Question 1

How is take-home pay calculated?

Accepted Answer

Take-home pay (net pay) is your gross salary minus all deductions: federal income tax, state income tax, Social Security (6.2%), Medicare (1.45%), and any additional Medicare tax. This tool estimates each deduction using 2024 US tax brackets.

Question 2

What is the Social Security tax rate?

Accepted Answer

The Social Security tax rate is 6.2% on wages up to an annual wage cap ($168,600 in 2024). Medicare is an additional 1.45% on all wages, with an extra 0.9% on earnings over $200,000 (single) or $250,000 (married).

Question 3

Is this calculator accurate for my state?

Accepted Answer

The state tax is a flat percentage you enter. Real state taxes use brackets, deductions and credits that vary. For a precise figure, use your state's official tax tables or a payroll provider. This tool gives a close estimate for budgeting.

Question 4

Does this include 401(k) or benefits?

Accepted Answer

You can enter a 401(k) contribution percentage and it is deducted pre-tax from your gross pay before income tax is calculated. Health premiums and other benefits are not included — subtract them yourself for an exact net.