About this calculator
Your take-home pay is what hits the bank after federal income tax, FICA (Social Security + Medicare), state income tax, and pre-tax deductions like 401(k) and HSA. Effective rates are almost always lower than people think because the US uses progressive brackets: your "32% bracket" doesn't mean 32% of your income — it means 32% of the income in that bracket.
The 2024 federal brackets (single)
- 10% on income up to $11,600
- 12% from $11,600 to $47,150
- 22% from $47,150 to $100,525
- 24% from $100,525 to $191,950
- 32% from $191,950 to $243,725
- 35% from $243,725 to $609,350
- 37% above $609,350
Married-filing-jointly brackets are roughly 2× single. Head-of-household sits between. The 2024 standard deduction is $14,600 single / $29,200 MFJ — most taxpayers take this instead of itemizing.
FICA — the flat 7.65% you can't escape
Social Security at 6.2% applies to wages up to $168,600 (2024 cap). Medicare at 1.45% has no cap; an additional 0.9% kicks in above $200k. FICA is paid by the employee (your paycheck) and matched by the employer (you don't see it). Self-employed pay both halves (15.3% total).
State tax variation
9 states have no state income tax (TX, FL, WA, NV, TN, SD, WY, AK, NH). California tops out at 13.3%. Most states fall between 4 and 7%. Cities like NYC and Philadelphia add city tax on top. This calculator uses a flat state rate as input — real state taxes use brackets too but the approximation is fine for planning.
Pre-tax deductions: free money
A $1,000 pre-tax 401(k) contribution at a 32% marginal rate saves you $320 in current tax (or $456 if you live in California). Pre-tax HSA contributions save federal + state + FICA — the only triple-tax-advantaged account in the US. Both are essentially "free" salary increases if you have access.