This calculator helps you estimate your take-home pay as an hourly employee in Texas. While Texas is known for not having a state income tax, federal taxes and other deductions are still applied. Understanding these deductions is crucial for managing your finances effectively.
How Your Paycheck is Calculated:
Your gross pay is the total amount you earn before any deductions. It's calculated by multiplying your hourly wage by the number of hours you work.
Gross Pay = Hourly Wage × Hours Worked
However, your net pay (the amount you actually receive) is your gross pay minus various deductions:
Federal Income Tax: This is based on your W-4 form and the IRS tax brackets. The percentage entered is a simplified estimate; actual withholding can be complex.
Social Security Tax: A mandatory federal tax. For 2023 and 2024, the rate is 6.2% on earnings up to a certain limit ($160,200 in 2023, $168,600 in 2024). This calculator assumes you are below the limit.
Medicare Tax: Another mandatory federal tax that funds Medicare. The rate is 1.45% on all earnings.
Other Deductions: This can include health insurance premiums, retirement contributions (401k), union dues, etc. These are not included in this basic calculator but can significantly impact your take-home pay.
Why Texas is Different:
One of the main advantages of working in Texas is the absence of a state income tax. This means you don't have to worry about state-level taxes reducing your paycheck further, unlike residents of many other states. However, federal taxes are still applicable to all U.S. workers.
Using This Calculator:
1. Hourly Wage: Enter the amount you are paid per hour.
2. Hours Worked Per Week: Input the average number of hours you work in a typical week.
3. Pay Periods Per Year: This determines how often you get paid. Common examples are 52 for weekly, 26 for bi-weekly, and 12 for monthly. The calculator uses this to determine the amount per paycheck.
4. Federal Tax Withholding (%): This is an estimate based on your W-4. If you're unsure, a common starting point is 15%, but it's best to check your pay stubs or consult a tax professional.
5. Medicare & Social Security Withholding (%): These are standard federal rates.
Click "Calculate My Paycheck" to see an estimated net amount for each pay period. Remember, this is an estimate, and your actual paycheck may vary due to specific tax situations, additional voluntary deductions, or changes in tax laws.
function calculatePaycheck() {
var hourlyWage = parseFloat(document.getElementById("hourlyWage").value);
var hoursPerWeek = parseFloat(document.getElementById("hoursPerWeek").value);
var payPeriodsPerYear = parseFloat(document.getElementById("payPeriodsPerYear").value);
var fedTaxWithholdingPercent = parseFloat(document.getElementById("fedTaxWithholding").value);
var medicareWithholdingPercent = parseFloat(document.getElementById("medicareWithholding").value);
var socialSecurityWithholdingPercent = parseFloat(document.getElementById("socialSecurityWithholding").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = "Your Net Paycheck Amount will appear here."; // Reset message
// Input validation
if (isNaN(hourlyWage) || hourlyWage < 0 ||
isNaN(hoursPerWeek) || hoursPerWeek < 0 ||
isNaN(payPeriodsPerYear) || payPeriodsPerYear <= 0 ||
isNaN(fedTaxWithholdingPercent) || fedTaxWithholdingPercent 100 ||
isNaN(medicareWithholdingPercent) || medicareWithholdingPercent 100 ||
isNaN(socialSecurityWithholdingPercent) || socialSecurityWithholdingPercent 100) {
resultDiv.innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
var grossWeeklyPay = hourlyWage * hoursPerWeek;
var grossAnnualPay = grossWeeklyPay * (52 / payPeriodsPerYear) * payPeriodsPerYear; // Calculate annual pay based on pay periods
var grossPayPerPeriod = grossAnnualPay / payPeriodsPerYear;
// Calculate deductions
// Simplified federal tax calculation – actual withholding is more complex
var federalTaxAmount = grossPayPerPeriod * (fedTaxWithholdingPercent / 100);
var medicareAmount = grossPayPerPeriod * (medicareWithholdingPercent / 100);
var socialSecurityAmount = grossPayPerPeriod * (socialSecurityWithholdingPercent / 100);
// Total deductions
var totalDeductions = federalTaxAmount + medicareAmount + socialSecurityAmount;
// Net pay per period
var netPayPerPeriod = grossPayPerPeriod – totalDeductions;
// Format the result
var formattedNetPay = netPayPerPeriod.toLocaleString('en-US', { style: 'currency', currency: 'USD' });
resultDiv.innerHTML = "Estimated Net Paycheck: " + formattedNetPay + " (per period)";
}