Paycheck Calculator
Estimate take-home pay after federal tax, Social Security, and Medicare.
Calculator
Net (take-home) pay
$3,518.5
Federal tax
$564
State tax
$235
Social Security
$310
Medicare
$72.5
Effective tax rate
23.63%
What is paycheck?
This paycheck calculator estimates your take-home pay by subtracting federal income tax, Social Security (6.2%), and Medicare (1.45%) from gross pay.
Example
A $5,000 monthly gross paycheck nets about $4,050 after $500 federal tax, $310 Social Security, and $72.50 Medicare.
Money-saving tips
- •Adjust your W-4 withholding if you get large refunds or owe at tax time.
- •State and local taxes also reduce take-home pay — factor those in.
- •Pre-tax deductions like 401(k) and health insurance lower taxable income.
Common mistakes
- •Forgetting that bonuses are taxed at a higher supplemental rate.
Financial definitions
- Net pay
- Take-home pay after all taxes and deductions.
- FICA
- The combined Social Security and Medicare payroll tax.
Frequently asked questions
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Estimated reading time: 5 min