Take-Home Pay Calculator

Calculate your net pay per paycheck after federal tax, state tax, Social Security, Medicare, 401(k) contributions, and health insurance premiums.

Pay Details

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Enter your salary details and click Calculate to see your take-home pay breakdown.

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Pro Tip

Increase your 401(k) contribution when you get a raise to boost retirement savings without feeling a big impact on your paycheck, since the contribution is pre-tax.

Explore 401(k) Calculator →

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Understanding Your Paycheck Deductions

Your take-home pay is the amount you actually receive after all deductions from your gross salary. Understanding these deductions helps you budget accurately and make informed decisions about benefits elections.

Federal income tax is calculated on your taxable income after subtracting pre-tax deductions (like 401(k) contributions) and your standard or itemized deduction. The progressive tax system means only the income in each bracket is taxed at that rate.

FICA taxes include Social Security (6.2% on wages up to $168,600 in 2024) and Medicare (1.45% on all wages, plus an additional 0.9% on wages over $200,000). These fund retirement and healthcare benefits.

Pre-tax deductions like 401(k) contributions and health insurance premiums reduce your taxable income, effectively costing you less than the face amount. A $100 401(k) contribution for someone in the 22% bracket only reduces take-home pay by about $78.

Net Pay Calculation

Net Pay = Gross - Federal Tax - State Tax - FICA - Pre-Tax Deductions

Where:

Federal Tax = Progressive tax on income after deductions

State Tax = Varies by state (0% to 13.3%)

FICA = Social Security (6.2%) + Medicare (1.45%)

Pre-Tax = 401(k), HSA, health insurance, etc.

Example

Single filer earning $75,000, 6% 401(k), $200/mo health insurance:

  • • 401(k) = $75,000 x 6% = $4,500
  • • Taxable income = $75,000 - $4,500 - $14,600 = $55,900
  • • Federal tax approx. $7,831
  • • Social Security = $75,000 x 6.2% = $4,650
  • • Medicare = $75,000 x 1.45% = $1,087.50
  • • Net annual approx. $53,131 ($2,043/biweekly)

Frequently Asked Questions

Why is my take-home pay so much less than my salary?
Federal income tax, state income tax, Social Security (6.2%), Medicare (1.45%), and pre-tax deductions like 401(k) and health insurance all reduce your paycheck. For a typical earner, total deductions can be 25-35% of gross pay.
How does my 401(k) contribution affect my paycheck?
401(k) contributions are pre-tax, meaning they reduce your taxable income. A $500/month contribution in the 22% bracket reduces your paycheck by only about $390 because you save $110 in federal taxes.
What is the Social Security wage base for 2024?
For 2024, Social Security tax (6.2%) applies only to the first $168,600 of wages. Once your year-to-date earnings exceed this amount, Social Security tax stops being withheld, temporarily increasing your take-home pay.
Is state income tax the same everywhere?
No. Seven states have no income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington, Wyoming), while others range from about 1% to 13.3% (California). New Hampshire and Tennessee only tax investment income.