Take-Home Pay Calculator
Estimate your exact take-home pay after taxes and deductions. This tool calculates your net income by subtracting Federal, State, and FICA taxes, plus pre-tax (401k) and post-tax deductions. See your true buying power per month, bi-weekly, or week.
Income & Deductions
401k, HSA, FSA, etc.
Health insurance, uniform, etc.
Post-tax deductions reduce net pay after taxes.
Tax Profile
Estimated Monthly Take-Home
Paycheck Schedule
Detailed Breakdown (Annual)
Income Distribution
Key Insights
- Your take-home pay is approximately 78.1% of your gross income.
Next step
Estimate your paycheck for specific pay periods.
How It Works
Your take-home pay is the most important number for your personal budget. While your salary might be $60,000, the amount you actually have to spend on rent, groceries, and savings is your Net Pay.
The calculation follows a specific order of operations:
1. Gross Income
Total earnings from salary, hourly wages, and bonuses.
2. Pre-Tax Deductions
Money taken out before taxes are calculated. This includes 401(k) contributions, HSA funds, and FSA allocations. These lower your tax bill.
3. Taxes
Mandatory government withholdings:
- Federal Income Tax: Progressive rates based on income.
- State Income Tax: Varies by location.
- FICA: 6.2% Social Security + 1.45% Medicare.
4. Post-Tax Deductions
Money taken out after taxes. This often includes health insurance premiums (if not pre-tax), Roth 401(k) contributions, wage garnishments, or union dues.
Take Home Pay = Gross - PreTax - Taxes - PostTax
Maximizing Your Take-Home Pay
Understanding how your paycheck is calculated is the first step to optimizing it. Many employees are surprised to learn they have some control over their net pay.
The Impact of Deductions
Deductions fall into two categories: those that save you tax money (Pre-Tax) and those that don't (Post-Tax).
- Pre-Tax (The Good Kind): Contributing to a Traditional 401(k) reduces your taxable income. If you are in the 22% tax bracket, every $100 you contribute only lowers your paycheck by $78. The government effectively "pays" the other $22.
- Post-Tax (The Necessary Kind): Things like Roth IRA contributions or certain life insurance policies come out after taxes. They don't lower your current tax bill, but Roth contributions grow tax-free.
Example: $80,000 Salary Scenario
Let's look at how an $80,000 salary breaks down for a single filer in a state with average taxes (e.g., 4%):
| Category | Amount | Notes |
|---|---|---|
| Gross Pay | $80,000 | Starting Salary |
| 401(k) (5%) | -$4,000 | Pre-Tax Deduction |
| Federal Tax | ~$8,500 | Est. 2024 Bracket |
| State Tax (4%) | ~$3,000 | Est. State Tax |
| FICA | -$6,120 | SS + Medicare |
| Net Pay | ~$58,380 | Annual Take-Home |
In this scenario, your take-home pay is about 73% of your gross salary.
Common Questions About Paychecks
Can I increase my take-home pay without a raise?
Yes! If you regularly get a large tax refund, you are letting the government hold your money interest-free. Adjust your W-4 withholdings to reduce the tax taken out of each check. You will get a smaller refund, but more money each month.
Does overtime affect my tax rate?
Overtime pay is taxed as ordinary income. However, a large overtime check might push that specific paycheck into a higher withholding bracket, making it look like it's taxed heavily. You will get any overpayment back when you file your annual return.