Paycheck Calculator
Watch your gross salary flow into federal taxes, FICA, state taxes, 401(k), and take-home pay. See your effective tax rate and what actually lands in your account each pay period.
Take-home per paycheck
$2,335
$60,714 per year — 71.4% of gross.
Effective federal rate
11.1%
Total tax rate
22.6%
Annual 401(k) saved
$5,100
- Take-home— lands in your account
- Pre-tax savings— still yours, deferred
- Taxes— gone
- Gross— every dollar you earn
Your gross pay is the trunk on the left; every channel carries its share to a labeled basin. Gold is take-home, teal is money still yours but deferred, indigo is tax. The drifting motes run at each channel's flow rate. Drag to orbit.
Show the figures as a table
| Line item | Category | Per year | Per paycheck | % of gross |
|---|---|---|---|---|
| Take-home | Take-home | $60,714 | $2,335 | 71.4% |
| 401(k) | Pre-tax savings | $5,100 | $196 | 6.0% |
| Federal tax | Taxes | $9,419 | $362 | 11.1% |
| Social Security | Taxes | $5,270 | $203 | 6.2% |
| Medicare | Taxes | $1,233 | $47 | 1.5% |
| State tax | Taxes | $3,265 | $126 | 3.8% |
| Gross pay | Total | $85,000 | $3,269 | 100.0% |
- US 2024 tax year. Federal brackets, standard deduction, Social Security wage base, and Medicare thresholds are the published 2024 figures. Update yearly when the IRS publishes new values.
- Traditional 401(k) only. The pre-tax contribution reduces federal taxable income but not Social Security or Medicare wages — elective deferrals are always subject to payroll tax, which is why Boxes 3 and 5 on your W-2 are bigger than Box 1. Roth reduces neither: swap to a Roth account and your take-home drops without the federal tax savings. An HSA contributed through your employer's cafeteria plan does escape both.
- Flat state rate. Real state tax systems have their own brackets, deductions, and quirks (some don't allow the 401(k) deduction). The flat rate here is a reasonable first-order approximation; use a state-specific calculator for exact figures.
- Contribution limits are not enforced. The 401(k) slider is a percent of gross, so a high salary can produce more than the 2024 $23,000 elective-deferral limit; the HSA field takes any figure, while 2024 caps it at $4,150 self-only / $8,300 family. The model does clamp the total to your gross pay, so the flow diagram always adds up.
- Standard deduction only — no itemizing, no above-the-line deductions beyond 401(k)/HSA, no credits (CTC, EITC, student loan interest, etc.). Credits can meaningfully lower effective rates.
- No local / city income tax (NYC, San Francisco, some Ohio municipalities). Add your local rate to the state slider as a rough proxy.
Where your paycheck really goes
Most people are surprised by how much of their gross salary doesn't make it to their bank account. Between federal taxes, FICA (Social Security and Medicare), state income tax, and pre-tax benefits like 401(k) contributions, the average worker takes home roughly 65–75% of their gross pay. Understanding this breakdown is essential for budgeting, negotiating a job offer, or figuring out how much extra to contribute to retirement.
The effective tax rate — your total taxes divided by gross income — is always lower than your marginal tax bracket because the US uses a progressive tax system. Only the income above each bracket threshold is taxed at the higher rate. Pre-tax contributions further reduce your taxable income, which is why increasing your 401(k) contribution by $200/month typically only reduces your take-home pay by $140–$160.
Why it matters to your money
Every dollar you don't take home is either a tax or a pre-tax benefit contribution. Understanding the breakdown helps you optimize: increasing pre-tax retirement contributions reduces your current taxes while building long-term wealth. Choosing between a Traditional and Roth 401(k) depends on whether you want the tax reduction now or tax-free withdrawals later. This calculator shows the exact impact of each decision on your take-home pay.
Read the full explainer on understanding paycheck deductions for a detailed breakdown of every line item on a pay stub.
Rules of thumb
- Expect to take home ~70% of gross: For most earners, the combined federal, state, and FICA taxes remove 25–35% of gross pay. Pre-tax retirement contributions reduce this further.
- Every 401(k) match is a 100% return: If your employer matches 50% up to 6% of salary, contributing 6% gives you an instant 50% return on that money — nothing else in the market offers that.
- FICA is flat but regressive: Social Security (6.2%) is capped at $168,600 of income in 2024, while Medicare (1.45%) applies to all income. Above the cap, your effective FICA rate drops.
FAQ
Frequently asked questions
- What is the difference between gross pay and net pay?
- Gross pay is your total salary before any deductions. Net pay — your take-home — is what remains after federal and state income taxes, Social Security (6.2%), Medicare (1.45%), and any pre-tax benefits like 401k contributions and health insurance premiums.
- How does increasing my 401k contribution affect my take-home pay?
- Pre-tax 401k contributions reduce your taxable income dollar for dollar, so a $200/month increase in your 401k contribution typically only reduces take-home pay by $140–$160 (depending on your tax bracket). The rest is tax savings.
- What does 'pre-tax' mean for benefits?
- Pre-tax benefits (401k, FSA, HSA, health insurance premiums) are deducted from your paycheck before income taxes are calculated. This lowers your taxable income and reduces the taxes you owe, effectively making those benefits cost less than their face value.
- How are federal income taxes calculated?
- The US uses a progressive tax system with marginal brackets. Only income above each bracket threshold is taxed at that bracket's rate — so a higher salary doesn't mean your entire income is taxed at the highest rate.