Take-Home Pay Calculator
Calculate your actual take-home pay after taxes, deductions, and other withholdings.
This free take-home pay calculator helps you understand how much money you'll actually receive in your paycheck after federal taxes, state taxes, FICA, and other deductions. No accounts, no sign-ups — your data stays private.
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We're building this calculator to help you understand your take-home pay. In the meantime, use our monthly budget calculator to track your spending and plan your finances.
What is Take-Home Pay?
Take-home pay, also known as net pay, is the amount of money you actually receive in your paycheck after all deductions are taken out. This is different from your gross pay, which is your total salary or hourly wage before any deductions.
Common deductions that reduce your take-home pay include:
- Federal income tax: Withheld based on your tax bracket and the information you provide on your W-4 form
- State income tax: Varies by state, and some states don't have state income tax
- FICA taxes: Social Security (6.2%) and Medicare (1.45%) taxes, totaling 7.65% of your gross pay
- Health insurance premiums: If you have employer-sponsored health insurance
- Retirement contributions: Such as 401(k) or 403(b) contributions
- Other deductions: Life insurance, disability insurance, flexible spending accounts, and more
Understanding your take-home pay is essential for budgeting because it shows you the actual amount of money you have available to spend and save each month. Use our monthly budget calculator to plan your expenses based on your actual take-home pay, or explore our guide on how to start budgeting to get organized.
Understanding Tax Withholdings
Your employer withholds taxes from each paycheck based on the information you provide on your W-4 form. The IRS W-4 form determines how much federal income tax is withheld. You can adjust your withholdings by submitting a new W-4 to your employer at any time.
FICA taxes (Social Security and Medicare) are calculated as a percentage of your gross pay:
- Social Security tax: 6.2% on earnings up to the wage base limit (set annually by the Social Security Administration)
- Medicare tax: 1.45% on all earnings, plus an additional 0.9% on earnings above $200,000 for high earners
For more detailed information about federal tax brackets and rates, visit the IRS website. State tax rates vary by location, so check with your state's tax authority for specific information.
Pre-Tax vs. Post-Tax Deductions
Understanding the difference between pre-tax and post-tax deductions can help you make better financial decisions:
Pre-Tax Deductions
These deductions reduce your taxable income, which can lower your tax bill:
- 401(k) or 403(b) retirement contributions
- Health Savings Account (HSA) contributions
- Flexible Spending Account (FSA) contributions
- Pre-tax health insurance premiums
Post-Tax Deductions
These deductions are taken after taxes are calculated:
- Post-tax health, dental, or vision insurance premiums
- Life insurance premiums
- Disability insurance
- Roth 401(k) or Roth IRA contributions (if made through payroll)
Maximizing pre-tax deductions can reduce your taxable income and increase your take-home pay efficiency. Consider using our 50/30/20 budget calculator to see how your take-home pay should be allocated across needs, wants, and savings.
Next Steps
Once you understand your take-home pay, you can:
- Create a budget using our monthly budget calculator
- Learn about tracking your spending to understand where your money goes
- Explore the 50/30/20 budgeting rule as a simple framework for managing your finances
- Read our guide on common budget mistakes to avoid pitfalls