What This Calculator Includes (and Doesn't)
This calculator estimates your take-home pay after two federal-level deductions:
- Federal income tax — calculated using current tax brackets and the standard deduction for your filing status
- FICA taxes — Social Security (6.2%, up to the annual wage base limit) and Medicare (1.45%, uncapped)
What's Not Included
This estimate deliberately excludes several factors that vary too much to generalize:
- State and local income tax — some states have no income tax, others have rates up to 13%+
- Pre-tax deductions — 401(k) contributions, health insurance premiums, and HSA contributions all reduce your taxable income and would lower your actual federal tax below this estimate
- Tax credits — like the Child Tax Credit, which would further reduce actual tax owed for eligible taxpayers
Why FICA Has Two Parts
Social Security tax (6.2%) only applies up to an annual wage base limit (adjusted yearly) — income above that threshold isn't subject to additional Social Security tax. Medicare tax (1.45%) has no such cap and applies to all wages (plus an additional 0.9% surtax on very high earners, not modeled here).