Calculate your take-home pay after federal and state taxes
Income Details
Annual Take-Home Pay (Net)
-
- per paycheck
Gross Income
-
Taxable Income
-
Total Federal Tax
-
Total State Tax
-
Deduction Breakdown
📚 Understanding Your Paycheck
Your paycheck is calculated by subtracting various deductions from your gross pay. Understanding these deductions helps you make informed financial decisions.
Federal Income Tax — Based on progressive tax brackets. Higher income portions are taxed at higher rates, not your entire income.
FICA (Social Security + Medicare) — 6.2% for Social Security (up to $168,600) + 1.45% for Medicare (no cap). Your employer matches this.
State Income Tax — Varies from 0% (9 states) to 13.3% (California). Some states use flat rates, others use progressive brackets.
Pre-tax Deductions — 401(k), HSA, health insurance, FSA. These reduce your taxable income, lowering your tax bill.
Post-tax Deductions — Roth 401(k), Roth IRA, garnishments, charitable contributions. These don't affect your tax bill.
Frequently Asked Questions
How is federal income tax calculated?▸
Using progressive brackets. For 2024 single filers: 10% up to $11,600, 12% up to $47,150, 22% up to $100,525, 24% up to $191,950, 32% up to $243,725, 35% up to $609,350, 37% above. Each bracket only applies to income within that range.
What is FICA tax?▸
Social Security (6.2% up to $168,600) + Medicare (1.45% all income) = 7.65%. Self-employed pay 15.3%. Additional 0.9% Medicare on income over $200,000 (single).
Which states have no income tax?▸
Alaska, Florida, Nevada, New Hampshire (dividends only), South Dakota, Tennessee, Texas, Washington, Wyoming. They often compensate with higher sales or property taxes.
What's the difference between gross and net pay?▸
Gross = total earnings before deductions. Net = take-home pay after taxes and deductions. Net is typically 65-80% of gross depending on state, filing status, and benefits.
How do tax brackets work?▸
Progressive system: each dollar is taxed at its bracket's rate. Earning $60,000 as single: first $11,600 at 10%, next $35,550 at 12%, remaining at 22%. Effective rate ~13%, not 22%.
How do pre-tax deductions work?▸
401(k), health insurance, HSA reduce taxable income. $80,000 salary with $10,000 401(k) = taxed on $70,000. Lowers current taxes while building retirement savings.
When should I update my W-4?▸
After major life changes (marriage, child, home purchase, income change) and annually. Large refunds = interest-free loan to government; owing = potential penalties.
What is the 2024 standard deduction?▸
$14,600 (single), $29,200 (married filing jointly), $21,900 (head of household). Reduces taxable income dollar-for-dollar. ~90% of taxpayers take the standard deduction.