How to Use This Payroll Calculator
Enter your annual salary, select your pay frequency and filing status, and adjust other withholding details. The calculator breaks down each paycheck into gross pay, taxes, and deductions to show your take-home pay. Click "Show Annual Summary" to see yearly totals.
Understanding Your Paycheck Deductions
Every paycheck includes mandatory deductions. Federal income tax is based on your salary, filing status, and allowances. Social Security tax is 6.2% of wages up to $168,600 (2024). Medicare tax is 1.45% on all wages, plus an additional 0.9% on earnings above $200,000.
Pre-Tax Deductions
Pre-tax deductions like 401(k) contributions, health insurance premiums, and HSA contributions reduce your taxable income. This means you pay less in federal and state taxes. For example, contributing $200 per paycheck to a 401(k) doesn't reduce your take-home pay by the full $200 because of the tax savings.
W-4 Allowances
Federal allowances on your W-4 form affect how much federal tax is withheld from each paycheck. Claiming more allowances means less withholding (larger paychecks but potentially a tax bill at year-end). Claiming fewer means more withholding (smaller paychecks but likely a refund). Most single filers claim 1-2 allowances.
Disclaimer
This calculator provides estimates for educational purposes. Actual paycheck amounts may differ due to local taxes, specific benefit plans, garnishments, or other employer-specific factors. Consult your HR department or a tax professional for exact figures.