MCPCalc

Paycheck Calculator

Calculate take-home pay after federal taxes, FICA, and deductions.

Scratchpad (not saved)

$

Your gross annual salary

How often you get paid

$

Additional federal tax withholding per paycheck (0 for auto estimate)

$

401(k), HSA, health insurance premiums, etc.

%

Your state income tax rate (0 for no state tax)

What This Calculator Does

Estimate take-home pay by applying tax and deduction assumptions to gross compensation across common pay frequencies.

It combines Gross Annual Salary, Pay Frequency, Filing Status, Federal Tax Withheld (per check) to estimate Take-Home Pay (per check), Gross Pay (per check), Federal Tax.

Formula & Method

Core equations: FICA taxes include Social Security at 6.2% (up to \168,600) and Medicare at 1.45%:FICA = \min(G, 168600) \times 0.062 + G \times 0.0145Federal income tax is computed using progressive 2024 brackets. Take-home pay is:\text{Net} = G - T_{fed} - FICA - T_{state} - D_{pretax}$ Inputs are applied in base units, then derived metrics are computed from the same equations and rounded for display.

Notation used in the formulas: R = Take-Home Pay (per check); x_{1} = Gross Annual Salary; x_{2} = Pay Frequency; x_{3} = Filing Status; x_{4} = Federal Tax Withheld (per check); x_{5} = Pre-Tax Deductions (Annual); x_{6} = State Tax Rate.

Method summary: inputs are normalized to consistent units, core equations are evaluated, then secondary values are derived and rounded for display.

Use this for salary negotiation, budgeting, and understanding how benefit elections affect net pay.

Inputs Used

  • Gross Annual Salary: Your gross annual salary
  • Pay Frequency: How often you get paid
  • Filing Status: Used directly in the calculation.
  • Federal Tax Withheld (per check): Additional federal tax withholding per paycheck (0 for auto estimate)
  • Pre-Tax Deductions (Annual): 401(k), HSA, health insurance premiums, etc.
  • State Tax Rate: Your state income tax rate (0 for no state tax)

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