🇺🇸 Federal Paycheck Calculator

Calculate your take-home pay after federal, state & local taxes

Updated for 2024 tax year on Feb 14, 2024

What was updated? 2024 federal income tax, FICA & standard deduction
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United States federal paycheck calculation

All residents and citizens in the USA are subjected to income taxes. Residents and citizens are taxed on worldwide income (working overseas, etc.). In contrast, nonresidents are taxed only on income within the jurisdiction.

The 12-month period for income taxes begins on January 1st and ends on December 31st of the same calendar year.

The federal income tax rates differ from state income tax rates. Federal taxes are progressive (higher rates on higher income levels). At the same time, states have an advanced tax system or a flat tax rate on all income.

The income tax rate varies from state to state. Eight states are without an income tax, and one has no wage income tax.

It is also worth noting that the recent Tax Cuts and Jobs Act (TCJA) of 2017 made several significant changes to the individual income tax across the board. To understand the differences in detail, refer to this Investopedia article.

The above paycheck calculator is applicable for calculating paychecks of individuals who have an annual salary, hourly wage, or are seasonal workers or self-employed.

Calculate your paycheck in 6 steps

There are six main steps to work out your final paycheck.

Step 1 – Gross income

First, we need to determine your gross income. If you are salaried, your annual salary will be your gross income. If you are paid hourly, you must multiple the hours, days and weeks.

The following is the formula for both cases:

  • Annual salary – Annual salary = Gross income
  • Hourly wage – Hourly wage × Hours worked per day × Days worked per week × Weeks worked per year = Your weekly paycheck

Step 2 – Federal income tax liability

There are four substeps to take to work out your total federal taxes.

Step 2.1 – Gross income adjusted

The formula is:
Gross income − Pre-tax deductions = Gross income adjusted

This income is not your Adjusted Gross Income (AGI) but rather your gross income adjusted for specific pre-tax deductions relevant to FICA taxes.

Some of pre-tax contributions are:

  • 401(k) plans
  • FSA
  • HSA
  • Medical insurance
  • Life insurance

For the breakdown of the various above-the-line deductions or adjustments, refer to this article from thebalance.com.

Step 2.2 – Federal taxable income

Now, you need to figure out your federal taxable income.

The formula is:
Gross income adjusted − Federal standard/itemized deductions = Federal taxable income

You can either take the standard deduction amount or itemize your deductions. If your itemized deductions are less than the standard deduction, claim the standard amount 🙂

Some of the deductions you can itemize are:

  • Charitable donations
  • Home mortgage interest

Exemptions have been eliminated from Federal income tax since the Tax Cuts and Jobs Act (TCJA) was implemented in 2018. However, some states still have exemptions in their income tax calculation.

You might be confused with deductions and exemptions, so the following is a quote from Zacks.com:
Tax deductions are items you claim to reduce your tax liability while exemptions refer to the people you claim to reduce tax liability, such as dependents.

Step 2.3 – Federal income tax liability

This step is straightforward. You need to understand which tax bracket you belong to based on your taxable income and filing status.

The formula is:
Federal taxable income × Federal income tax rate = Federal income tax liability

Your marital status and whether you have any dependents will determine your filing status.

For example, if you are single and have a child, you should file as ‘Head of Household’. Suppose you are married but prefer to file separately from your partner (highly inadvisable). In that case, you will file as ‘Married, Filing Separately’.

Refer to IRS to understand more.

Step 2.4 – Federal payroll tax liability

There is an additional tax (surprise!) before the final step. Federal Insurance Contributions Act (FICA) is the payroll tax taken directly from your paycheck. FICA consists of Social Security and Medicare. The self-employed are taxed twice as much as regular employees.

The formula is:
Gross income × Federal payroll tax rate = Federal payroll tax liability

Step 3 – State income tax liability

Like federal tax liability, there are a few substeps to work out your state tax liability.

Step 3.1 – State taxable income

You can use the federal AGI you calculated earlier.

The formula is:
Gross income adjusted − (State standard/itemized deductions + State exemptions) = State taxable income

Step 3.2 – State income tax liability

Some states have a flat rate, some don’t have income tax and some adopt progressive income tax rates. Depending on the state, your tax bracket may be based on your filing status.

The formula is:
State taxable income × State income tax rate = State income tax liability

Step 3.3 – State payroll tax liability

State payroll taxes are mainly State Unemployment Insurance (SUI), State Disability Insurance (SDI) and Paid Family and Medical Leave (PFML)

The formula is:
Gross income × State payroll tax rate = State payroll tax liability

Step 4 – Local income tax liability

Some cities or counties impose local income tax.

The formula is:
(Gross income or State taxable income) × Local income tax rate = Local income tax liability

Step 5 – Your net pay

After calculating your total tax liability, subtract deductions (pre and post-tax) and any withholdings (if applicable).

