Paycheck calculator

Federal income tax and FICA (Social Security and Medicare). It does not include state or local income tax, which vary by location, or benefits like health insurance premiums beyond what you enter as a pre-tax deduction.

Pre-tax deductions like traditional 401(k) contributions or health insurance premiums are subtracted before federal income tax is calculated, lowering your taxable income. They also reduce your take-home pay by the deducted amount, since that money never reaches your paycheck.

Social Security tax (6.2%) only applies up to an annual wage base set by the IRS each year. Medicare tax (1.45%) has no cap, and an extra 0.9% applies once wages pass $200,000 (higher for some joint filers).