Paycheck Calculator
Calculate your take-home pay after federal, state, and FICA taxes. See how 401(k) contributions, HSA, and insurance deductions affect your paycheck. Updated for 2024 tax brackets.
Income & Pay Frequency
Pre-Tax Deductions
Post-Tax Deductions (Per Paycheck)
Your Take-Home Pay
per paycheck (every 2 weeks)
Paycheck Breakdown
| Gross Pay | $2,884.62 |
| 401(k) Contribution | -$173.08 |
| Federal Income Tax | -$282.73 |
| State Income Tax | -$252.17 |
| Social Security | -$178.85 |
| Medicare | -$41.83 |
| Health Insurance | -$200.00 |
| Dental/Vision | -$50.00 |
| Life/Disability | -$25.00 |
| Net Pay | $1,680.96 |
Tax Summary (Per Paycheck)
Deductions Summary (Per Paycheck)
Understanding Your Paycheck
Pre-Tax vs Post-Tax
Pre-tax deductions (401k, HSA) reduce your taxable income, saving you money. Post-tax deductions come out after taxes are calculated. Maximize pre-tax contributions when possible.
FICA Taxes
Social Security (6.2%) and Medicare (1.45%) are mandatory. Social Security stops at $168,600 income (2024). Medicare has no cap and adds 0.9% above $200k single / $250k married.
Effective vs Marginal Rate
Your marginal rate is the tax on your last dollar earned. Your effective rate is total tax divided by total income—always lower because of brackets and deductions.
Frequently Asked Questions
How do I calculate my take-home pay?
Take-home pay = Gross pay - All deductions
Deductions include:
- Pre-tax: 401(k), HSA, FSA, transit benefits
- Federal income tax (based on brackets)
- State income tax (varies by state)
- FICA: Social Security (6.2%) + Medicare (1.45%)
- Post-tax: Health insurance, life insurance, etc.
What is FICA tax?
FICA (Federal Insurance Contributions Act) includes:
- Social Security: 6.2% up to $168,600 (2024)
- Medicare: 1.45% with no income limit
- Additional Medicare: 0.9% on income over $200k (single)
Your employer pays a matching amount for SS and Medicare.
How much should I contribute to my 401(k)?
- Minimum: Enough to get full employer match (free money!)
- Recommended: 15-20% of income including match
- 2024 limit: $23,000 ($30,500 if age 50+)
401(k) contributions reduce taxable income, lowering your tax bill now.
Bi-weekly vs semi-monthly pay?
| Bi-weekly | Semi-monthly |
|---|---|
| Every 2 weeks | Twice per month (e.g., 1st & 15th) |
| 26 paychecks/year | 24 paychecks/year |
| Smaller checks | Larger checks |
| 2 "extra" checks/year | Consistent monthly budgeting |