The formula is:
Gross income − (Total income tax liability + Total payroll tax liability + Total pre-tax deductions + Total post-tax deductions + Total withholdings) = Your net pay

Step 6 – Your paycheck

For the final step, divide your net pay by your pay frequency. The following is the formula for each pay frequency:

  • Daily – Your net pay / Days worked per week / Weeks worked per year = Your daily paycheck
  • Weekly – Your net pay / 52 = Your weekly paycheck
  • Bi-weekly – Your net pay / 26 = Your bi-weekly paycheck
  • Semi-monthly – Your net pay / 24 = Your semi-monthly paycheck
  • Monthly – Your net pay / 12 = Your monthly paycheck
  • Quarterly – Your net pay / 4 = Your quarterly paycheck
  • Semi-annual – Your net pay / 2 = Your semi-annual paycheck
  • Annual – Your net pay = Your annual paycheck

For visual explanations of the above steps, refer to YouTube videos from Ladder Up, MoneyCoach, or Edspira.

Federal Insurance Contributions Act (FICA)

Also known as ‘paycheck tax’ or ‘payroll tax’, these taxes are taken from your paycheck directly. They are used to fund social Security and Medicare.

For example, in the 2020 tax year, the Social Security tax is 6.2% for employees and 1.45% for the Medicare tax.
If your monthly paycheck is $6000, $372 goes to Social Security, and $87 goes to Medicare, leaving you with $6000 − $372 − $87 = $5541

Social Security

Tax year Employment status Gross income Rate
2024 Employer Up to $168,600 6.20%
Employee 6.20%
Self-employed 12.40%
2023 Employer Up to $160,200 6.20%
Employee 6.20%
Self-employed 12.40%
2022 Employer Up to $147,000 6.20%
Employee 6.20%
Self-employed 12.40%
2021 Employer Up to $142,800 6.20%
Employee 6.20%
Self-employed 12.40%
2020 Employer Up to $137,700 6.20%
Employee 6.20%
Self-employed 12.40%

Medicare

Tax year Employment status Filing status Gross income Rate
2024
2023
2022
2021
2020
Employer Single & Head of Household Up to $200,000 1.45%
Married Jointly Up to $250,000
Married Separately Up to $125,000
Single & Head of Household $200,000 and over 2.35%
Married Jointly $250,000 and over
Married Separately $125,000 and over
Employee Single & Head of Household Up to $200,000 1.45%
Married Jointly Up to $250,000
Married Separately Up to $125,000
Single & Head of Household $200,000 and over 2.35%
Married Jointly $250,000 and over
Married Separately $125,000 and over
Self-employed Single & Head of Household Up to $200,000 2.90%
Married Jointly Up to $250,000
Married Separately Up to $125,000
Single & Head of Household $200,000 and over 3.80%
Married Jointly $250,000 and over
Married Separately $125,000 and over

Income tax brackets

Every year, IRS adjusts some tax provisions for inflation. Your federal tax bracket varies yearly, and you need to check the latest data before you do your tax return.

You can refer to Tax Foundation for the latest federal income tax brackets.

The income tax rate varies from state to state. Eight states don’t have an income tax, and one (New Hampshire) has no wage income tax.

