Calculate your take-home pay after Federal Tax, State Tax, FICA (Social Security & Medicare), and Student Loan deductions. This is a simplified estimate, not tax advice.
This calculator provides estimates based on 2024 US federal tax brackets and simplified state tax calculations. It uses standard FICA rates and may not account for all deductions, credits, or state-specific rules. This is a simplified estimate and should not be considered tax advice. For accurate calculations, consult with a tax professional or use official IRS tools.
FICA stands for Federal Insurance Contributions Act and includes Social Security and Medicare taxes. Social Security tax is 6.2% on earnings up to $168,600 (2024 wage base). Medicare tax is 1.45% on all earnings. Your employer also pays matching amounts, but this calculator only shows your portion.
Filing status (Single vs Married Filing Jointly) affects your federal income tax brackets. Married couples filing jointly have wider tax brackets, which can result in lower tax rates on the same combined income compared to filing separately as single individuals.
The standard deduction for 2024 is $14,600 for single filers and $29,200 for married couples filing jointly. This calculator uses progressive tax brackets that account for the standard deduction in the bracket structure.
No, this calculator uses a simplified state tax model (either 0% or a generic 5% flat rate). Actual state taxes vary significantly by state and may include different brackets, deductions, and exemptions. For accurate state tax calculations, consult your state's tax authority or a tax professional.