Paycheck Calculator
Calculate your take-home pay after federal taxes with this simple calculator!
This calculator uses 2022 tax brackets and includes federal income tax, Social Security, and Medicare deductions.
$0.00
Breakdown
Gross Pay
$0.00
Taxes and deductions
Federal Income Tax
-$0.00
Social Security (6.2%)
-$0.00
Medicare (1.45%)
-$0.00
Net Pay:
$0.00
Understanding Your Paycheck and Taxes
Your paycheck consists of your gross pay minus various deductions, resulting in your net pay (take-home pay). This calculator helps you estimate your net pay after federal taxes.
What's Included in This Calculator:
- ✔️Federal income tax based on 2022 tax brackets
- ✔️Social Security tax (6.2% up to $147,000)
- ✔️Medicare tax (1.45% on all earnings)
- ✔️Standard deduction based on filing status
What's Not Included:
- ❌State and local income taxes
- ❌401(k) or other retirement contributions
- ❌Health insurance premiums
- ❌Other voluntary deductions
Federal Income Tax Withholding
Federal income tax is calculated using a progressive tax system with different tax brackets. The standard deduction ($12,950 for single filers and $25,900 for married filing jointly in 2022) is subtracted from your gross income before calculating the tax.
FICA Taxes
FICA (Federal Insurance Contributions Act) taxes fund Social Security and Medicare programs:
- Social Security tax: 6.2% on earnings up to $147,000 (2022)
- Medicare tax: 1.45% on all earnings
Your employer matches these contributions, paying an additional 6.2% for Social Security and 1.45% for Medicare.