Net Paycheck Calculator
Estimate your take-home pay after taxes and deductions.
Weekly (52 periods)
Bi-Weekly (26 periods)
Semi-Monthly (24 periods)
Monthly (12 periods)
Gross Pay (per period):
$0.00
Federal Tax (estimated):
-$0.00
State Tax (estimated):
-$0.00
FICA (SS + Medicare 7.65%):
-$0.00
Voluntary Deductions:
-$0.00
Net Take-Home Pay:
$0.00
How Your Net Paycheck is Calculated
Understanding your net paycheck is critical for budgeting. While your "Gross Salary" is the number on your offer letter, the "Net Pay" (also known as take-home pay) is what actually hits your bank account after mandatory and voluntary withholdings.
1. Gross Pay per Period
The first step is dividing your annual salary by the number of pay periods in a year. For example, if you earn $65,000 and are paid bi-weekly, your gross pay per check is $2,500 ($65,000 / 26).
2. Mandatory Tax Withholdings
- Federal Income Tax: This depends on your tax bracket, filing status, and allowances. This calculator uses a simplified percentage estimate.
- FICA (Social Security & Medicare): In the US, employees typically pay 6.2% for Social Security and 1.45% for Medicare, totaling 7.65% on most earnings.
- State Income Tax: This varies significantly by state, with some states (like Florida or Texas) having 0% tax and others reaching over 10%.
3. Deductions
Deductions can be Pre-tax (like 401k contributions or health insurance premiums) or Post-tax (like disability insurance or Roth contributions). Pre-tax deductions are beneficial because they reduce the amount of your income that is subject to federal taxes.
Real-Life Example
Let's say Jane earns $60,000 a year and gets paid monthly. Her gross monthly pay is $5,000. If her combined federal and state tax rate is 15% ($750) and her FICA is 7.65% ($382.50), and she contributes $300 to a health insurance plan, her calculation looks like this:
$5,000 (Gross) – $750 (Income Tax) – $382.50 (FICA) – $300 (Health) = $3,567.50 (Net)