Take-Home Pay Calculator

Instantly estimate your net take-home pay from your gross salary. Our calculator accounts for federal and state taxes, FICA, and common deductions like 401(k) and health insurance. A vital tool for US employees, freelancers, and employers for accurate financial planning. Explore more tools on free calculators on CalculatorBolt.

Calculate Your Take-Home Pay

Total earnings before deductions
Filing Status

Pre-Tax Deductions

Post-Tax Deductions

Additional Deductions

How It Works

The calculator first reduces your gross salary by any pre-tax deductions, like 401(k) contributions, to find your taxable income. It then applies estimated federal, state, and FICA taxes based on your filing status and location. Finally, it subtracts any post-tax deductions to give you your final take-home pay.

Inputs Explained

  • Gross Salary & Pay Frequency: Your total earnings before any deductions. Select how often you are paid to see the results in a familiar format.
  • Filing Status: This significantly impacts your federal tax brackets and standard deduction. Choose the one you use on your tax return.
  • State: State income tax rates vary widely. Select your state for an accurate estimate.
  • Deductions: Enter your contributions to retirement plans and premiums for health insurance to see how they lower your taxable income and increase your take-home pay.

Example

An employee in California earning $75,000 annually, filing as 'Single', and contributing 5% to a 401(k) might see their gross monthly pay of $6,250 reduced to a take-home pay of approximately $4,850 after all taxes and deductions are applied.

Tips & Notes

  • The state tax calculation is a simplified estimate. Real state taxes can involve complex brackets and deductions.
  • Contributing to a pre-tax 401(k) or HSA is an effective way to lower your taxable income.
  • This calculator does not account for local city taxes, which may apply in some areas.

FAQs

Gross pay is your total earnings before any deductions. Net pay (take-home pay) is what you actually receive after federal taxes, state taxes, FICA, and other deductions.

FICA stands for Federal Insurance Contributions Act. It includes Social Security tax (6.2% up to $168,600 in 2024) and Medicare tax (1.45% on all income, plus 0.9% additional Medicare tax on income over $200,000).

401(k) contributions are pre-tax deductions, meaning they reduce your taxable income. While they lower your take-home pay, they also lower your tax bill, often resulting in significant tax savings.

This calculator uses simplified tax models. Your actual pay may differ due to local taxes, tax credits, additional deductions, or other factors specific to your situation.

The standard deduction is a fixed dollar amount that reduces your taxable income. For 2024, it's $14,600 for single filers and $29,200 for married filing jointly.

Disclaimer

Important: This calculator provides an estimate for informational purposes only. It uses simplified tax models and may not reflect your specific circumstances, including all deductions, credits, or local taxes. Tax laws are subject to change. For accurate financial planning, consult with a qualified tax professional or use official payroll software.

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Author: CalculatorBolt Editorial Team
Reviewed by: CPA / Tax Advisor
Published: • Updated: