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Our comprehensive hourly paycheck calculator is your go-to resource for understanding how various factors affect your weekly paycheck. By inputting your hourly rate and total hours worked, you can estimate your gross pay, deductions, and net pay. This helps you plan your finances better and avoid surprises when your paycheck arrives.
Your base hourly rate is the foundation of your paycheck. It’s the amount you earn for each hour worked before any taxes or deductions are applied. Knowing your hourly rate is essential for calculating your gross pay.
Total hours worked include all the hours you’ve clocked in for the pay period. This can include regular hours, overtime, and any additional hours worked over the weekend. Track your hours accurately to make sure you’re paid correctly for your time.
Deductions and taxes have a significant share in your paycheck. Understanding each type of deduction can help you anticipate how much will be taken out of your paycheck.
Federal income tax per paycheck is based on your earnings and the information provided on your W-4 form. The amount withheld depends on your filing status, number of dependents, and other factors.
State income tax varies depending on the state you live and work in. Some states have a flat tax rate, while others have a progressive tax system. Check your state's tax rate to understand how much will be deducted.
Social Security tax funds retirement, disability, and survivorship benefits for Americans. The tax rate is 12.4%, split equally between employers and employees, applied to income up to a set limit ($160,200 in 2023, $168,600 in 2024). Self-employed individuals pay the full 12.4% on 92.35% of net earnings. Certain groups may be exempt.
Medicare tax funds healthcare for people over 65 and those with disabilities. Employees pay 1.45% of their wages, matched by employers. High earners may face an additional 0.9% surtax. Self-employed individuals cover both portions, totaling 2.9%. This mandatory payroll tax ensures coverage for medical, hospital, and hospice care.
To calculate your hourly paycheck, follow these steps:
Multiply your base hourly rate by the total hours worked to determine your gross pay. For example, if your hourly rate is $20 and you worked 40 hours, your gross pay would be $800.
Refer to the IRS tax withholding tables or use our hourly paycheck calculator to estimate how much federal tax will be deducted from your paycheck.
Check your state’s tax rate to determine how much state income tax will be taken out of your paycheck. Our calculator can help estimate this amount as well.
Apply the 6.2% Social Security tax and the 1.45% Medicare tax to your gross income. These deductions are standard and apply to most employees.
Subtract all deductions, including federal and state taxes, Social Security, and Medicare, from your gross pay. This will give you the amount you take home or your net paycheck after taxes.
Using our hourly paycheck calculator is simple. Enter your hourly rate, total hours worked, and relevant tax information. The calculator will then provide an estimated paycheck after taxes. This tool helps you understand how much you’ll make after taxes and plan your finances accordingly.