Calculate your exact net pay per paycheck after federal income tax, state tax, FICA, and pre-tax deductions. See how 401(k), HSA, and health insurance contributions affect each paycheck.
Your net paycheck is your gross pay minus taxes and pre-tax deductions. Understanding exactly what comes out of each paycheck helps you budget accurately and avoid surprises.
Pre-tax deductions like 401(k) contributions, HSA contributions, and health insurance premiums are subtracted from your gross pay before federal and state income taxes are calculated. This lowers your taxable income, meaning you pay less in income tax. However, these deductions do not reduce your FICA (Social Security and Medicare) taxes.
FICA taxes are calculated on your full gross salary regardless of pre-tax deductions. Social Security tax is 6.2% on earnings up to $184,500, and Medicare tax is 1.45% on all earnings (plus an additional 0.9% on earnings above $200,000).
Pay frequency affects the size of each paycheck but not your total annual tax burden. Weekly pay means 52 smaller paychecks, biweekly means 26, semi-monthly means 24, and monthly means 12 larger paychecks. The annual totals remain the same regardless of frequency.