Paycheck Calculator

Understand Your Take-Home Pay

This Paycheck Calculator provides a simplified estimate of your net (take-home) pay after common deductions. By entering your gross pay, it subtracts estimated federal, state, and payroll taxes (Social Security, Medicare) to show you your approximate net income. It's a useful tool for budgeting and understanding where your money goes.

The Formulas Explained

This calculator uses simplified, flat tax rates for demonstration purposes.

• Gross Pay: Your total earnings before any deductions.
• Taxes: Includes Federal, State (at a flat rate), Social Security (6.2%), and Medicare (1.45%).
• Net Pay: Gross Pay - All Taxes

How to Use the Calculator

1. Gross Pay: Enter your total pay for the period.
2. Pay Period: Select how often you are paid (e.g., Weekly, Bi-weekly, Monthly).
3. Calculate: The tool will provide a breakdown of your estimated deductions and your final net pay.

Real-World Example

You earn a $1,500 gross paycheck every two weeks.

• Gross Pay: $1,500
• Federal Tax (est. 15%): $225
• State Tax (est. 5%): $75
• Social Security (6.2%): $93
• Medicare (1.45%): $21.75
• Total Deductions: $414.75
• Estimated Net Pay: $1,500 - $414.75 = $1,085.25

Frequently Asked Questions (FAQ)

• Why is this only an estimate? Actual income tax withholding is very complex and depends on your W-4 filing status, allowances, pre-tax deductions (like 401k or health insurance), and progressive tax brackets. This calculator uses flat rates for simplicity and is for educational purposes only.
• What are Social Security and Medicare taxes? These are federal payroll taxes, also known as FICA taxes. They fund the Social Security and Medicare programs.
• How can I find my actual take-home pay? The most accurate way is to look at your most recent pay stub, which will show all your specific earnings and deductions.