Gross to Net Salary Calculator

Understanding Your Paycheck

The difference between gross and net salary is all the deductions taken out of your paycheck. Understanding these deductions helps you budget effectively and plan your finances.

Common Payroll Deductions

• Federal Income Tax: Based on your tax bracket and W-4 elections
• State Income Tax: Varies by state (some states have no income tax)
• Social Security (FICA): 6.2% up to wage limit ($168,600 in 2024)
• Medicare: 1.45% with additional 0.9% for high earners
• Retirement Contributions: 401(k), 403(b), or similar plans
• Health Insurance: Medical, dental, vision premiums
• Other Benefits: Life insurance, FSA, HSA, disability

Federal Tax Brackets (2024)

• 10%: $0 - $11,600
• 12%: $11,601 - $47,150
• 22%: $47,151 - $100,525
• 24%: $100,526 - $191,950
• 32%: $191,951 - $243,725
• 35%: $243,726 - $609,350
• 37%: Over $609,350

Ways to Increase Your Take-Home Pay

• Adjust W-4 withholdings (but don't underpay!)
• Contribute to pre-tax retirement accounts
• Use FSA or HSA for healthcare expenses
• Take advantage of employer benefits
• Claim all eligible tax deductions

Note: This calculator provides estimates. Actual deductions may vary based on your specific situation, employer, and location. Consult with your HR department or tax advisor for precise figures.