Paycheck Calculator
Estimate your take-home pay after federal taxes, state taxes, and FICA deductions.
Frequently Asked Questions
What is the difference between gross pay and net pay?▼
Gross pay is your total earnings before any deductions — including federal income tax, state income tax, Social Security, Medicare, and retirement contributions. Net pay (take-home pay) is what remains after all those deductions are subtracted. For most workers, net pay is 65–80% of gross pay depending on tax rate and deductions.
How is federal income tax calculated on a paycheck?▼
Federal income tax is calculated using a progressive bracket system. For 2024, single filers pay 10% on the first $11,925, 12% on income up to $48,475, 22% up to $103,350, and higher rates beyond that. Married filers have wider brackets. Your employer withholds a prorated share of your estimated annual tax each pay period.
What is FICA and how much is it?▼
FICA (Federal Insurance Contributions Act) covers Social Security and Medicare. Employees pay 6.2% of gross wages toward Social Security (up to the annual wage base of $176,100 in 2024) and 1.45% toward Medicare with no earnings cap. Together, FICA takes 7.65% from your paycheck, with your employer matching that amount.
Does a 401(k) contribution reduce my taxes?▼
Yes. Traditional 401(k) contributions are made pre-tax, which means they reduce your federal taxable income dollar-for-dollar. If you earn $70,000 and contribute 6% ($4,200), your federal tax is calculated on $65,800 instead. This lowers your federal and most state income taxes, though Social Security and Medicare still apply to the full gross.
What is the difference between biweekly and semimonthly pay?▼
Biweekly pay means you receive a paycheck every two weeks — 26 paychecks per year. Semimonthly pay means twice a month on fixed dates (e.g., the 1st and 15th) — 24 paychecks per year. Biweekly results in two 'three-paycheck months' each year. The annual gross is the same; only the per-period amount differs.
How accurate is this paycheck calculator?▼
This calculator uses 2024 federal tax brackets and state marginal rates. It provides a close estimate for most salaried and hourly employees. However, it does not account for pre-tax health insurance premiums, FSA contributions, local city taxes, additional Medicare tax (0.9% for high earners), or itemized deductions. For exact withholding, refer to your pay stub or consult a tax professional.