TAX · PAYROLL

Paycheck Calculator

See a detailed breakdown of your paycheck — gross pay, federal withholding, state tax, Social Security, and Medicare. Supports both hourly and salaried workers.

LAST REVIEWED · APR 10, 2026 · BY M. REYES, CPA
You need
$2,143
Est. cost
$42
PaycheckReset
Pay Type
Annual Salary
$75,000
$10K$500K
Pay Frequency
Filing Status
State
Pre-Tax Deductions401k, health, etc. per period
$0
$0$2K
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Understanding your paycheck stub

Your pay stub shows gross pay at the top and a list of deductions below it: federal withholding, state withholding, Social Security, Medicare, and any voluntary deductions (401k, health insurance, etc.). What's left is your net pay — the amount deposited to your account.

Hourly vs. salary

Salaried employees receive a fixed amount per period regardless of hours. Hourly workers are paid for actual hours worked, with overtime (1.5x) typically required after 40 hours per week under federal law.

Pre-tax deductions save money

401(k) contributions, health insurance premiums, and HSA/FSA contributions come out before taxes are calculated. A $500/month 401(k) contribution doesn't reduce your paycheck by $500 — it reduces it by less, because you also save on federal and often state tax.

Methodology. Calculates per-period gross pay, then applies federal withholding using annualized 2026 brackets, state tax using effective flat rates for the 10 most populous states, Social Security (6.2% up to $176,100), and Medicare (1.45%). Pre-tax deductions reduce taxable income before federal withholding.

Sources

  • IRS Publication 15 (Employer's Tax Guide, 2026)
  • IRS Publication 15-T (Federal Income Tax Withholding Methods)
  • State payroll tax rate publications (2026)
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Frequently asked questions

Why is my first paycheck different from later ones? +
Your first paycheck may cover a partial pay period. Also, some benefits (health insurance, 401k) may not kick in until after a waiting period, so your initial deductions may be lower.
How is overtime calculated? +
Federal law (FLSA) requires 1.5x your regular rate for hours over 40 in a workweek. Some states (like California) also require overtime after 8 hours in a day.
Why does my paycheck change after a raise? +
A raise increases your gross pay, but it may also push some income into a higher tax bracket, increasing your federal withholding. The net increase is always less than the gross increase.
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