Tax year Filing status Taxable income Rate
2024 Single $0 - $11,600 10%
$11,601 - $47,150 12%
$47,151 - $100,525 22%
$100,526 - $191,950 24%
$191,951 - $243,725 32%
$243,726 - $609,350 35%
$609,351 and over 37%
Married, Filing Jointly or Widow(er) $0 - $23,220 10%
$23,221 - $94,300 12%
$94,301 - $201,050 22%
$201,051 - $383,900 24%
$383,901 - $487,450 32%
$487,451 - $731,200 35%
$731,201 and over 37%
Married, Filing Separately $0 - $11,600 10%
$11,601 - $47,150 12%
$47,151 - $100,525 22%
$100,526 - $191,950 24%
$191,951 - $243,725 32%
$243,726 - $365,600 35%
$365,601 and over 37%
Head of Household $0 - $16,550 10%
$16,551 - $63,100 12%
$63,101 - $100,500 22%
$100,501 - $191,950 24%
$191,951 - $243,700 32%
$243,701 - $609,350 35%
$609,351 and over 37%
2023 Single $0 - $11,000 10%
$11,001 - $44,725 12%
$44,726 - $95,375 22%
$95,376 - $182,100 24%
$182,101 - $231,250 32%
$231,251 - $578,125 35%
$578,126 and over 37%
Married, Filing Jointly or Widow(er) $0 - $22,000 10%
$22,001 - $89,450 12%
$89,451 - $190,750 22%
$190,751 - $364,200 24%
$364,201 - $462,500 32%
$462,501 - $693,750 35%
$693,751 and over 37%
Married, Filing Separately $0 - $11,000 10%
$11,001 - $44,725 12%
$44,726 - $95,375 22%
$95,376 - $182,100 24%
$182,101 - $231,250 32%
$231,251 - $346,875 35%
$346,876 and over 37%
Head of Household $0 - $15,700 10%
$15,701 - $59,850 12%
$59,851 - $95,350 22%
$95,351 - $182,100 24%
$182,101 - $231,250 32%
$231,251 - $578,100 35%
$578,101 and over 37%
2022 Single $0 - $10,275 10%
$10,276 - $41,775 12%
$41,776 - $89,075 22%
$89,076 - $170,050 24%
$170,051 - $215,950 32%
$215,951 - $539,900 35%
$539,901 and over 37%
Married, Filing Jointly or Widow(er) $0 - $20,550 10%
$20,551 - $83,550 12%
$83,551 - $178,150 22%
$178,151 - $340,100 24%
$340,101 - $431,900 32%
$431,901 - $647,850 35%
$647,851 and over 37%
Married, Filing Separately $0 - $10,275 10%
$10,276 - $41,775 12%
$41,776 - $89,075 22%
$89,076 - $170,050 24%
$170,051 - $215,950 32%
$215,951 - $323,925 35%
$323,926 and over 37%
Head of Household $0 - $14,650 10%
$14,651 - $55,900 12%
$55,901 - $89,050 22%
$89,051 - $170,050 24%
$170,051 - $215,950 32%
$215,951 - $539,900 35%
$539,901 and over 37%
2021 Single $0 - $9,950 10%
$9,951 - $40,525 12%
$40,526 - $86,375 22%
$86,376 - $164,925 24%
$164,926 - $209,425 32%
$209,426 - $523,600 35%
$523,601 and over 37%
Married, Filing Jointly or Widow(er) $0 - $19,900 10%
$19,901 - $81,050 12%
$81,051 - $171,050 22%
$172,751 - $329,850 24%
$329,851 - $418,850 32%
$418,851 - $628,300 35%
$628,301 and over 37%
Married, Filing Separately $0 - $9,950 10%
$9,951 - $40,525 12%
$40,526 - $86,375 22%
$86,376 - $164,925 24%
$164,926 - $209,425 32%
$209,426 - $314,150 35%
$314,151 and over 37%
Head of Household $0 - $14,200 10%
$14,201 - $54,200 12%
$54,201 - $86,350 22%
$86,351 - $164,900 24%
$164,901 - $209,400 32%
$209,401 - $523,600 35%
$523,601 and over 37%
2020 Single $0 - $9,875 10%
$9,876 - $40,125 12%
$40,126 - $85,525 22%
$85,526 - $163,300 24%
$163,301 - $207,350 32%
$207,351 - $518,400 35%
$518,401 and over 37%
Married, Filing Jointly or Widow(er) $0 - $19,750 10%
$19,751 - $80,250 12%
$80,251 - $171,050 22%
$171,051 - $326,600 24%
$326,601 - $414,700 32%
$414,701 - $622,050 35%
$622,051 and over 37%
Married, Filing Separately $0 - $9,875 10%
$9,876 - $40,125 12%
$40,126 - $85,525 22%
$85,526 - $163,300 24%
$163,301 - $207,350 32%
$207,351 - $311,025 35%
$311,026 and over 37%
Head of Household $0 - $14,100 10%
$14,101 - $53,700 12%
$53,701 - $85,500 22%
$85,501 - $163,300 24%
$163,301 - $207,350 32%
$207,351 - $518,400 35%
$518,401 and over 37%

Standard deduction

Also known as post-tax deductions, you can take the standard deduction amount or itemize your deductions. If your itemized deductions are less than the standard deduction, claim the standard amount :-).

Some of the deductions you can itemize are:

  • Charitable donations
  • Home mortgage interest

For a list of itemizable deductions, refer to Dough Roller’s ultimate list.

Tax year Filing status Standard deduction amount
2024 Single $14,600
Married, Filing Jointly $29,200
Married, Filing Separately $14,600
Head of Household $21,900
2023 Single $13,850
Married, Filing Jointly $27,700
Married, Filing Separately $13,850
Head of Household $20,800
2022 Single $12,950
Married, Filing Jointly $25,900
Married, Filing Separately $12,950
Head of Household $19,400
2021 Single $12,550
Married, Filing Jointly $25,100
Married, Filing Separately $12,550
Head of Household $18,800
2020 Single $12,200
Married, Filing Jointly $24,400
Married, Filing Separately $12,200
Head of Household $18,350

FAQs

How do I figure out how much my paycheck will be?

  1. Determine your gross income
  2. Work out your total federal income tax
  3. Calculate your total state income tax
  4. Derive your local income tax liability
  5. Figure out your net pay
  6. Get your paycheck numbers

How much is a paycheck on a 40000 salary?

You will receive $2,843.67 monthly after federal tax liability for a single filer. The monthly paycheck is $2,988.33 after federal tax liability for married filed jointly with no dependent

How much is a 75k paycheck?

Paycheck after federal tax liability for a single filer:

  • Monthly - $5,076.79
  • Bi-weekly - $2,343.13
  • Weekly - $1,171.57

How much taxes will get deducted from a $75,000 paycheck?

The federal taxes deducted for a single filer are $695.08 monthly or $320.81 bi-weekly. For married filed jointly with no dependent, the total monthly federal taxes deducted is $419.30 or $193.52 bi-weekly.

How do you calculate payroll for self-employed?

Self-employed individuals earning up to $200,000 are subject to a combined Social Security and Medicare tax rate of 15.3%. In comparison, those earning over $200,000 are subject to a combined rate of 16.2%.