Free Calculators to Figure Out Paycheck Tax Deductions

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If you’ve ever had a job before, you know that your gross pay is significantly more than your net pay, the number you deposit in your bank account. So, how can you figure out how much money you'll take home when you get paid? What will you net after taxes and other deductions are taken out of your paycheck?

Paycheck and Salary Calculators

A paycheck calculator lets you know how much money will be in every check that you receive from your employer, and they are available online for free.

Salary calculators can help you determine how much you could be earning, and how much a job offer is worth and how far your paycheck will go in a specific location, based on the cost of living in that area.

FICA: Federal Insurance Coverage Act

Each paycheck will include a deduction for FICA, which goes to cover the Social Security and Medicare programs. But that's not all: Typically, your check will also have deductions for local, state, and federal taxes.

To avoid the surprise factor, and to know your take-home wages or salary even before the first check is received, use a paycheck calculator to figure out the exact amount.

What is a Paycheck Calculator?

A paycheck calculator lets you know what amount of money will be reserved for taxes, and what amount you will actually receive. Generally, paycheck calculators will show the take-home salary for salaried and hourly workers; they can also help calculate the amount of overtime pay will be paid out directly in your check.

To get the most accurate estimate, look at your pay stub, paying attention to withholdings for federal, state, and local taxes, FICA deductions for Social Security and Medicare, and any other deductions for health insurance, retirement, and flex spending accounts.

Why Use a Paycheck Calculator

Use one of the calculators listed below to estimate how much money will be in your pay. Paycheck calculators can also be helpful even before you've accepted a job offer, or when you're offered a raise.

What may seem like a large salary or a reasonable hourly rate, may seem different when you use a paycheck calculator and see the amount that you receive.

Paycheck calculators can also help determine if you are deducting the correct amount of money from your check for taxes:

  • If you deduct too little, you will need to pay back the amount you underpaid throughout the year at tax time.
  • If you deduct too much, you'll receive money back at tax time—while unexpected money is always nice, having the money throughout the year may be more beneficial.

Learn how to fill out a W4 form before you begin a new job, so you can make sure the correct amount of money is deducted from each paycheck.

There are paycheck calculators to help you determine how much your paycheck will be after deductions and to help you decide how much you should have deducted to cover taxes.

Paycheck Calculators to Estimate your Pay

Here are some calculators that will help you analyze your paycheck and determine your take-home salary.

ADP Salary Payroll Calculator
Add your state, federal, state, and voluntary deductions to determine your net pay.

Neuvoo Salary and Tax Calculator
Select your location and add a salary amount to find out how much federal and state taxes will be deducted from your paycheck.

PaycheckCity.com Paycheck Calculator
Here, you'll find free hourly and salary paycheck calculators.

SmartAsset Paycheck Calculator
Calculate your take home pay per paycheck for both salary and hourly jobs after taking into account federal, state, and local taxes.

IRS Withholding Calculator
Use the IRS Withholding calculator to ensure that you do not have too much or too little income tax withheld from their pay.

Overtime Calculator
Use this Overtime Calculator from the United States Department of Labor to help you figure out if you're eligible for overtime pay and to calculate how much overtime you will receive for a sample pay period.

Salary Calculators

Interested to see how your salary offer compares? These salary calculators and surveys will help you find out salary information for your current job as well as positions you're interested in.

Glassdoor.com’s Know Your Worth Tool
Glassdoor's Know Your Worth tool provides a free, personalized salary estimate based on the current job market. Salary estimates are based on users’ title, company, location, and experience. The tool also provides tips on how to increase pay.

Indeed Salary Search
Search salaries from millions of job postings with this free tool, which offers one-stop shopping for job search and salary comparison. Look up salaries by job title or employer and see how your pay compares.

LinkedIn Salary
LinkedIn’s salary calculator provides median salary for job titles in specific locations throughout the U.S. Free for LinkedIn users who anonymously contribute their salary, the tool shows base pay plus equity and bonuses, and customizes information based on skills, education, industry, company size and more.

PayScale.com’s Salary Survey
Take PayScale’s Salary Survey and generate a free salary report with a salary range based on your job title, location, education, experience, skills, and more. Evaluate a job offer or compare your salary with that of your peers.

Quartz at Work Career Calculator
With this calculator, you can get information on how much a job offer is worth. Enter the salary, stock options, 401(k), and company perks to get an estimate of the total value of the job offer.

Salary.com
Free salary reports covering virtually every occupation, as well as information on salary, benefits, negotiation, and human resources issues for U.S. and Canadian markets. Salary negotiation tips, small business solutions, and cost of living comparisons are also available.

When You'll Get Paid

When you receive your paycheck depends on the timing of the company's payroll. Employees typically receive a paycheck either weekly or every other week. Receiving a paycheck monthly is less common.

Compensation is typically paid via check or direct deposit directly into the employee's checking account.

When you're hired, you should be notified about payroll timing and options for getting paid. Starting a new job—or leaving your current position sometime soon? You might not receive your check at the regularly expected time.

Depending on the payroll cycle, company policy, and state law, your pay may lag. For example, when you’re starting a new job, it’s not uncommon to receive your first paycheck a week or two after the usual time.

And, when you leave a job, you may receive your check on the last day you’ve worked or on the last regular pay date for the pay period. There are no federal laws mandating exactly when the last check must be issued, although some states specify that you must be paid immediately. In any case, you must be paid for the time you’ve worked.  

Article Sources

  1. SocialSecurity.gov. "What is FICA?" Accessed June 12, 2020.

  2. U.S. Department of Labor. "Last Paycheck." Accessed June 12, 2020.