Paycheck Calculator
Calculate your take-home pay after taxes and deductions
Paycheck Calculator
Understanding Paycheck Deductions
Your paycheck includes various deductions that reduce your take-home pay. Understanding these deductions helps you plan your finances better.
Common US Deductions:
- Federal Income Tax: Progressive rates 10-37%
- State Income Tax: Varies by state 0-13.3%
- Social Security: 6.2% of gross income
- Medicare: 1.45% of gross income
- Health Insurance: Employee contribution
- Retirement Savings: 401(k) contributions
- Life Insurance: Premium payments
- State Disability: Some states require
Tips to Maximize US Take-Home Pay:
- Maximize 401(k) contributions (up to $23,000 in 2024)
- Use HSA if available (triple tax advantage)
- Consider Roth IRA contributions
- Review W-4 withholdings annually
- Take advantage of employer FSA benefits