Take-Home Pay Calculator
Estimate your net pay after federal, state, and FICA taxes.
Pre-tax retirement savings
Health Savings Account
Understanding Your Paycheck
Your gross salary is reduced by several taxes before you receive your net (take-home) pay.
Taxes Taken From Your Paycheck
Federal Income Tax
Based on tax brackets that increase with income. The US uses a progressive system where higher portions of income are taxed at higher rates.
State Income Tax
Varies by state. Nine states have no income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
FICA Taxes
- Social Security: 6.2% on earnings up to $168,600 (2024)
- Medicare: 1.45% on all earnings (plus 0.9% additional Medicare on income over $200,000)
Reducing Your Tax Burden
Pre-tax deductions reduce your taxable income:
- 401(k) contributions: Up to $23,000/year (2024)
- HSA contributions: Up to $4,150 individual / $8,300 family
- FSA contributions: Up to $3,200/year
- Traditional IRA: Up to $7,000/year
Marginal vs Effective Tax Rate
Marginal rate: The rate on your next dollar of income (your tax bracket).
Effective rate: Your total tax divided by total income. This is usually lower because income is taxed at different rates through the brackets.
Disclaimer
This calculator provides estimates only. Your actual tax situation depends on many factors including deductions, credits, and other income. Consult a tax professional for personalized advice.