare programs.
    • Social Security: 6.2% of your taxable income, up to an annual wage base limit (e.g., $168,600 for 2024).
    • Medicare: 1.45% of all your taxable income, with no wage base limit.
  • Local Income Tax: Some cities or counties may also have their own income taxes.

Example: From your $1,800 taxable income:

  • Social Security Tax: $1,800 × 6.2% = $111.60
  • Medicare Tax: $1,800 × 1.45% = $26.10
  • Assuming a 15% Federal Income Tax withholding: $1,800 × 15% = $270
  • Assuming a 5% State Income Tax withholding: $1,800 × 5% = $90
  • Total Taxes: $111.60 + $26.10 + $270 + $90 = $497.70

5. Post-Tax Deductions: After Taxes Are Calculated

Post-tax deductions are taken from your pay after all taxes have been calculated and withheld. These do not reduce your taxable income. Examples include:

  • Roth 401(k) or Roth IRA contributions
  • Life insurance premiums
  • Disability insurance premiums
  • Union dues
  • Wage garnishments

Example: You have $20 in post-tax deductions for union dues.

6. Net Pay: Your Take-Home Pay

Net pay, also known as take-home pay, is the amount of money you actually receive after all pre-tax deductions, taxes, and post-tax deductions have been subtracted from your gross pay.

Net Pay = Gross Pay – Total Pre-Tax Deductions – Total Taxes – Total Post-Tax Deductions

Example: Using all our examples:

  • Gross Pay: $2,000
  • Total Pre-Tax Deductions: $200
  • Total Taxes: $497.70
  • Post-Tax Deductions: $20
  • Net Pay: $2,000 – $200 – $497.70 – $20 = $1,282.30

Understanding these components empowers you to review your pay stubs, plan your budget more effectively, and ensure that your deductions and withholdings are accurate. Use the calculator above to estimate your own paycheck based on your specific earnings and deductions!

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