How the Take-Home Pay Calculator Works
Your paycheck goes through two main deductions before it hits your bank account: FICA taxes and federal income tax withholding. FICA is split into Social Security (6.2% on wages up to the annual wage base, $168,600 in 2024) and Medicare (1.45%, with no cap, plus an extra 0.9% on earnings above $200,000). Federal income tax is calculated on your taxable income — annual salary minus the standard deduction ($14,600 for a single filer in 2024) — run through the 2024 progressive tax brackets from 10% up to 37%.
This calculator annualizes your monthly salary, applies FICA taxes, subtracts the standard deduction, runs the result through the federal bracket schedule, and divides everything back down to a monthly figure. It assumes a single filer taking the standard deduction with no other pre-tax deductions like a 401(k) or health insurance premium — those would lower your taxable income further and increase your actual take-home pay compared to this estimate.
State income tax is deliberately left out because it varies enormously: states like Texas, Florida, and Washington charge none, while California and New York can take over 10% on top of federal tax. If you live in a state with income tax, subtract your state's estimated withholding from the result here to get closer to your real paycheck.
Frequently Asked Questions
FICA combines 6.2% Social Security tax (on wages up to the annual wage base, $168,600 in 2024) and 1.45% Medicare tax (no wage cap, plus an extra 0.9% on income above $200,000 for single filers).
No. State income tax rates vary widely — some states like Texas and Florida have none, while others charge over 10% — so this calculator only estimates federal tax and FICA. Your actual take-home pay may be lower if your state taxes income.