Paycheck Calculator
Calculate your take-home pay per paycheck for salary and hourly jobs after federal, state & local taxes
Updated for 2024 tax year on Jul 06, 2024
Paycheck calculators by state
How to calculate your paycheck
Table of Contents
Federal paycheck calculation
All residents and citizens in the USA are subjected to income taxes. Residents and citizens are taxed on worldwide income (working overseas, etc.). In contrast, nonresidents are taxed only on income within the jurisdiction.
The 12-month period for income taxes begins on January 1st and ends on December 31st of the same calendar year.
The federal income tax rates differ from state income tax rates. Federal taxes are progressive (higher rates on higher income levels). At the same time, states have an advanced tax system or a flat tax rate on all income.
The income tax rate varies from state to state. Eight states are without an income tax, and one has no wage income tax.
It is also worth noting that the recent Tax Cuts and Jobs Act (TCJA) of 2017 made several significant changes to the individual income tax across the board. To understand the differences in detail, refer to this Investopedia article.
The above paycheck calculator is applicable for calculating paychecks of individuals who have an annual salary, hourly wage, or are seasonal workers or self-employed.
Calculate your paycheck in 6 steps
There are six main steps to work out your final paycheck.
Step 1 – Gross income
First, we need to determine your gross income. If you are salaried, your annual salary will be your gross income. If you are paid hourly, you must multiple the hours, days and weeks.
The following is the formula for both cases:
- Annual salary – Annual salary = Gross income
- Hourly wage – Hourly wage × Hours worked per day × Days worked per week × Weeks worked per year = Your weekly paycheck
Step 2 – Federal income tax liability
There are four substeps to take to work out your total federal taxes.
Step 2.1 – Gross income adjusted
The formula is:
Gross income − Pre-tax deductions = Gross income adjusted
This income is not your Adjusted Gross Income (AGI) but rather your gross income adjusted for specific pre-tax deductions relevant to FICA taxes.
Some of pre-tax contributions are:
- 401(k) plans
- FSA
- HSA
- Medical insurance
- Life insurance
For the breakdown of the various above-the-line deductions or adjustments, refer to this article from thebalance.com.
Step 2.2 – Federal taxable income
Now, you need to figure out your federal taxable income.
The formula is:
Gross income adjusted − Federal standard/itemized deductions = Federal taxable income
You can either take the standard deduction amount or itemize your deductions. If your itemized deductions are less than the standard deduction, claim the standard amount 🙂
Some of the deductions you can itemize are:
- Charitable donations
- Home mortgage interest
Exemptions have been eliminated from Federal income tax since the Tax Cuts and Jobs Act (TCJA) was implemented in 2018. However, some states still have exemptions in their income tax calculation.
You might be confused with deductions and exemptions, so the following is a quote from Zacks.com:
Tax deductions are items you claim to reduce your tax liability while exemptions refer to the people you claim to reduce tax liability, such as dependents.
Step 2.3 – Federal income tax liability
This step is straightforward. You need to understand which tax bracket you belong to based on your taxable income and filing status.
The formula is:
Federal taxable income × Federal income tax rate = Federal income tax liability
Your marital status and whether you have any dependents will determine your filing status.
For example, if you are single and have a child, you should file as ‘Head of Household’.
Refer to IRS to understand more.
Step 2.4 – Federal payroll tax liability
There is an additional tax (surprise!) before the final step. Federal Insurance Contributions Act (FICA) is the payroll tax taken directly from your paycheck. FICA consists of Social Security and Medicare. The self-employed are taxed twice as much as regular employees.
The formula is:
Gross income × Federal payroll tax rate = Federal payroll tax liability
Step 3 – State income tax liability
Like federal tax liability, there are a few substeps to work out your state tax liability.
Step 3.1 – State taxable income
You can use the federal AGI you calculated earlier.
The formula is:
Gross income adjusted − (State standard/itemized deductions + State exemptions) = State taxable income
Step 3.2 – State income tax liability
Some states have a flat rate, some don’t have income tax and some adopt progressive income tax rates. Depending on the state, your tax bracket may be based on your filing status.
The formula is:
State taxable income × State income tax rate = State income tax liability
Step 3.3 – State payroll tax liability
State payroll taxes are mainly State Unemployment Insurance (SUI), State Disability Insurance (SDI) and Paid Family and Medical Leave (PFML)
The formula is:
State taxable income × State payroll tax rate = State payroll tax liability
Step 4 – Local income tax liability
Some cities or counties impose local income tax.
The formula is:
(Gross income or State taxable income) × Local income tax rate = Local income tax liability
Step 5 – Your net pay
After calculating your total tax liability, subtract deductions (pre and post-tax) and any withholdings (if applicable).
