Estimate your actual net income after taxes and deductions.
Weekly
Bi-weekly (Every 2 weeks)
Semi-monthly (Twice a month)
Monthly
Gross Pay:$0.00
Federal Income Tax:-$0.00
State Income Tax:-$0.00
Social Security (6.2%):-$0.00
Medicare (1.45%):-$0.00
Other Deductions:-$0.00
Net Take-Home Pay:$0.00
How to Calculate Your Net Paycheck
Understanding your paycheck involves more than just looking at your hourly rate or annual salary. Your Gross Pay is the total amount you earn before any withholding. However, the amount that actually lands in your bank account—your Net Pay—is affected by several mandatory and voluntary factors.
Key Components of Paycheck Calculation
FICA Taxes: This consists of Social Security (6.2%) and Medicare (1.45%). Almost all employees must pay these taxes on their earned income.
Federal Income Tax: This is based on your tax bracket, which is determined by your total annual income and filing status (Single, Married, etc.).
State Income Tax: Depending on where you live, your state may take an additional percentage of your income. Some states, like Florida or Texas, have no state income tax.
Pre-tax Deductions: Contributions to a 401(k), 403(b), or Health Savings Account (HSA) are taken out before taxes are calculated, which can lower your taxable income.
Example Calculation
If you earn a gross pay of $2,500 bi-weekly:
FICA: $2,500 * 7.65% = $191.25
Federal Tax (est. 12%): $2,500 * 0.12 = $300.00
State Tax (est. 5%): $2,500 * 0.05 = $125.00
Total Deductions: $616.25
Net Pay: $2,500 – $616.25 = $1,883.75
Why Use a Paycheck Calculator?
Using a tool to calculate your paycheck helps with budgeting and financial planning. It allows you to see how a raise might affect your take-home pay or how increasing your 401(k) contribution might change your monthly cash flow. Always remember that withholding amounts can change based on the W-4 form you have on file with your employer.
function calculatePaycheck() {
var gross = parseFloat(document.getElementById('grossPay').value);
var fedRate = parseFloat(document.getElementById('fedTax').value) / 100 || 0;
var stateRate = parseFloat(document.getElementById('stateTax').value) / 100 || 0;
var preTax = parseFloat(document.getElementById('preTaxDeductions').value) || 0;
var postTax = parseFloat(document.getElementById('postTaxDeductions').value) || 0;
if (isNaN(gross) || gross <= 0) {
alert("Please enter a valid Gross Pay amount.");
return;
}
// Taxable income (Gross – Pre-tax deductions)
var taxableIncome = gross – preTax;
if (taxableIncome < 0) taxableIncome = 0;
// Taxes
var fedTaxAmount = taxableIncome * fedRate;
var stateTaxAmount = taxableIncome * stateRate;
// FICA (Social Security 6.2% and Medicare 1.45%)
// Note: FICA is usually calculated on Gross (before 401k) but after Section 125 (health insurance)
// For this calculator simplicity, we use gross.
var ssAmount = gross * 0.062;
var medAmount = gross * 0.0145;
// Total Deductions
var totalDeductions = fedTaxAmount + stateTaxAmount + ssAmount + medAmount + preTax + postTax;
// Net Pay
var netPay = gross – totalDeductions;
if (netPay < 0) netPay = 0;
// Update Display
document.getElementById('resGross').innerHTML = "$" + gross.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resFed').innerHTML = "-$" + fedTaxAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resState').innerHTML = "-$" + stateTaxAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resSS').innerHTML = "-$" + ssAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resMed').innerHTML = "-$" + medAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resDeduct').innerHTML = "-$" + (preTax + postTax).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resNet').innerHTML = "$" + netPay.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('paycheckResult').style.display = 'block';
}