Take-Home Pay Calculator
Estimate your federal income tax, Social Security, Medicare, state tax, retirement contributions, and take-home pay.
Your Take-Home Pay
Take-Home Pay Breakdown
| Gross Annual Pay | $0 |
| Pre-Tax Retirement Contribution | $0 |
| Other Pre-Tax Deductions | $0 |
| Federal Income Tax | $0 |
| Social Security | $0 |
| Medicare | $0 |
| State Income Tax | $0 |
| Estimated Annual Take-Home | $0 |
|---|
Effective Tax Rate
Estimated Paycheck Amounts
How the Take-Home Pay Calculator Works
A take-home pay calculator estimates how much of your gross income remains after federal income tax, Social Security, Medicare, state income tax and selected pre-tax deductions. It can help you understand your estimated monthly and annual spending power.
If you are paid hourly, the calculator converts your hourly rate and weekly hours into an estimated annual gross income. If you receive a fixed salary, enter your annual salary directly.
What Is Take-Home Pay?
Take-home pay is the amount of money remaining after taxes and deductions are taken out of gross earnings. It is also commonly called net pay or net salary.
What Is Gross Pay?
Gross pay is your income before taxes, retirement contributions, insurance premiums and other deductions. An annual salary is a form of gross compensation before these amounts are removed.
What Taxes Are Included?
- Federal income tax
- Social Security tax
- Medicare tax
- Estimated state income tax
What Pre-Tax Deductions Are Included?
This calculator allows you to estimate a traditional 401(k) or retirement contribution and other annual pre-tax deductions such as eligible health insurance, HSA or FSA contributions.
Why Your Take-Home Pay Matters
Gross salary does not tell you exactly how much money is available for everyday spending. Understanding estimated net pay can help with budgeting, saving, debt repayment, housing expenses, furniture, renovations and other major purchases.
Frequently Asked Questions
How is take-home pay calculated?
Take-home pay is estimated by starting with gross income and subtracting applicable federal income tax, Social Security, Medicare, state income tax and selected deductions.
Does this calculator work for hourly employees?
Yes. Select Hourly and enter your hourly wage and average weekly hours. The calculator estimates annual gross income using 52 weeks.
Does this calculator include federal income tax?
Yes. The calculator uses an estimated progressive federal income tax calculation based on the selected filing status.
Does this calculator include Social Security and Medicare?
Yes. Social Security and Medicare are estimated separately as part of FICA payroll taxes.
Does it calculate state income tax?
Yes. You enter an estimated state income tax rate. State and local tax systems differ significantly, so the result should be treated as an estimate.
Does a 401(k) contribution reduce take-home pay?
Yes. A traditional pre-tax retirement contribution reduces the amount of money reaching your paycheck, but it can also reduce taxable income for federal income tax purposes.
Why is my actual paycheck different?
Actual paychecks can differ because of W-4 withholding elections, local taxes, benefit premiums, tax credits, additional withholding, retirement plan rules and other payroll-specific factors.