Paycheck Calculator
Estimate your take-home pay per paycheck after taxes, FICA and retirement contributions.
This is an estimate for general information only and is not financial, tax or investment advice. Figures may differ from a lender or advisor.
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It subtracts pre-tax retirement contributions, FICA payroll taxes, and estimated income tax from your gross pay. The result is your net annual pay and your take-home amount per paycheck, so you can see the real effect of a raise, a new job or a change in your 401(k) contribution.
How to use it
- 1Enter your gross annual salary before any deductions.
- 2Choose how often you are paid — weekly, biweekly, semi-monthly or monthly.
- 3Set your retirement contribution as a percentage of gross pay.
- 4Enter an estimated combined federal and state income tax rate to see your take-home pay.
Frequently asked questions
What is FICA and how much is it?+
FICA is the payroll tax that funds Social Security and Medicare. It totals 7.65% of gross pay — 6.2% for Social Security and 1.45% for Medicare — and is applied here to your full salary.
How is take-home pay calculated?+
Retirement contributions and FICA are subtracted from gross pay, income tax is applied to the amount after retirement contributions, and the remainder is divided by the number of pay periods in the year.
Is this an exact figure?+
No, it is an estimate. Actual paychecks depend on your specific tax withholding, benefits, local taxes and other deductions, so treat the result as a close approximation rather than an exact net pay.
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