Knowing your net income—the "take-home" amount—is critical for personal budgeting and financial planning. While your gross salary represents your total compensation, the actual amount deposited into your bank account is affected by several mandatory and voluntary factors.
Key Components of the Calculation
Gross Annual Salary: Your total pay before any taxes or deductions are removed.
Federal Income Tax: This tool uses simplified 2024 IRS brackets and the standard deduction ($14,600 for single, $29,200 for married) to estimate your federal liability.
FICA Tax: This consists of Social Security (6.2%) and Medicare (1.45%), totaling 7.65% for most employees.
Pre-tax Deductions: Contributions to 401(k) plans or health insurance premiums that reduce your taxable income.
Example Pay Scenarios
Salary
Frequency
Estimated Net Pay
$45,000
Bi-Weekly
~$1,440.00
$75,000
Monthly
~$4,950.00
$120,000
Bi-Weekly
~$3,480.00
Note: This calculator provides an estimate only. Actual take-home pay varies by state tax rates, specific local taxes, and additional employer-specific deductions.
function calculateEstimatePay() {
var salary = parseFloat(document.getElementById('annualSalary').value);
var periods = parseFloat(document.getElementById('payPeriod').value);
var status = document.getElementById('filingStatus').value;
var pretaxMonthly = parseFloat(document.getElementById('pretax').value) || 0;
if (isNaN(salary) || salary <= 0) {
alert("Please enter a valid salary amount.");
return;
}
// Constants (Simplified 2024 Estimates)
var standardDeduction = (status === 'single') ? 14600 : 29200;
var annualPretax = pretaxMonthly * 12;
var taxableIncome = salary – standardDeduction – annualPretax;
if (taxableIncome 609350) fedTax += (taxableIncome – 609350) * 0.37 + 174238;
else if (taxableIncome > 243725) fedTax += (taxableIncome – 243725) * 0.35 + 46294;
else if (taxableIncome > 191950) fedTax += (taxableIncome – 191950) * 0.32 + 29726;
else if (taxableIncome > 100525) fedTax += (taxableIncome – 100525) * 0.24 + 16290;
else if (taxableIncome > 47150) fedTax += (taxableIncome – 47150) * 0.22 + 5147;
else if (taxableIncome > 11600) fedTax += (taxableIncome – 11600) * 0.12 + 1160;
else fedTax += taxableIncome * 0.10;
} else {
// Married Joint
if (taxableIncome > 731200) fedTax += (taxableIncome – 731200) * 0.37 + 183647;
else if (taxableIncome > 487450) fedTax += (taxableIncome – 487450) * 0.35 + 98334;
else if (taxableIncome > 383900) fedTax += (taxableIncome – 383900) * 0.32 + 65200;
else if (taxableIncome > 201050) fedTax += (taxableIncome – 201050) * 0.24 + 32580;
else if (taxableIncome > 94300) fedTax += (taxableIncome – 94300) * 0.22 + 10294;
else if (taxableIncome > 23200) fedTax += (taxableIncome – 23200) * 0.12 + 2320;
else fedTax += taxableIncome * 0.10;
}
var totalAnnualNet = salary – ficaAnnual – fedTax – annualPretax;
var payPeriodNet = totalAnnualNet / periods;
var payPeriodGross = salary / periods;
var payPeriodTax = fedTax / periods;
var payPeriodFica = ficaAnnual / periods;
// Format results
document.getElementById('netPayDisplay').innerText = '$' + payPeriodNet.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('grossDisplay').innerText = '$' + payPeriodGross.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('taxDisplay').innerText = '$' + payPeriodTax.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('ficaDisplay').innerText = '$' + payPeriodFica.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
var freqText = "per pay period";
if (periods == 12) freqText = "per month";
if (periods == 26) freqText = "every two weeks";
if (periods == 52) freqText = "per week";
document.getElementById('periodText').innerText = freqText;
document.getElementById('results').style.display = 'block';
}