Net Pay Breakdown
Professional User Guide
1. Hourly vs. Salaried
If you are paid hourly, multiply your rate by your hours per pay period to get your gross amount. For salaried employees, use your gross amount per paycheck.
2. Understanding Deductions
This calculator estimates Federal Income Tax and FICA. It does not include optional deductions like health insurance premiums or 401(k) contributions.
Frequently Asked Questions
How is net pay calculated?
Net pay is calculated by subtracting federal income tax, state income tax, and FICA (Social Security and Medicare) from your gross earnings.
What is the 2026 FICA tax rate?
The FICA rate is 7.65% for employees (6.2% for Social Security up to the wage base and 1.45% for Medicare).