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Take-Home Paycheck Calculator
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About the Take-Home Paycheck Calculator
Estimate your take-home pay from gross income after federal tax, state tax and retirement contributions.
How to use the Take-Home Paycheck Calculator
- Enter your Gross Payment ($) and choose the Pay Interval: Yearly, Monthly, Bi-Weekly, Weekly or Hourly (40h).
- Enter Fed Tax (%), State Tax (%) and 401k / Ded. (%).
- Press Calculate to see deductions and net pay.
Formula and method
Net pay = Gross − (Gross × Fed %) − (Gross × State %) − (Gross × Deduction %)
This is a simple percentage-based estimate.
Worked example
A monthly gross of $5,000 with 12% federal tax, 4% state tax and a 5% retirement deduction removes $600, $200 and $250, leaving $3,950.
When to use the Take-Home Paycheck Calculator
- Estimating your take-home pay before you accept a job.
- Seeing how retirement contributions or benefits change your net pay.
- Planning a monthly budget from your real, after-tax income.
Common mistakes to avoid
- Budgeting from gross pay instead of net pay.
- Forgetting deductions such as health insurance, retirement plan contributions and union dues.
- Assuming the tax withheld equals what you will really owe at year end.
Tips
- Your real paycheck also has payroll taxes and benefit deductions. Check your pay stub for exact figures.
- Use your effective tax rate rather than your top bracket.
Frequently Asked Questions
Withholding depends on your W-4, benefits, payroll taxes and pay period, so real numbers differ from a simple estimate.
Income tax, social insurance and benefit deductions are taken out of gross pay before you receive it.
Amounts such as certain retirement or health contributions that are taken before tax, which lowers your taxable income.