Finance & Money
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Paycheck Calculator
Calculate your net pay from hourly or salary income with federal tax estimates.
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Gross Pay
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Est. Federal Tax
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FICA (SS+Medicare)
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Est. Net Pay
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Estimates only. State taxes, 401k, health insurance not included. Consult a payroll professional.
Frequently Asked Questions
Federal income tax is withheld based on your W-4 filing status and the IRS tax brackets. The US uses a progressive system, meaning different portions of your income are taxed at different rates (10%, 12%, 22%, etc.). This calculator uses the 2024 federal tax brackets to estimate withholding.
FICA stands for Federal Insurance Contributions Act. It covers Social Security (6.2% of wages up to $168,600 in 2024) and Medicare (1.45% of all wages). Together, FICA deductions total 7.65% of your gross pay. Your employer matches this amount.