What is a take-home pay calculator?
It is a tool that helps you estimate your net pay (the money you actually receive) after taxes and other deductions are subtracted from your gross salary.
How do I use this calculator?
Simply enter your total Annual Salary, your estimated Tax Rate (%), and any Other Deductions (like health insurance or retirement savings). Then, click “Calculate.
Can I use this calculator for my specific state?
Yes, but this is a simple calculator. To get an accurate estimate for your location, you must find your total combined tax rate (including federal, state, and local taxes) and enter that single number into the “Tax Rate (%)” field
Does this calculator work for other countries?
Yes. This is a universal calculator. You must enter your total annual salary in your currency and your country’s total effective tax rate into the “Tax Rate (%)” field.
How do I add deductions like 401k or health insurance?
Add all your non-tax deductions (like 401k contributions, health insurance premiums, etc.) together and enter the total sum into the “Other Deductions” field.
How do I use this calculator if I am paid hourly?
First, calculate your total annual salary. Multiply your hourly wage by the number of hours you work per week, and then multiply that result by 52. Use this total for the “Annual Salary” field.
Can I calculate the take-home pay from a bonus?
Yes. Enter the bonus amount as the “Annual Salary.” Find the specific tax rate for your bonus (as it may be taxed differently) and enter it in the “Tax Rate (%)” field.
Can this calculator compare Roth vs. Traditional 401k?
No. This is a simple estimation tool and is not designed to compare the complex tax rules of different retirement plans
Can this calculator compare umbrella vs. limited company pay?
No. This calculator is for simple salary estimations and cannot handle complex comparisons between different employment structures.