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 Examples
$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.
Guides & Articles
Protecting Your Wealth: Inflation, Salary, and Purchasing Power
A deep dive into how inflation erodes salary gains. Learn how to calculate your 'Real Wage' and adjust your financial strategy.
Gross Pay vs Net Pay: Where Does Your Money Go?
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.
The Mathematics of Debt Freedom: Strategies for 2026
Debt is a mathematical emergency. We compare the Snowball vs. Avalanche methods and analyze the true cost of carrying a balance in a high-interest environment.
Related Calculators
Compound Growth Calculator
Calculate how your investments grow over time with compound interest
FIRE Calculator
Calculate your "Financial Independence, Retire Early" number
Mortgage Calculator
Calculate monthly mortgage payments, total interest, and amortization schedule
Loan Calculator
Calculate monthly loan payments for personal loans, auto loans, and other installment loans