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Federal Dual Scenario Salary Paycheck Calculator Results

Below are your federal salary paycheck results. The results are broken up into three sections: "Paycheck Results" is your gross pay and specific deductions from your paycheck, "Net Pay" is your take-home pay, and "Calculation Based On" is the information entered into the calculator. To understand your results better, check the payroll results FAQs below.

Paycheck Results

Gross Pay
$0.00
Federal Withholding
$0.00
Social Security
$0.00
Medicare
$0.00

Take Home Pay

Net Pay
$0.00

Calculation Based On

Check Date
1/25/2023
Gross Pay
$0.00
Gross Pay Method
Annually
Gross Salary Year to Date
$0.00
Pay Frequency
Weekly
Federal Filing Status
Single
# of Federal Allowances
0
Additional Federal Withholding
$0.00
Round Federal Withholding
Yes
Exempt from Federal Withholding
No
Exempt from Social Security
No
Exempt from Medicare
No

Paycheck Results

Gross Pay
$0.00
Federal Withholding
$0.00
Social Security
$0.00
Medicare
$0.00

Take Home Pay

Net Pay
$0.00

Calculation Based On

Check Date
1/25/2023
Gross Pay
$0.00
Gross Pay Method
Annually
Gross Salary Year to Date
$0.00
Pay Frequency
Weekly
Federal Filing Status
Single
# of Federal Allowances
0
Additional Federal Withholding
$0.00
Round Federal Withholding
Yes
Exempt from Federal Withholding
No
Exempt from Social Security
No
Exempt from Medicare
No

Frequently Asked Questions

What is gross pay and net pay?

Gross pay amount is earnings before taxes and deductions are withheld by the employer. Net pay is the employee’s take-home pay. This calculator takes a gross pay and calculates the net pay.

How was my Federal Income Tax (FIT) calculated?

The more taxable income you have, the higher tax rate you are subject to. This calculation process can be complex, so PaycheckCity’s free calculators can do it for you!

The federal income tax is a tax on annual earnings for individuals, businesses, and other legal entities. All wages, salaries, cash gifts from employers, business income, tips, gambling income, bonuses, and unemployment benefits are subject to a federal income tax.

For each payroll, federal income tax is calculated based on the answers provided on the W-4 and year to date income, which is then referenced to the tax tables in IRS Publication 15-T. The current tax rates are 0%, 10%, 12%, 22%, 24%, 32%, 35%, or 37%. Again, the percentage chosen is based on the paycheck amount and your W4 answers.

How is an employee’s Social Security and Medicare taxes calculated?

Social Security tax is 6.2% on $147,000 of earned income. The maximum Social Security tax for employees is $9,114. Social Security is also known as OASDI (Old Age, Survivors, and Disability Insurance). Employees can log into www.ssa.gov to verify their wages and confirm their benefits at various retirement ages.

Medicare is meant to supplement an employee’s healthcare benefits when they reach retirement age. Both employers and employees are required to contribute to Medicare at a rate of 1.45%. For employees, there is an additional 0.9% Medicare tax on wages earned after a $200,000 threshold. This means when an employee’s income reaches $200,000 in a calendar year, the employer should withhold 2.35% for Medicare, and it’s called the Additional Medicare Tax. The Social Security and Medicare taxes are collectively known as FICA (Federal Insurance Contributions Act).

Are some deductions not taxed by federal income tax?

Yes, some examples of pre-tax deductions include 401(k), health insurance, and flexible spending accounts (FSA).

What are pre-tax and post-tax deductions?

Pre-tax deductions are deducted before federal/state withholding taxes are imposed. Post-tax deductions are deducted after being taxed. An example of a post-tax deduction is a Roth 401(k).

How do I get my paycheck?

An employer might choose to distribute earnings by check, but more commonly these days the pay is deposited directly into the employee’s checking account automatically, based on the pay frequency. If your paycheck is late or inaccurate, contact your HR department.

Do employees pay Federal Unemployment Tax Act (FUTA)?

No, FUTA is only paid by employers. The current FUTA rate is 6% with a wage limit of $7,000 for each employee per year. There’s a Tentative Credit of 5.4%, so most employers pay 0.6%. Learn more about what taxes employers pay in Payroll Resources.
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State Dual Scenario Salary Paycheck Calculators

Select your state from the list below to see its dual scenario salary paycheck calculator.

  1. Alabama
  2. Alaska
  3. Arizona
  4. Arkansas
  5. California
  6. Colorado
  7. Connecticut
  8. Delaware
  9. Florida
  10. Georgia
  11. Hawaii
  12. Idaho
  13. Illinois
  14. Indiana
  15. Iowa
  16. Kansas
  17. Kentucky
  18. Louisiana
  19. Maine
  20. Maryland
  21. Massachusetts
  22. Michigan
  23. Minnesota
  24. Mississippi
  25. Missouri
  26. Montana
  27. Nebraska
  28. Nevada
  29. New Hampshire
  30. New Jersey
  31. New Mexico
  32. New York
  33. North Carolina
  34. North Dakota
  35. Ohio
  36. Oklahoma
  37. Oregon
  38. Pennsylvania
  39. Rhode Island
  40. South Carolina
  41. South Dakota
  42. Tennessee
  43. Texas
  44. Utah
  45. Vermont
  46. Virginia
  47. Washington
  48. West Virginia
  49. Wisconsin
  50. Wyoming
  51. Washington DC
  52. Puerto Rico
  53. American Samoa
  54. Guam
  55. Northern Mariana Islands
  56. US Virgin Islands
The calculators on this website are provided by Symmetry Software and are designed to provide general guidance and estimates. These calculators should not be relied upon for accuracy, such as to calculate exact taxes, payroll or other financial data. Neither these calculators nor the providers and affiliates thereof are providing tax or legal advice. You should refer to a professional adviser or accountant regarding any specific requirements or concerns.