Paycheck Calculator
Use our free Paycheck Calculator to plan your taxes & salary strategy. Get detailed breakdowns, charts, and actionable insights.
Reviewed by Sahil, Senior Finance & Tax Editor
Formula
Net Pay = Gross − Federal Tax (2024 brackets) − State Tax (user-entered %) − Social Security (6.2% up to $168,600/yr) − Medicare (1.45%) − Pre-Tax Deductions
Federal tax uses 2024 progressive brackets (10/12/22/24/32/35/37%). FICA is 7.65% (6.2% Social Security on first $168,600 + 1.45% Medicare). Standard deduction reduces taxable income before brackets apply. Pre-tax deductions (401k, HSA, FSA, health insurance) further lower federal and state taxable income.
Worked Examples
Example 1: Biweekly $3,000 gross
Problem:$3,000 biweekly, single, 1 allowance, 5% state
Solution:Annual: $78,000. After standard deduction ($14,600) and allowance ($4,300), taxable = $59,100. Federal ≈ $8,148/yr = $313.38/period. FICA ≈ $229.50. State ≈ $150.
Result:Net ≈ $2,307.12 per paycheck
Example 2: $50,000 salary, single filer, biweekly
Problem:$50,000/yr salary, single, 0 pre-tax deductions, 5% state tax, paid biweekly (26 periods)
Solution:Gross per period: $50,000 ÷ 26 = $1,923.08. Taxable annual after standard deduction: $50,000 − $14,600 = $35,400. Federal tax: 10% × $11,600 + 12% × $23,800 = $1,160 + $2,856 = $4,016/yr = $154.46/period. SS: $1,923.08 × 6.2% = $119.23. Medicare: $1,923.08 × 1.45% = $27.88. State: $1,923.08 × 5% = $96.15.
Result:Net ≈ $1,525.36 per paycheck (~$1,471 after rounding)
Example 3: $85,000 salary, married filing jointly, biweekly
Problem:$85,000/yr salary, married filing jointly, 0 pre-tax deductions, 5% state tax, paid biweekly (26 periods)
Solution:Gross per period: $85,000 ÷ 26 = $3,269.23. Taxable annual after standard deduction: $85,000 − $29,200 = $55,800. Federal tax: 10% × $23,200 + 12% × $32,600 = $2,320 + $3,912 = $6,232/yr = $239.69/period. SS: $3,269.23 × 6.2% = $202.69. Medicare: $3,269.23 × 1.45% = $47.40. State: $3,269.23 × 5% = $163.46.
Result:Net ≈ $2,615.99 per paycheck (~$2,589 net after standard rounding)
Reviewed by Sahil, Senior Finance & Tax Editor · Editorial policy