Paycheck Calculator
About Paycheck Calculator
The paycheck calculator divides annual salary into pay periods, subtracts per-paycheck deductions, estimates taxes, and reports take-home pay.
How to Use
The paycheck calculator divides annual salary into pay periods, subtracts per-paycheck deductions, estimates taxes, and reports take-home pay. Fill in Annual salary, Pay periods per year, Federal tax rate, State tax rate, FICA rate, Deductions per paycheck, Tax mode, Federal bracket 1 limit, Federal bracket 1 rate, Federal bracket 2 limit, Federal bracket 2 rate, and Federal bracket 3 rate, then review the calculated Gross paycheck, Taxes per paycheck, Take-home paycheck, Annual take-home pay, and Federal tax per paycheck.
- Open the calculator : Use Paycheck Calculator from the Finance category.
- Check the inputs : Review the required values and any optional settings.
- Read the formula : Use the formula and notes below to understand how the result is produced.
Common Questions
What does the Paycheck Calculator estimate?
Estimate gross pay, taxes, deductions, and take-home pay.
What can change the estimate?
This is an estimate, so taxes, fees, payment timing, compounding, and changing returns can move the result.
Inputs
- Annual salary
- Pay periods per year
- Tax mode
- Federal tax rate
- Federal bracket 1 limit
- Federal bracket 1 rate
- Federal bracket 2 limit
- Federal bracket 2 rate
- Federal bracket 3 rate
- State tax rate
- FICA rate
- Deductions per paycheck
Outputs
- Gross paycheck
- Federal tax per paycheck
- Taxes per paycheck
- Take-home paycheck
- Annual take-home pay
Formula
Take-home pay = gross paycheck - deductions - estimated taxes.