What is a Paycheck Calculator?
A paycheck calculator is a financial tool that estimates your net take-home pay by subtracting federal taxes, state taxes, FICA (Social Security and Medicare), and voluntary deductions from your gross salary. It helps employees understand their actual budget based on their specific filing status and location.
By modeling various scenarios—such as increasing your 401(k) contribution or changing your filing status—you can see exactly how much your paycheck will change before making HR updates.
How to Estimate Your Net Pay
Follow these steps to get an accurate breakdown of your earnings:
- 1Input Your Gross SalaryEnter your annual base pay or your hourly wage along with your expected hours worked per week.
- 2Set Your Tax ProfileSelect your federal filing status (Single, Married, etc.) and your state of residence to calculate local income tax withholdings.
- 3Add Pre-Tax DeductionsInclude your 401(k) percentage, health insurance premiums, and HSA/FSA contributions to see how they lower your taxable income.
- 4Review the BreakdownView your net pay across different pay periods (weekly, bi-weekly, or monthly) and see a visual chart of where your money goes.
Frequently Asked Questions
How do I calculate my take-home pay?
Take-home pay is your gross salary minus federal income tax, state income tax, FICA taxes (Social Security at 6.2% and Medicare at 1.45%), and any pre-tax deductions like 401(k) contributions and health insurance premiums. For a $75,000 salary in a state with no income tax, your approximate take-home is about $58,000 per year or $2,231 biweekly.
What is FICA tax?
FICA stands for the Federal Insurance Contributions Act and includes two taxes: Social Security tax (6.2% on income up to $184,500 in 2026) and Medicare tax (1.45% on all income, plus an additional 0.9% on income above $200,000). Combined, most employees pay 7.65% of their gross pay in FICA taxes. Your employer matches this amount.
How much is my biweekly paycheck on a $60,000 salary?
On a $60,000 annual salary, your gross biweekly pay is $2,307.69. After federal tax, FICA (7.65%), and typical deductions, your net biweekly paycheck is approximately $1,750-$1,900 depending on your state, filing status, and pre-tax deductions like 401(k) and health insurance.
Payroll Facts
FICA Combined
7.65% (SS + Med)
SS Wage Base
$184,500 (2026)
State Taxes
9 States Have $0 Tax