Why does this differ from my actual paycheck?

This calculator uses simplified 2024 federal brackets and a flat state rate. Your actual withholding depends on your W-4 elections (allowances, extra withholding), additional Medicare tax for high earners, local/city taxes, health insurance premiums, HSA contributions, and other deductions your employer may withhold.

What is the difference between pre-tax and post-tax 401(k) contributions?

Traditional 401(k) contributions are pre-tax — they reduce your taxable income now and grow tax-deferred. Roth 401(k) contributions are post-tax — no immediate tax benefit, but qualified withdrawals in retirement are tax-free. This calculator models traditional pre-tax contributions.

Income

Paycheck Calculator

A paycheck calculator shows how much of your gross salary actually lands in your bank account after federal and state income taxes, Social Security, Medicare, and pre-tax retirement contributions are withheld. Understanding your take-home pay helps with budgeting and evaluating job offers.

Paycheck

How it works

Formula & methodology

Federal income tax is calculated using the 2024 marginal tax brackets for your filing status, applied to taxable income (gross minus pre-tax 401k contributions). Social Security is 6.2% of gross wages up to the annual wage base. Medicare is 1.45% of all wages. State income tax is applied at the flat rate you enter. Net pay = Gross - Federal tax - Social Security - Medicare - State tax - 401(k) contribution.

Source: IRS: Tax withholding estimator

Example

Worked example

Example: a $65,000 salary, single filer, 5% state tax, biweekly pay, 5% 401(k). Gross per paycheck: $2,500. After ~$340 federal tax, $155 Social Security, $36 Medicare, $119 state tax, and $125 401(k), estimated net take-home is roughly $1,725 per paycheck.

FAQ

Frequently asked questions

Why does this differ from my actual paycheck?: This calculator uses simplified 2024 federal brackets and a flat state rate. Your actual withholding depends on your W-4 elections (allowances, extra withholding), additional Medicare tax for high earners, local/city taxes, health insurance premiums, HSA contributions, and other deductions your employer may withhold.
What is the difference between pre-tax and post-tax 401(k) contributions?: Traditional 401(k) contributions are pre-tax — they reduce your taxable income now and grow tax-deferred. Roth 401(k) contributions are post-tax — no immediate tax benefit, but qualified withdrawals in retirement are tax-free. This calculator models traditional pre-tax contributions.

Tips

Practical tips

Review your W-4 withholding once a year, especially after a raise, marriage, or a new dependent — incorrect withholding is one of the most common reasons for a surprise tax bill or an interest-free loan to the government via a large refund.
If you're consistently getting a large tax refund, consider adjusting your withholding to increase your take-home pay throughout the year instead — a refund is money you already earned, held interest-free until tax season.

Results are estimates for general informational purposes only and do not constitute financial, tax, or legal advice. Always confirm important figures with a qualified professional or your lender before making a financial decision.