Take Home Paycheck Calculator
Calculate your take-home pay after taxes and deductions
Results
Gross Pay
$0.00
Per pay period
Federal Tax
$0.00
NaN% of gross
State Tax
$0.00
NaN% of gross
FICA Taxes
$0.00
SS: $0.00 | Medicare: $0.00
Take Home Pay
$0.00
NaN% of gross pay
Understanding Your Paycheck
Gross vs. Net Pay
Gross pay is your total earnings before any deductions or taxes. Net pay, or take-home pay, is what you actually receive after all deductions, including taxes, insurance premiums, and retirement contributions.
Mandatory Deductions
- Federal Income Tax
- State Income Tax (where applicable)
- Social Security Tax (6.2% up to wage base)
- Medicare Tax (1.45% + 0.9% for high earners)
- Local Taxes (where applicable)
Common Voluntary Deductions
- Health Insurance Premiums
- Retirement Plan Contributions
- Flexible Spending Accounts (FSA)
- Health Savings Accounts (HSA)
- Life Insurance Premiums
Types of Paycheck Deductions
| Type | Examples | Tax Benefit | Timing |
|---|---|---|---|
| Pre-tax Deductions | 401(k), Health Insurance, FSA | Reduces taxable income | Deducted before taxes |
| Post-tax Deductions | Roth 401(k), Disability Insurance | No immediate tax benefit | Deducted after taxes |
| Required Deductions | Social Security, Medicare | None - mandatory taxes | Based on gross income |
| Voluntary Benefits | Life Insurance, Legal Plans | Varies by benefit type | Can be pre or post-tax |
Tax Withholding
Form W-4
- Determines federal tax withholding
- Update when life changes occur
- Affects take-home pay amount
- Consider multiple jobs/income
- Account for tax credits/deductions
Withholding Adjustments
- Review withholding annually
- Consider additional withholding
- Account for non-wage income
- Plan for life changes
- Avoid tax surprises
Maximizing Take-Home Pay
Pre-tax Strategies
- Maximize 401(k) contributions
- Use FSA/HSA accounts
- Choose pre-tax benefits
- Consider commuter benefits
- Review dependent care options
Tax Planning
- Review tax withholding
- Plan deductions carefully
- Consider tax credits
- Track tax-deductible expenses
- Consult tax professional
Paycheck Tips
Regular Review
- Check pay stubs regularly
- Verify deductions
- Monitor tax withholding
- Track benefit changes
Common Mistakes
- Wrong W-4 information
- Missed benefit deadlines
- Incorrect deductions
- Overlooked tax credits