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Take-Home Paycheck Calculator
Estimate your take-home pay from gross income after federal tax, state tax and retirement contributions.
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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
Why is my actual paycheck different?
Withholding depends on your W-4, benefits, payroll taxes and pay period, so real numbers differ from a simple estimate.
Why is my paycheck smaller than expected?
Income tax, social insurance and benefit deductions are taken out of gross pay before you receive it.
What are pre-tax deductions?
Amounts such as certain retirement or health contributions that are taken before tax, which lowers your taxable income.