Paycheck Calculator – Estimate Your Take-Home Pay
Use this paycheck calculator to quickly estimate your net take-home pay after federal tax, state tax, FICA, and pre-tax deductions. Supports both annual salary and hourly wage with all common pay frequencies.
How to Use This Paycheck Calculator
Follow these simple steps to estimate your net take-home pay:
- Choose whether you are paid an Annual Salary or an Hourly Wage.
- Enter your gross income amount. For hourly, also enter hours worked per week.
- Select your pay frequency (weekly, biweekly, monthly, or annual).
- Enter your estimated federal tax rate, state tax rate, and FICA rate (default 7.65%).
- Enter any pre-tax deductions such as 401(k) contributions or health insurance premiums.
- Click "Calculate Take-Home Pay" to see your detailed paycheck breakdown.
How It Works – The Paycheck Formula
Your net (take-home) pay is calculated by subtracting all mandatory and voluntary deductions from your gross pay:
Where each tax component is computed as:
- Federal Tax = Gross Pay × (Federal Tax Rate ÷ 100)
- State Tax = Gross Pay × (State Tax Rate ÷ 100)
- FICA = Gross Pay × 7.65% (Social Security 6.2% + Medicare 1.45%)
Examples
Annual salary: $75,000 | Federal: 12% | State: 5% | FICA: 7.65% | Pre-tax deductions: $500/month
Gross per period = $75,000 ÷ 26 = $2,884.62
Federal = $2,884.62 × 12% = $346.15
State = $2,884.62 × 5% = $144.23
FICA = $2,884.62 × 7.65% = $220.67
Deductions per period = $500 × 12 ÷ 26 = $230.77
Net Pay = $2,884.62 − $346.15 − $144.23 − $220.67 − $230.77 = $1,942.80
Weekly gross = $35 × 40 = $1,400 | Annual = $72,800 | Federal: 12% | State: 5% | FICA: 7.65% | No deductions
Net per week = $1,400 − $168 − $70 − $107.10 = $1,054.90
Effective tax rate = ($168 + $70 + $107.10) ÷ $1,400 = 24.65%
Frequently Asked Questions
What is FICA?
FICA stands for the Federal Insurance Contributions Act. It is a U.S. federal payroll tax that funds Social Security and Medicare. The standard FICA rate is 7.65% of gross pay — comprising 6.2% for Social Security (up to the annual wage base limit) and 1.45% for Medicare (with no income limit). Employers also pay 7.65%, but this calculator focuses on the employee portion.
How do I calculate my take-home pay?
To calculate take-home pay, start with your gross pay and subtract federal income tax, state income tax, FICA (Social Security + Medicare), and any pre-tax deductions like 401(k) contributions or health insurance premiums. Our paycheck calculator does this automatically — just enter your income and deduction details.
What is the effective tax rate?
The effective tax rate is the total percentage of your gross income that goes to taxes. It is calculated by dividing total taxes paid by gross pay. For example, if you earn $100,000 and pay $24,650 in combined federal, state, and FICA taxes, your effective tax rate is 24.65%. This is different from your marginal tax rate, which is the rate on your last dollar earned.
Are pre-tax deductions worth it?
Yes, pre-tax deductions reduce your taxable income, which means you pay less in taxes. Common pre-tax deductions include 401(k) retirement contributions, health insurance premiums, HSA contributions, and commuter benefits. While they reduce your immediate take-home pay, they often provide long-term financial benefits such as retirement savings and tax-deferred growth.