Free Paycheck Calculator
Calculate your take-home pay after federal, state, and FICA taxes. See exactly how much you'll earn with our free paycheck calculator.
Paycheck Calculator
Calculate your take-home pay after taxes and deductions
Income
Deductions
Pre-tax
Pre-tax
Pre-tax
Paycheck Breakdown
Annual Summary
📚 Learn More About Paychecks & Taxes
💵 Gross vs Net Pay
Your total earnings before any deductions (salary or hourly rate × hours).
What you actually receive after taxes and deductions. Usually 70-80% of gross pay.
🏛️ Tax Breakdown
- Federal Income Tax: 10-37% based on income brackets
- State Income Tax: 0-13% (varies by state)
- FICA (Social Security): 6.2% up to $168,600
- Medicare: 1.45% (+ 0.9% if income >$200K)
📋 Understanding W-4
Your W-4 form tells your employer how much to withhold. More allowances = less withheld = bigger paychecks but potential tax bill.
Pro tip: Adjust W-4 if you consistently owe taxes or get large refunds. Aim for $0 owed/refunded.
💰 Pre-tax Deductions
Pre-tax deductions reduce your taxable income, lowering your tax bill. Common examples:
- 401(k) contributions (up to $23,000/year)
- HSA contributions (up to $4,150/$8,300)
- FSA contributions (up to $3,200)
- Health insurance premiums
⚠️ Common Mistakes
- Not updating W-4 after life changes (marriage, kids)
- Claiming too many allowances (owing taxes)
- Not taking advantage of pre-tax deductions
- Forgetting about state taxes when relocating
- Confusing gross pay with take-home pay
✅ Best Practices
- Review paycheck stub for accuracy
- Maximize pre-tax deductions (401k, HSA)
- Update W-4 when life circumstances change
- Save 20-30% of gross income
- Track year-to-date earnings for tax planning
- Set up direct deposit for faster access
How to Use This Paycheck Calculator
Enter Pay Info
Input your gross pay (salary or hourly rate) and select your pay frequency (weekly, bi-weekly, monthly).
Add Tax Details
Choose your state, filing status, and W-4 allowances to calculate accurate tax withholding.
Include Deductions
Add pre-tax (401k, HSA) and after-tax deductions to see your exact take-home pay.
Frequently Asked Questions
Why is my take-home pay less than my salary?
Your paycheck is reduced by federal income tax (10-37%), state income tax (0-13%), FICA/Social Security (6.2%), Medicare (1.45%), and any deductions like 401(k) or health insurance. On average, expect take-home pay to be 70-80% of gross salary. For example, a $60,000 salary typically results in $42,000-48,000 take-home pay annually.
What is FICA and why is it taken from my paycheck?
FICA (Federal Insurance Contributions Act) funds Social Security and Medicare. You pay 6.2% for Social Security (capped at $168,600 income) and 1.45% for Medicare (no cap). Your employer matches these amounts. If you earn over $200,000, you pay an additional 0.9% Medicare tax. These taxes fund your future retirement and healthcare benefits.
How can I increase my take-home pay?
Increase take-home pay by: 1) Adjusting W-4 allowances (but be careful not to owe taxes), 2) Maximizing pre-tax deductions like 401(k) and HSA (lowers taxable income), 3) Moving to a state with no income tax, 4) Negotiating a raise, or 5) Reducing voluntary deductions. Remember, some methods (like reducing 401k) may hurt long-term financial health.
Should I claim 0 or 1 on my W-4?
The 2020+ W-4 no longer uses allowances (0, 1, 2). Instead, you claim dependents and adjust withholding. If using an old W-4: claim 0 for maximum withholding (bigger refund, smaller paychecks) or 1 for less withholding (smaller refund, bigger paychecks). Use the IRS withholding calculator to find the right amount and avoid owing taxes or getting large refunds.