Understanding the take-home-paycheck calculator
Gross salary and take-home pay are very different numbers. Between them sit federal income tax, the Social Security tax (6.2% up to an annual wage cap) and Medicare tax (1.45% on all wages), and in most states a state income tax. Pre-tax 401(k) contributions come out before federal and state tax is figured, which lowers both your taxable income and your paycheck.
This estimate applies 2024 federal brackets and the standard deduction, a flat state rate you supply, and the standard payroll taxes. It doesn't model local taxes, health-insurance premiums, or additional withholdings, so your actual paycheck may differ. The big lesson it makes concrete: a raise is worth less than its sticker size after taxes, and pre-tax retirement contributions cost you less in take-home pay than their full amount.
Results are estimates for education only and are not financial advice.