Understanding the difference between your gross salary and your actual take-home pay is vital for budgeting and financial planning. This calculator estimates the amount of money that will actually land in your bank account after mandatory taxes and voluntary deductions are removed.
Core Components of Your Paycheck
Gross Pay: This is the total amount earned before any taxes or deductions. If you are salaried, it's your annual salary divided by pay periods. For hourly workers, it's hourly rate times hours worked.
FICA Taxes: Federal Insurance Contributions Act tax includes Social Security (6.2%) and Medicare (1.45%). Most employees pay a flat 7.65% on their gross income up to certain limits.
Federal Income Tax: This is a progressive tax. The more you earn, the higher the percentage you pay on the incremental dollars.
Pre-Tax Deductions: Contributions made to 401(k) plans or health insurance premiums that reduce your taxable income.
Post-Tax Deductions: Items like life insurance or certain retirement accounts (Roth IRA) that are taken out after taxes have been calculated.
Example Calculation
If you earn an annual salary of $60,000 and are paid bi-weekly (26 times a year), your gross pay per period is $2,307.69. Here is how the breakdown might look for a single filer with standard deductions:
Description
Calculation
Amount
Gross Pay Period
$60,000 / 26
$2,307.69
FICA (7.65%)
$2,307.69 * 0.0765
$176.54
Estimated Fed Tax
Approx. 12% effective
$276.92
Estimated Net Pay
Remaining
$1,854.23
Why Your Net Pay Might Vary
This calculator provides an estimate based on standard 2024 tax brackets and simplified FICA calculations. Your actual paycheck may vary based on local state income taxes, specific W-4 withholdings, and changes in health insurance premiums. Always review your official pay stub provided by your employer for the most accurate details.
function calculatePaycheck() {
// Inputs
var grossInput = parseFloat(document.getElementById('grossPay').value);
var frequency = parseFloat(document.getElementById('payFrequency').value);
var filingStatus = document.getElementById('filingStatus').value;
var preTaxMonthly = parseFloat(document.getElementById('preTax').value) || 0;
var postTaxMonthly = parseFloat(document.getElementById('postTax').value) || 0;
if (isNaN(grossInput) || grossInput <= 0) {
alert("Please enter a valid gross pay amount.");
return;
}
// Convert all to Annual for initial tax logic
var annualGross = (frequency === 1) ? grossInput : (grossInput * (frequency === 12 ? 1 : 1));
// If user enters 50000 and selects Annual, it's 50k.
// If user enters 5000 and selects Monthly, we treat 5000 as the per-period gross.
var grossPerPeriod = (frequency === 1) ? (grossInput / 26) : grossInput; // Defaulting to bi-weekly display if annual is chosen
if (frequency !== 1) {
grossPerPeriod = grossInput;
annualGross = grossInput * frequency;
} else {
grossPerPeriod = grossInput / 26; // Show bi-weekly as a standard result
annualGross = grossInput;
}
// FICA (Social Security 6.2% + Medicare 1.45% = 7.65%)
// Note: Social Security has a cap, but for this web tool we use standard 7.65%
var annualFica = annualGross * 0.0765;
// Simplified Federal Tax Brackets (2024 Estimate)
var taxableIncome = annualGross – (filingStatus === 'single' ? 14600 : 29200); // Standard Deduction
if (taxableIncome 609350) fedTax = 174238 + (taxableIncome – 609350) * 0.37;
else if (taxableIncome > 243725) fedTax = 46643 + (taxableIncome – 243725) * 0.35;
else if (taxableIncome > 191950) fedTax = 36607 + (taxableIncome – 191950) * 0.32;
else if (taxableIncome > 100525) fedTax = 16290 + (taxableIncome – 100525) * 0.24;
else if (taxableIncome > 47150) fedTax = 5444 + (taxableIncome – 47150) * 0.22;
else if (taxableIncome > 11600) fedTax = 1160 + (taxableIncome – 11600) * 0.12;
else fedTax = taxableIncome * 0.10;
} else {
// Married Joint
if (taxableIncome > 731200) fedTax = 186362 + (taxableIncome – 731200) * 0.37;
else if (taxableIncome > 487450) fedTax = 101050 + (taxableIncome – 487450) * 0.35;
else if (taxableIncome > 383900) fedTax = 67977 + (taxableIncome – 383900) * 0.32;
else if (taxableIncome > 201050) fedTax = 34077 + (taxableIncome – 201050) * 0.24;
else if (taxableIncome > 94300) fedTax = 10889 + (taxableIncome – 94300) * 0.22;
else if (taxableIncome > 23200) fedTax = 2320 + (taxableIncome – 23200) * 0.12;
else fedTax = taxableIncome * 0.10;
}
// Convert annual taxes/deductions to per-period
// Monthly deductions to annual
var annualPreTax = preTaxMonthly * 12;
var annualPostTax = postTaxMonthly * 12;
var actualPayFreq = (frequency === 1) ? 26 : frequency;
var periodFica = annualFica / actualPayFreq;
var periodFedTax = fedTax / actualPayFreq;
var periodPreTax = annualPreTax / actualPayFreq;
var periodPostTax = annualPostTax / actualPayFreq;
var netPay = grossPerPeriod – periodFica – periodFedTax – periodPreTax – periodPostTax;
if (netPay < 0) netPay = 0;
// Display
document.getElementById('resGrossPeriod').innerText = "$" + grossPerPeriod.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resFica').innerText = "-$" + periodFica.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resFedTax').innerText = "-$" + periodFedTax.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resDeductions').innerText = "-$" + (periodPreTax + periodPostTax).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resNetPay').innerText = "$" + netPay.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resultArea').style.display = "block";
}