💰 US Salary Calculator
US Salary Calculator
Calculate your take-home pay including federal taxes, state taxes, Social Security, and Medicare
Enter Salary Information
Calculation Results
Tax Rate Summary
Salary Knowledge
Understanding US salary and tax concepts for better financial planning
Federal Income Tax
Federal income tax uses a progressive tax system with rates from 10% to 37%. Your tax rate depends on your income level and filing status. Understanding tax brackets helps optimize your tax strategy.
Key Points:
- •Progressive tax rates: 10%, 12%, 22%, 24%, 32%, 35%, 37%
- •Standard deduction: $13,850 (single), $27,700 (married filing jointly)
- •Tax brackets are marginal - only income above each threshold is taxed at that rate
- •Filing status affects your tax brackets and standard deduction
💡 Pro Tip
Consider tax-advantaged accounts like 401(k) and IRA to reduce your taxable income and lower your effective tax rate.
State Income Tax
State income tax varies significantly by state. Some states have no income tax, while others have rates up to 13%. Understanding your state's tax policy is crucial for financial planning.
Key Points:
- •No state income tax: TX, FL, WA, NV, TN, AK, WY, SD, NH
- •High tax states: CA (up to 13.3%), NY (up to 10.9%), NJ (up to 10.75%)
- •Some states tax only investment income, not wages
- •State tax deductions may differ from federal deductions
💡 Pro Tip
Consider state taxes when relocating or choosing between job offers in different states. The difference can be substantial.
Social Security & Medicare
FICA taxes fund Social Security and Medicare programs. These are flat taxes on wages up to certain limits, providing retirement and healthcare benefits.
Key Points:
- •Social Security: 6.2% on wages up to $160,200 (2024)
- •Medicare: 1.45% on all wages (no limit)
- •Additional Medicare tax: 0.9% on wages over $200,000
- •Employer matches your Social Security and Medicare contributions
💡 Pro Tip
Higher earners pay proportionally less Social Security tax due to the wage cap, but there's no cap on Medicare tax.
401(k) Retirement Plans
A 401(k) is an employer-sponsored retirement plan that offers tax advantages. Contributions reduce your current taxable income while building retirement savings.
Key Points:
- •Contribution limit: $23,000 (2024), $30,500 if 50 or older
- •Employer match is free money - always contribute enough to get full match
- •Traditional 401(k): Tax-deferred, pay taxes in retirement
- •Roth 401(k): After-tax contributions, tax-free withdrawals in retirement
💡 Pro Tip
Aim to contribute at least enough to get your full employer match. Consider increasing contributions with salary raises.
Health Insurance Benefits
Employer-provided health insurance is typically paid with pre-tax dollars, reducing your taxable income. Understanding your options helps optimize both health coverage and taxes.
Key Points:
- •Premiums are usually pre-tax, reducing taxable income
- •HSA contributions are triple tax-advantaged (deductible, growth, withdrawals)
- •FSA allows pre-tax payment for medical expenses
- •COBRA provides temporary coverage after job loss
💡 Pro Tip
If eligible, maximize HSA contributions - it's the best tax-advantaged account available for those with high-deductible health plans.
Tax Planning Strategies
Strategic tax planning can significantly reduce your tax burden. Understanding timing, deductions, and tax-advantaged accounts helps optimize your financial situation.
Key Points:
- •Maximize pre-tax retirement contributions to reduce current taxes
- •Consider Roth conversions in low-income years
- •Time capital gains and losses strategically
- •Understand itemized vs. standard deduction benefits
💡 Pro Tip
Review your tax strategy annually and consider consulting a tax professional for complex situations or high incomes.
Calculator User Guide
Enter Basic Info
Input your annual salary, state, and filing status
Add Deductions
Include 401(k), health insurance, and other pre-tax deductions
Review Calculations
See detailed breakdown of taxes and take-home pay
Plan & Optimize
Use results to optimize your tax strategy and savings
Tax & Salary Concepts
Master key concepts to understand your paycheck better
User Reviews
See what others are saying
Sarah Johnson
This calculator helped me understand exactly where my money goes each month. The breakdown is so detailed and accurate!
Mike Chen
As someone comparing job offers in different states, this tool was invaluable for understanding the real take-home differences.
Emily Rodriguez
The tax planning insights helped me optimize my 401(k) contributions. I'm saving thousands in taxes now!
Frequently Asked Questions
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