Federal 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 how to calculate your paycheck, check the paycheck taxes FAQs below.

Paycheck results FAQs

Employee Paycheck Results

Gross Pay

$0.00

Federal Withholding

$0.00

Social Security

$0.00

Medicare

$0.00

Take home pay (net pay)

$0.00

Employer Taxes

For complete employer tax calculations, run payroll with PaycheckCity Payroll

Calculation Based On

Check Date

12/7/2023

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

Additional Federal Withholding

$0.00

Round Federal Withholding

Yes

Exempt from Federal Withholding

Exempt from Social Security

Exempt from Medicare

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 Withholding 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 calculate income tax by hand, follow these step-by-step instructions.

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 wages and 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). To calculate pre-tax deductions, check the Exempt checkboxes, meaning the deduction will be taxed.

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.

Why is my Federal Withholding (aka Federal Income Tax) result $0?

Depends on your paycheck’s wages, filing status (single, married filing jointly, etc), and how you answer your W-4 form questions. These answers are referenced to the IRS tax tables.

Usually, this tax equals $0 if the wages are not high enough. Wages need to be higher than the standard deduction. To calculate your federal withholding by hand see these step-by-step instructions and examples.

How can I reduce my tax liability?

Explore deductions and credits available, such as contributions to retirement accounts, to potentially lower your taxable income.

State Federal Salary Paycheck Calculators

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

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.

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