Paycheck Calculator
Calculate your take-home pay after taxes and deductions.
Income Details
Paycheck Breakdown
Per biweekly period before deductions
Estimated tax withholding
Additional deductions per period
Your take-home pay
Note:
This is a simplified calculation. Actual take-home pay may vary based on local tax laws, filing status, and additional deductions or benefits.
Understanding Your Paycheck
Your paycheck consists of several components that affect your final take-home pay. Understanding these elements helps you better plan your finances and ensure you're properly managing your income.
Pre-tax Deductions
- • 401(k) contributions
- • Health insurance premiums
- • Health Savings Account (HSA)
- • Flexible Spending Account (FSA)
- • Commuter benefits
Post-tax Deductions
- • Roth 401(k) contributions
- • Life insurance premiums
- • Disability insurance
- • Union dues
- • Wage garnishments
Tax Withholdings Explained
Federal Taxes
- • Based on W-4 information
- • Progressive tax brackets
- • Standard deduction consideration
- • Tax credits impact
State Taxes
- • Varies by state
- • Some states have no income tax
- • Local taxes may apply
- • Different brackets by state
FICA Taxes
- • Social Security (6.2%)
- • Medicare (1.45%)
- • Additional Medicare above threshold
- • Employer matches contribution
Pay Period Types
Common Pay Frequencies
Weekly (52 pay periods):
Paid every week, typically on the same day
Biweekly (26 pay periods):
Paid every two weeks, most common in the US
Semi-monthly (24 pay periods):
Paid twice per month, often 1st and 15th
Monthly (12 pay periods):
Paid once per month, typically same date
Budgeting Tips
- • Base monthly budget on lowest paycheck
- • Account for months with extra paychecks
- • Set up automatic savings transfers
- • Plan for irregular expenses
- • Consider tax implications of bonuses
- • Review withholdings annually
Maximizing Your Take-Home Pay
Tax Strategies
- • Review W-4 withholdings
- • Contribute to pre-tax accounts
- • Understand tax brackets
- • Claim eligible deductions
- • Consider tax credits
Benefits Optimization
- • Maximize employer match
- • Use FSA/HSA accounts
- • Compare benefit options
- • Review insurance needs
- • Consider voluntary benefits
Long-term Planning
- • Set retirement goals
- • Build emergency fund
- • Plan for major expenses
- • Review investments
- • Consider career growth