The Take-Home Pay Estimator
See what actually hits your bank after taxes. Enter your salary for a solid paycheck estimate.
Gross pay is the number on the offer letter. Take-home pay is the number that actually hits your bank, and it is the one you should build your budget on. Taxes and deductions take a real bite, usually 20 to 30 percent. Put in your salary below for a solid estimate of what lands in your account.
The Take-Home Pay Estimator
A ballpark of your paycheck after federal tax, Social Security, Medicare, and state tax.
This is an estimate, not a pay stub. It uses standard federal brackets and the standard deduction, plus a flat rate for your state, so real life will differ a little based on your exact situation, extra withholdings, and local taxes. Great for comparing job offers and building a budget. Check an actual pay stub for the exact number.
Where your money actually goes
Three big deductions stand between gross and take-home. Federal income tax is the biggest, and it is progressive, meaning only the dollars in each bracket are taxed at that bracket's rate, so a raise never costs you money overall. Then come Social Security and Medicare, together called FICA, which run 7.65% on most of your pay. Last is state income tax, which ranges from zero in a handful of states to around 10% or more in others.
Why you budget off this number
People get into trouble by mentally spending their gross salary. A $60,000 salary is not $5,000 a month to spend. After taxes it is closer to $3,700 or $3,900 depending on your state. Build your budget on the take-home number, the one that clears into your checking account, and the math finally starts telling the truth.
This is general education, not personal or tax advice, so check with a licensed professional about your situation.
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