2024 Gross-Up Paycheck Calculator: Federal, State and Local taxes
The most accurate paycheck calculators for the last 20 years! Use this gross pay to net pay calculator to gross up wages based on net pay. For example, if an employee receives $500 in take-home pay it will calculate the gross amount that must be used when calculating payroll taxes. It determines the amount of gross wages before taxes and deductions that are withheld, given a specific take-home pay amount.
What’s a gross-up calculator?
Are bonuses taxed differently than regular pay?
Yes. Bonuses are taxed more than regular pay because they are considered supplemental income. They are always federally taxed, no matter which tax bracket you’re in.
Bonuses are taxed either by using the percentage method or the aggregate method. PaycheckCity has both percentage and aggregate bonus free calculators.
What is the percentage method for bonuses?
What is the aggregate method for bonuses?
Will my bonus be taxed even if I claim exempt in my W4?
Are bonuses taxed by states?
What are my withholding requirements?
What’s the difference between single and head of household?
How is Federal Withholding (Federal Income Tax) 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! To learn how to manually calculate federal income tax, use these step-by-step instructions and examples.
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. .
2024 Tax Rate | Single | Married Filing Jointly | Head of Household |
---|---|---|---|
10% | $0 to $11,600 | $0 to $23,200 | $0 to $16,550 |
12% | $11,601 to $47,150 | $23,201 to $94,300 | $16,551 to $63,100 |
22% | $47,151 to $100,525 | $94,301 to $201,050 | $63,101 to $100,500 |
24% | $100,526 to $191,950 | $201,051 to $383,900 | $100,501 to $191,950 |
32% | $191,951 to $243,725 | $383,901 to $487,450 | $191,951 to $243,700 |
35% | $243,726 to $609,350 | $487,451 to $731,200 | $243,701 to $609,350 |
37% | $609,351 or more | $731,201 or more | $609,351 or more |
What’s the W-4 form, and why is important?
You filled out a W-4 form when you were hired. The W4 form determines the amount of federal income tax withheld from your paycheck. Completing it accurately ensures proper withholding. States have their own state withholding forms too.
How much are Social Security and Medicare taxes?
Social Security tax is 6.2% on $147,000 of earned income. The maximum Social Security tax for employees is $9,114.
Medicare tax is 1.45%. There is a 0.9% Additional Medicare Tax for employees on wages earned after $200,000 ($250,000 for married filing jointly, or $125,000 for married filing separately). This means when an employee’s income reaches that threshold in a calendar year, the employer should withhold 2.35% total for Medicare. Learn more about Social Security and Medicare taxes.
What was updated in the Federal W4 in 2020?
In 2020, the IRS updated the Federal W4 form that eliminated withholding allowances. The redesigned Form W4 makes it easier for your withholding to match your tax liability. Here’s how to answer the new questions:
- Step 2: check the box if you have more than one job or you and your spouse both have jobs. This will increase withholding.
- Step 3: enter an amount for dependents.The old W4 used to ask for the number of dependents. The new W4 asks for a dollar amount. Here’s how to calculate it: If your total income will be $200k or less ($400k if married) multiply the number of children under 17 by $2,000 and other dependents by $500. Add up the total.
- Step 4a: extra income from outside of your job, such as dividends or interest, that usually don't have withholding taken out of them. By entering it here you will withhold for this extra income so you don't owe tax later when filing your tax return.
- Step 4b: any additional withholding you want taken out. Any other estimated tax to withhold can be entered here. The more is withheld, the bigger your refund may be and you’ll avoid owing penalties.
If your W4 on file is in the old format (2019 or older), toggle "Use new Form W-4" to change the questions back to the previous form. Employees are currently not required to update it. However if you do need to update it for any reason, you must now use the new Form W-4.
Are some deductions not taxed by federal income tax?
What are pre-tax and post-tax deductions?
How can I reduce my taxes?
Explore deductions and credits available, such as contributions to retirement accounts, to potentially lower your taxable income.
State Gross-Up Calculators
Select your state from the list below to see its gross-up calculator.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Washington DC
- Puerto Rico
- American Samoa
- Guam
- Northern Mariana Islands
- US Virgin Islands