This paycheck calculator estimates your take-home pay after federal income tax, FICA (Social Security and Medicare) and state income tax deductions. Results are estimates based on 2024 tax brackets and standard deductions — consult a tax professional for exact figures.
Frequently Asked Questions
What is FICA tax?
FICA (Federal Insurance Contributions Act) consists of Social Security tax (6.2% up to the wage base of $168,600 in 2024) and Medicare tax (1.45% on all wages). Your employer matches these amounts.
What is the standard deduction for 2024?
For 2024: Single filers get $14,600; Married filing jointly get $29,200; Head of Household gets $21,900. These are subtracted from gross income before calculating federal tax.
What states have no income tax?
Alaska, Florida, Nevada, New Hampshire (wages only), South Dakota, Tennessee (wages only), Texas, Washington and Wyoming have no state income tax on wages. Enter 0% for the state tax field if you live in one of these states.