Understanding your paycheck breakdown is essential for personal financial planning. This payroll calculator shows you the full breakdown of gross pay minus FICA (Social Security + Medicare), federal and state income taxes, and any pre-tax deductions like 401(k) contributions or health insurance.
Net Pay:
Total Deductions:
How to Use This Tool
Enter your gross pay amount per paycheck.
Enter your pay frequency (26 = bi-weekly, 24 = semi-monthly, 12 = monthly, 52 = weekly).
Select your filing status (1 = Single, 2 = Married Filing Jointly).
Enter your state tax rate (0 for states with no income tax).
Enter any pre-tax deductions (401k, health insurance premiums).
Click Calculate to see your net pay and full tax breakdown.
The Formula
Net pay = Gross Pay - FICA (6.2% Social Security + 1.45% Medicare) - Federal Tax - State Tax - Pre-Tax Deductions. Federal tax uses the 2024 IRS brackets with progressive rates from 10% to 35%.
Why It Matters
You are hiring your first employee with a $65,000 salary. Factoring in employer payroll taxes (FICA, Medicare, unemployment) at ~7.65%, the total cost is $70,000 — $5,000 more than the salary.