Calculator.pro

Salary Calculator (Take-Home Pay)

Calculate your take-home pay after taxes and deductions to see how much you actually earn.

Quick Examples

Select how you receive your income
$
Enter your gross annual salary before taxes and deductions
$/hour
Enter your hourly wage rate
Enter the number of hours you work per week
How often do you receive your paycheck
Your tax filing status
Select your state of residence for state tax calculations
Number of dependents or allowances claimed
%
Percentage of salary contributed to 401(k) or similar retirement plan
$
Amount deducted per paycheck for health insurance
$
Other pre-tax deductions such as FSA, HSA, etc.
$
Other post-tax deductions

About This Calculator

This salary calculator helps you determine your actual take-home pay after taxes and deductions. Understanding your net income (the amount you actually receive after all deductions) is crucial for budgeting, financial planning, and evaluating job offers. This calculator accounts for federal income tax, state income tax, Social Security, Medicare, and common deductions like retirement contributions and health insurance. Simply enter your salary information, specify your filing status and location, add any applicable deductions, and instantly see a breakdown of your take-home pay on a yearly, monthly, bi-weekly, weekly, and hourly basis.

Frequently Asked Questions

How is take-home pay calculated?

Take-home pay (also called net pay) is calculated by subtracting all deductions from your gross income. These deductions typically include federal and state income taxes, Social Security and Medicare taxes (FICA), retirement contributions, health insurance premiums, and other voluntary deductions. The formula is: Gross Income - Taxes - Deductions = Take-Home Pay.

What is the difference between gross pay and net pay?

Gross pay is your total earnings before any taxes or deductions are taken out. Net pay (take-home pay) is the amount you actually receive after all taxes and deductions have been subtracted from your gross pay. For example, if your salary is $50,000 per year (gross pay), your net pay might be around $38,000 after all deductions.

Why is my take-home pay so much less than my salary?

Your take-home pay is lower than your gross salary due to various deductions, including federal income tax (which can range from 10% to 37% depending on your income level), state income tax (varies by state), FICA taxes (7.65% for Social Security and Medicare combined), retirement contributions, health insurance premiums, and other deductions. These can easily reduce your gross pay by 20-30% or more.

How accurate is this calculator?

This calculator provides a good estimate of your take-home pay based on standard tax brackets, deductions, and withholding formulas. However, it may not account for all possible deductions, credits, or special tax situations. Your actual take-home pay might vary based on specific circumstances such as itemized deductions, tax credits, local taxes, or other factors. For precise calculations, consult a tax professional.

What tax brackets are used in this calculator?

This calculator uses the most recent federal income tax brackets and standard deductions available. State tax calculations are based on each state's current income tax rates. The calculator is updated regularly to reflect changes in tax laws, but tax rates and brackets are subject to change annually.

How do pre-tax deductions affect my take-home pay?

Pre-tax deductions like 401(k) contributions, health insurance premiums, and HSA/FSA contributions are subtracted from your gross income before taxes are calculated. This reduces your taxable income, which can lower your income tax burden. As a result, contributing to pre-tax accounts often reduces your overall tax liability and can be more efficient than post-tax deductions.