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Knowing your salary after tax or take home pay can give you a clearer picture of your actual earnings, helping you plan your expenses, savings, and investments better. Our paycheck calculator is designed to provide accurate breakdowns, giving you insights into how much of your earnings go to federal, state, and FICA taxes.
Use SmartAsset's paycheck calculator to calculate your take home pay per paycheck for both salary and hourly jobs after taking into account federal, state and local taxes.
- Federal Insurance Contributions Act
- Income Tax Brackets
- Standard Deduction
Also known as ‘paycheck tax’ or ‘payroll tax’, these taxes are taken from your paycheck directly. They are used to fund social Security and Medicare. For example, in the 2020 tax year, the Social Security tax is 6.2% for employees and 1.45% for the Medicare tax. If your monthly paycheck is $6000, $372 goes to Social Security, and $87 goes to Medica...
Every year, IRS adjusts some tax provisions for inflation. Your federal tax bracket varies yearly, and you need to check the latest data before you do your tax return. You can refer to Tax Foundationfor the latest federal income tax brackets. The income tax rate varies from state to state. Eight states don’t have an income tax, and one (New Hampshi...
Also known as post-tax deductions, you can take the standard deduction amount or itemize your deductions. If your itemized deductions are less than the standard deduction, claim the standard amount :-). Some of the deductions you can itemize are: 1. Charitable donations 2. Home mortgage interest For a list of itemizable deductions, refer to Dough R...
How much are your employees’ wages after taxes? This powerful tool does all the gross-to-net calculations to estimate take-home pay in all 50 states. For more information, see our salary paycheck calculator guide. Looking for managed Payroll and benefits for your business? Get a free quote
- A paycheck is how businesses compensate employees for their work. The most common delivery schedules are bi-weekly and semi-monthly, though this va...
- Although paychecks and pay stubs are generally provided together, they are not one in the same. A paycheck is a directive to a financial institutio...
- Pay stubs generally show how an employee’s income for a particular pay period was derived, along with line items of the taxes withheld, voluntary d...
- Pay stubs are used to verify payment accuracy and may be necessary when settling wage/hour disputes. For this reason, employees may want to save th...
- The course of action depends on the reason for the missed or late paycheck. Honest mistakes can usually be addressed by contacting the employer’s H...
- Employers typically have two basic options for creating paychecks Order check stock from an office supply store or the bank that has the business p...
An hourly calculator lets you enter the hours you worked and amount earned per hour and calculate your net pay (paycheck amount after taxes). You will see what federal and state taxes were deducted based on the information entered.
Use our free paycheck calculators, net to gross and bonus calculators, Form W-4 and state withholding forms, 401k savings and retirement calculator, and other specialty payroll calculators for all your paycheck and payroll needs. To calculate employer taxes use PaycheckCity Payroll. Unlimited companies, employees, and payroll runs for 1 low price.
People also ask
What is an hourly pay calculator?
How do I calculate a salary paycheck?
Where can I find a paycheck calculator?
How is take home pay calculated?
Hourly Paycheck Calculator. How to Calculate Hourly Pay. Estimate the after-tax pay for hourly employees by entering the following information into a hourly paycheck calculator: Hourly rate. Gross pay and pay frequency. Filing status. Allowances and withholding information. Voluntary deductions.
