Paycheck Calculator
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Federal only. State income tax varies — check your state's rate separately.
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What This Calculator Includes
This calculator estimates your federal take-home pay using 2024 tax rates. It accounts for the three deductions that appear on nearly every American paycheck:
- Federal income tax — based on your gross income, standard deduction, and filing status
- Social Security — 6.2% of wages up to $168,600 (2024 wage base)
- Medicare — 1.45% on all wages, plus 0.9% additional tax on wages above $200,000
State income tax, local taxes, 401(k) contributions, health insurance premiums, and other pre-tax deductions are not included — your actual paycheck may be lower.
2024 Federal Tax Brackets
Single filers
Standard deduction: $14,600 (single), $29,200 (MFJ), $21,900 (HOH). Federal tax is calculated on income after the standard deduction.
How to Reduce Withholding
- Pre-tax 401(k) contributions — lower your taxable income dollar for dollar (up to $23,000/year in 2024)
- HSA contributions — health savings account contributions are pre-tax if made through payroll
- FSA contributions — flexible spending accounts for medical or dependent care reduce taxable income
- Update your W-4 — if your life changed (marriage, child, second job), update your W-4 with HR to reflect your actual situation
Frequently Asked Questions
Why is my actual paycheck different?
This calculator uses the standard deduction and does not account for state income tax, local taxes, 401(k) or IRA contributions, health insurance premiums, garnishments, or other deductions that vary by employer and individual situation. It's an estimate, not a guarantee.
What is FICA?
FICA stands for Federal Insurance Contributions Act. It's the law that requires employers and employees to each contribute to Social Security and Medicare. The employee portion is 7.65% total (6.2% SS + 1.45% Medicare). Your employer matches that amount. Self-employed individuals pay both sides — 15.3% — via self-employment tax.
Does filing jointly always lower taxes?
Usually, but not always. Married filing jointly often results in lower taxes when one spouse earns significantly more. When both spouses earn similar high incomes, the "marriage penalty" can push the combined income into a higher bracket faster than filing separately. Use this calculator with both filing statuses to compare.
What's the difference between effective and marginal tax rate?
Your marginal rate is the rate on your last dollar of income — the highest bracket you reach. Your effective rate is total tax divided by total income — a lower average. Only your marginal rate applies to additional earnings; your effective rate is what you actually pay overall.