The formula is:
Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay
Step 6 – Your paycheck
For the final step, divide your net pay by your pay frequency. The following is the formula for each pay frequency:
- Daily – Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck
- Weekly – Your net pay / 52 = Your weekly paycheck
- Bi-weekly – Your net pay / 26 = Your bi-weekly paycheck
- Semi-monthly – Your net pay / 24 = Your semi-monthly paycheck
- Monthly – Your net pay / 12 = Your monthly paycheck
- Quarterly – Your net pay / 4 = Your quarterly paycheck
- Semi-annual – Your net pay / 2 = Your semi-annual paycheck
- Annual – Your net pay = Your annual paycheck
For visual explanations of the above steps, refer to YouTube videos from Ladder Up, MoneyCoach, or Edspira.
Federal Insurance Contributions Act (FICA)
Also known as ‘paycheck tax’ or ‘payroll tax’, these taxes are taken from your paycheck directly. They are used to fund social Security and Medicare.
For example, in the 2020 tax year, the Social Security tax is 6.2% for employees and 1.45% for the Medicare tax.
If your monthly paycheck is $6000, $372 goes to Social Security, and $87 goes to Medicare, leaving you with $6000 − $372 − $87 = $5541
Social Security
| Tax year | Employment status | Gross income | Rate |
|---|---|---|---|
| 2024 | Employer | Up to $168,600 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2023 | Employer | Up to $160,200 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2022 | Employer | Up to $147,000 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2021 | Employer | Up to $142,800 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2020 | Employer | Up to $137,700 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% |
Medicare
| Tax year | Employment status | Filing status | Gross income | Rate |
|---|---|---|---|---|
| 2024 2023 2022 2021 2020 |
Employer | Single & Head of Household | Up to $200,000 | 1.45% |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 2.35% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over | |||
| Employee | Single & Head of Household | Up to $200,000 | 1.45% | |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 2.35% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over | |||
| Self-employed | Single & Head of Household | Up to $200,000 | 2.90% | |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 3.80% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over |
Income tax brackets
Every year, IRS adjusts some tax provisions for inflation. Your federal tax bracket varies yearly, and you need to check the latest data before you do your tax return.
You can refer to Tax Foundation for the latest federal income tax brackets.
The income tax rate varies from state to state. Eight states don’t have an income tax, and one (New Hampshire) has no wage income tax.
| Tax year | Filing status | Taxable income | Rate |
|---|---|---|---|
| 2024 | Single | $0 - $11,600 | 10% |
| $11,601 - $47,150 | 12% | ||
| $47,151 - $100,525 | 22% | ||
| $100,526 - $191,950 | 24% | ||
| $191,951 - $243,725 | 32% | ||
| $243,726 - $609,350 | 35% | ||
| $609,351 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $23,200 | 10% | |
| $23,221 - $94,300 | 12% | ||
| $94,301 - $201,050 | 22% | ||
| $201,051 - $383,900 | 24% | ||
| $383,901 - $487,450 | 32% | ||
| $487,451 - $731,200 | 35% | ||
| $731,201 and over | 37% | ||
| Married, Filing Separately | $0 - $11,600 | 10% | |
| $11,601 - $47,150 | 12% | ||
| $47,151 - $100,525 | 22% | ||
| $100,526 - $191,950 | 24% | ||
| $191,951 - $243,725 | 32% | ||
| $243,726 - $365,600 | 35% | ||
| $365,601 and over | 37% | ||
| Head of Household | $0 - $16,550 | 10% | |
| $16,551 - $63,100 | 12% | ||
| $63,101 - $100,500 | 22% | ||
| $100,501 - $191,950 | 24% | ||
| $191,951 - $243,700 | 32% | ||
| $243,701 - $609,350 | 35% | ||
| $609,351 and over | 37% | ||
| 2023 | Single | $0 - $11,000 | 10% |
| $11,001 - $44,725 | 12% | ||
| $44,726 - $95,375 | 22% | ||
| $95,376 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $578,125 | 35% | ||
| $578,126 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $22,000 | 10% | |
| $22,001 - $89,450 | 12% | ||
| $89,451 - $190,750 | 22% | ||
| $190,751 - $364,200 | 24% | ||
| $364,201 - $462,500 | 32% | ||
| $462,501 - $693,750 | 35% | ||
| $693,751 and over | 37% | ||
| Married, Filing Separately | $0 - $11,000 | 10% | |
| $11,001 - $44,725 | 12% | ||
| $44,726 - $95,375 | 22% | ||
| $95,376 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $346,875 | 35% | ||
| $346,876 and over | 37% | ||
| Head of Household | $0 - $15,700 | 10% | |
| $15,701 - $59,850 | 12% | ||
| $59,851 - $95,350 | 22% | ||
| $95,351 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $578,100 | 35% | ||
| $578,101 and over | 37% | ||
| 2022 | Single | $0 - $10,275 | 10% |
| $10,276 - $41,775 | 12% | ||
