Paycheck Calculator
Calculate your take-home pay after taxes, retirement contributions, and other deductions.
Important Notice
These calculators are for educational and informational purposes only. Results are estimates based on the information you provide and should not be considered financial, tax, or investment advice. Your actual results may vary. For personalized guidance, please consult a qualified financial advisor, tax professional, or other appropriate expert.
People Also Ask
How is my paycheck calculated?
Your paycheck starts with gross pay, then subtracts federal tax, state tax, FICA (Social Security and Medicare), and any pre-tax deductions like 401(k) contributions and health insurance.
What is the difference between gross and net pay?
Gross pay is your total earnings before deductions. Net pay (take-home pay) is what you receive after all taxes and deductions. Net is typically 60-75% of gross depending on tax bracket.
How much should I contribute to my 401(k)?
Employer matches represent additional compensation - contributing enough to receive the full match is common advice. Beyond that, many financial guidelines suggest 10-15% of income. The 2024 limit is $23,000 ($30,500 if 50+).
Why is my paycheck different each time?
Variations can come from: different hours worked, overtime, bonuses, commission, benefit changes, tax withholding adjustments, or reaching limits on Social Security tax.
How can I increase my take-home pay?
Increase pre-tax deductions (401k, HSA) to reduce taxable income, adjust W-4 withholding if over-withholding, or reduce post-tax deductions. Be careful not to under-withhold taxes.
What are pre-tax vs post-tax deductions?
Pre-tax deductions (401k, health insurance) reduce taxable income, saving on taxes. Post-tax deductions (Roth 401k, life insurance) come after taxes. Pre-tax lowers current taxes; post-tax provides tax-free growth.