2024 FICA Tax Rates
| Tax | Employee Rate | Wage Base |
|---|---|---|
| Social Security | 6.2% | $168,600 |
| Medicare | 1.45% | No limit |
| Additional Medicare | 0.9% | Over $200K |
Payroll Tax Calculator
Estimate your take-home pay after federal income tax, Social Security (6.2%), and Medicare (1.45%) deductions. Enter your gross pay to see a detailed paycheck breakdown for any pay period.
Take-Home Pay Estimator
Frequently Asked Questions
What is FICA?
FICA stands for Federal Insurance Contributions Act. It covers Social Security (6.2%) and Medicare (1.45%) taxes, totaling 7.65% of gross wages. Your employer matches this amount. Self-employed individuals pay both halves (15.3%) as self-employment tax.
Why does my take-home pay differ from this estimate?
This calculator estimates federal taxes only. Your actual take-home pay may differ due to: state income taxes, local taxes, health insurance premiums, 401(k) contributions, FSA/HSA deductions, garnishments, and withholding elections on your W-4. Use this as a rough guide and verify with your employer's payroll system.
How to Calculate Your Take-Home Pay
Your gross paycheck is not what hits your bank account. Between federal income tax withholding, FICA (Social Security and Medicare), and your state state income taxes, a meaningful chunk is withheld before you see a dime. This calculator works through each deduction so you know exactly what to expect.
What Gets Deducted from Your Paycheck
Federal income tax is withheld based on your filing status (Single, Married Filing Jointly, etc.) and your W-4 allowances. The 2026 tax brackets range from 10% to 37%.
Social Security is 6.2% of gross pay up to the annual wage base ($176,100 for 2026). Medicare is 1.45% with no cap — and an additional 0.9% on wages above $200,000.
your state state income tax varies by state. Some states have no income tax (Texas, Florida, Washington, Nevada, Wyoming, South Dakota, Alaska). Others use flat or progressive rates.
Pre-tax deductions — like 401(k) contributions, health insurance premiums, and FSA contributions — reduce your taxable income before withholding is calculated.
Step-by-Step: Using This Calculator
- Enter your gross pay (annual salary or hourly rate × hours worked)
- Select your pay frequency (weekly, bi-weekly, semi-monthly, or monthly)
- Choose your federal filing status and any additional withholding
- Enter any pre-tax deductions (401k, health insurance, etc.)
- Click Calculate to see your net take-home pay and each deduction itemized
Example Calculation
A single filer in your state earning $60,000/year paid bi-weekly (gross $2,307.69 per check):
- Federal income tax: ~$248 (22% bracket after standard deduction)
- Social Security: $143.08 (6.2%)
- Medicare: $33.46 (1.45%)
- Net take-home: approximately $1,883 per paycheck
Actual amounts depend on your W-4, deductions, and local taxes — which is why using this calculator with your real numbers gives you a more accurate picture.
Why Your Take-Home Changes Mid-Year
If your paycheck suddenly looks larger around August or September, you may have hit the Social Security wage base. Once you earn above $176,100, the 6.2% Social Security withholding stops for the rest of the year, putting more money in each check. It goes back on January 1st.