| $41,776 - $89,075 | 22% | ||
| $89,076 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $539,900 | 35% | ||
| $539,901 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $20,550 | 10% | |
| $20,551 - $83,550 | 12% | ||
| $83,551 - $178,150 | 22% | ||
| $178,151 - $340,100 | 24% | ||
| $340,101 - $431,900 | 32% | ||
| $431,901 - $647,850 | 35% | ||
| $647,851 and over | 37% | ||
| Married, Filing Separately | $0 - $10,275 | 10% | |
| $10,276 - $41,775 | 12% | ||
| $41,776 - $89,075 | 22% | ||
| $89,076 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $323,925 | 35% | ||
| $323,926 and over | 37% | ||
| Head of Household | $0 - $14,650 | 10% | |
| $14,651 - $55,900 | 12% | ||
| $55,901 - $89,050 | 22% | ||
| $89,051 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $539,900 | 35% | ||
| $539,901 and over | 37% | ||
| 2021 | Single | $0 - $9,950 | 10% |
| $9,951 - $40,525 | 12% | ||
| $40,526 - $86,375 | 22% | ||
| $86,376 - $164,925 | 24% | ||
| $164,926 - $209,425 | 32% | ||
| $209,426 - $523,600 | 35% | ||
| $523,601 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $19,900 | 10% | |
| $19,901 - $81,050 | 12% | ||
| $81,051 - $171,050 | 22% | ||
| $172,751 - $329,850 | 24% | ||
| $329,851 - $418,850 | 32% | ||
| $418,851 - $628,300 | 35% | ||
| $628,301 and over | 37% | ||
| Married, Filing Separately | $0 - $9,950 | 10% | |
| $9,951 - $40,525 | 12% | ||
| $40,526 - $86,375 | 22% | ||
| $86,376 - $164,925 | 24% | ||
| $164,926 - $209,425 | 32% | ||
| $209,426 - $314,150 | 35% | ||
| $314,151 and over | 37% | ||
| Head of Household | $0 - $14,200 | 10% | |
| $14,201 - $54,200 | 12% | ||
| $54,201 - $86,350 | 22% | ||
| $86,351 - $164,900 | 24% | ||
| $164,901 - $209,400 | 32% | ||
| $209,401 - $523,600 | 35% | ||
| $523,601 and over | 37% | ||
| 2020 | Single | $0 - $9,875 | 10% |
| $9,876 - $40,125 | 12% | ||
| $40,126 - $85,525 | 22% | ||
| $85,526 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $518,400 | 35% | ||
| $518,401 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $19,750 | 10% | |
| $19,751 - $80,250 | 12% | ||
| $80,251 - $171,050 | 22% | ||
| $171,051 - $326,600 | 24% | ||
| $326,601 - $414,700 | 32% | ||
| $414,701 - $622,050 | 35% | ||
| $622,051 and over | 37% | ||
| Married, Filing Separately | $0 - $9,875 | 10% | |
| $9,876 - $40,125 | 12% | ||
| $40,126 - $85,525 | 22% | ||
| $85,526 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $311,025 | 35% | ||
| $311,026 and over | 37% | ||
| Head of Household | $0 - $14,100 | 10% | |
| $14,101 - $53,700 | 12% | ||
| $53,701 - $85,500 | 22% | ||
| $85,501 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $518,400 | 35% | ||
| $518,401 and over | 37% |
Standard deduction
Also known as post-tax deductions, you can take the standard deduction amount or itemize your deductions. If your itemized deductions are less than the standard deduction, claim the standard amount :-).
Some of the deductions you can itemize are:
- Charitable donations
- Home mortgage interest
For a list of itemizable deductions, refer to Dough Roller’s ultimate list.
| Tax year | Filing status | Standard deduction amount |
|---|---|---|
| 2024 | Single | $14,600 |
| Married, Filing Jointly | $29,200 | |
| Married, Filing Separately | $14,600 | |
| Head of Household | $21,900 | |
| 2023 | Single | $13,850 |
| Married, Filing Jointly | $27,700 | |
| Married, Filing Separately | $13,850 | |
| Head of Household | $20,800 | |
| 2022 | Single | $12,950 |
| Married, Filing Jointly | $25,900 | |
| Married, Filing Separately | $12,950 | |
| Head of Household | $19,400 | |
| 2021 | Single | $12,550 |
| Married, Filing Jointly | $25,100 | |
| Married, Filing Separately | $12,550 | |
| Head of Household | $18,800 | |
| 2020 | Single | $12,200 |
| Married, Filing Jointly | $24,400 | |
| Married, Filing Separately | $12,200 | |
| Head of Household | $18,350 |
FAQs
How to calculate paycheck from salary?
Do the following steps to get your take-home pay:
- Determine your gross income
- Work out your total federal income tax
- Calculate your total state income tax
- Derive your local income tax liability
- Gross income minus taxes, deductions and withholdings
- Divide your net pay by your pay frequency
What will my paycheck be after taxes?
Subtract your gross income with income taxes (federal, state, local) and payroll taxes (FICA, state insurance). You might need to minus deductions (401k, dental, etc) and additional withholdings. Use our free online paycheck calculator for a more precise estimate.
What is the most accurate paycheck calculator?
We are biased and we think we have the best paycheck calculator 😀 Our calculator is always kept up-to-date with the latest tax rates. It works for salary and hourly jobs, as well as self-employed people. There is also an option to spread your pay out over 12 months.