Salary Calculator
Take-home paycheck estimator.
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About the Salary Calculator
Take-home paycheck estimator.
Gross vs. Net Pay: What's the Difference?
When you receive a job offer, the number they quote is almost always your Gross Pay. However, the amount that hits your bank account—your Net Pay—is often significantly lower. Our Salary Paycheck Calculator helps you estimate your actual take-home pay after all withholdings.
Common Paycheck Deductions
Where does the money go? Common deductions include:
- Federal Income Tax: Progressive tax based on your income bracket.
- FICA (Social Security & Medicare): A flat percentage mandated by law to fund social programs.
- State & Local Taxes: Varies wildly depending on where you live. (e.g., Texas and Florida have 0% state income tax).
- Benefits: Health insurance premiums, 401(k) contributions, and HSA funding.
Planning Your Budget
Never budget based on your gross salary. Always use your estimated net pay. A rule of thumb is the 50/30/20 Rule:
- 50% Needs: Rent, groceries, utilities.
- 30% Wants: Dining out, hobbies, entertainment.
- 20% Savings: Retirement, debt repayment, emergency fund.