Your gross income is not what you take home. Taxes, deductions, and insurance premiums reduce your actual income. This calculator gives you your true net income — what you actually earn after everything is taken out. Use it for budgeting, loan applications, or financial planning.
Annual Net Income:
Hourly Take-Home:
How to Use This Tool
Enter your annual gross income (before any deductions).
Select your filing status (1 = Single, 2 = Married Filing Jointly).
Enter your state income tax rate.
Enter annual pre-tax deductions (401k, health insurance).
Enter annual post-tax deductions (child support, garnishments).
Click Calculate to see your net income and hourly take-home pay.
The Formula
Net Income = Gross Income - FICA (7.65%) - Federal Tax - State Tax - Pre-Tax Deductions - Post-Tax Deductions. Federal tax uses 2024 progressive brackets. Hourly pay = Net Income / 2080 (standard work hours per year).
Why It Matters
Your business earned $250,000 in revenue. After $80,000 in operating expenses, $30,000 interest, and $42,500 taxes, your net income is $97,500 — a 39% net margin. Track what truly stays in your pocket.