Take Home Pay Calculator
$
Net Pay per Period$5,076.79
Federal Tax (Annual)$8,341.00
FICA (Annual)$5,737.50
Effective Tax Rate18.77%
Net Pay$60,921.48
Federal Tax$8,341.00
FICA$5,737.50
Your paycheck is smaller than your salary because federal income tax and FICA payroll taxes come out first. This take-home pay calculator applies the 2024 standard deduction and progressive federal brackets for your filing status, adds Social Security and Medicare withholding, and then divides the remainder across your pay schedule to show what actually lands in each check.
Formula
net = salary − federalTax(salary − deduction) − (SS + Medicare); perPeriod = net ÷ periods
- deduction
- 2024 standard deduction for your filing status
- federalTax
- Progressive 2024 bracket tax on taxable income
- SS
- Social Security = 6.2% of wages up to $168,600
- Medicare
- Medicare = 1.45% of all wages
- periods
- Pay periods per year: 52 weekly, 26 biweekly, 12 monthly
How it works
- Enter your annual salary, pick a pay frequency (weekly, biweekly, or monthly), and choose a filing status: single, married filing jointly, or head of household.
- The calculator subtracts the 2024 standard deduction for your status ($14,600 single, $29,200 married, $21,900 head of household) and applies the federal brackets to the remaining taxable income.
- It adds FICA: Social Security at 6.2% on wages up to the $168,600 cap plus Medicare at 1.45% on all wages, subtracts both federal tax and FICA from your salary, and splits the net across your pay periods.
Worked example
A single filer earning $75,000 a year, paid biweekly.
- Taxable income: 75,000 − 14,600 = $60,400; federal tax across the 10%, 12%, and 22% brackets = $8,341.
- FICA: Social Security 75,000 × 6.2% = $4,650 plus Medicare 75,000 × 1.45% = $1,087.50, totaling $5,737.50.
- Annual net: 75,000 − 8,341 − 5,737.50 = $60,921.50; biweekly net: 60,921.50 ÷ 26 = $2,343.13.
Gross $2,884.62 per biweekly check, net about $2,343.13, with an effective tax-plus-FICA rate of 18.77%.
Frequently asked questions
- Does this calculator include state income tax?
- No. It models only federal income tax and FICA. State and local income taxes, where they apply, would further reduce your take-home pay, so add those separately based on where you live and work.
- Why is the standard deduction applied automatically?
- The tool assumes you take the 2024 standard deduction for your filing status rather than itemizing. If you itemize larger deductions or have pre-tax 401(k) or health contributions, your real taxable income and take-home pay would differ.
- What does the effective rate represent?
- It is the sum of your federal income tax and FICA divided by your gross salary, expressed as a percentage. It captures the combined bite of those two taxes, not your top marginal bracket.