Salary Calculator (Paycheck Estimator)
Calculate your take-home pay (net income) from your gross annual salary. Includes Federal, State, and FICA tax estimates.
Knowing your actual take-home pay is essential for budgeting. This calculator converts between hourly and annual wages and estimates your net income after taxes (Federal, State, and FICA).
Calculator Inputs
Effective federal income tax rate
Average state income tax rate
Results
Enter values above to see your results
How It Works
Enter your gross pay and estimated tax rates. We calculate the breakdown for different pay periods (weekly, bi-weekly, monthly, annually) and deduct estimated taxes.
Worked example
$60k Salary Example
$60,000 / 12= $5,000 / mo12% est.= -$6004.5% est.= -$2257.65%= -$382.50Net Pay= $3,792.50 / moTips & Best Practices
- •FICA Tax (Social Security + Medicare) is a flat 7.65% for most earners.
- •Your effective federal rate is usually lower than your marginal bracket.
- •Don't forget deductions like health insurance and 401k contributions reduce your take-home pay further.
Frequently Asked Questions
How many work hours in a year?
A standard full-time schedule is 40 hours per week for 52 weeks, totaling 2,080 hours per year.
What is FICA?
FICA stands for Federal Insurance Contributions Act. It includes Social Security (6.2%) and Medicare (1.45%) taxes.
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Why is your paycheck smaller than your salary? Learn the difference between gross and net pay, and understand the taxes and deductions that reduce your take-home amount.
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