Paycheck Calculator

For Wages Paid in 2011

Gross Pay
Gross Pay: 3,500.00 $
Pay Period: Monthly
Est. Gross Annual Pay: 42,000.00 $
Filing Status and Withholdings
Filing Status: Single
Number of Allowances: 2
Pre-Tax Adjustments
Tax Deferral Plan, 401(k): 5.00%
Other Pre-Tax Deductions: - $
Federal Taxable Gross: 2,708.34 $
Post-Tax Adjustments
State & Local Taxes: 5.30%
Other Post-Tax Deductions: - $
Post-Tax Reimbursements: - $
Estimated Pay Check
NET Take-Home Pay 2,569.12
FICA Social Security (6.2%) 217.00
FICA Medicare (1.45%) 50.75
Federal Tax 344.58
Tax Deferral Plan 175.00
Pre-Tax Deductions 0.00
State & Local Taxes 143.54 [42]
Post-Tax Deductions 0.00
Post-Tax Reimbursements 0.00
Caution:
This calculator is for educational and illustrative purposes only and should not be construed as financial or tax advice.
The results are only estimates and may not apply to your specific situation.
Please consult a qualified professional regarding financial decisions.
2010 Vertex42 LLC
Paycheck Calculator
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2011 ANNUAL Table for Percentage Method for Income Tax Withholding
Source: IRS Publication 15, Table 7, pg 37
http://www.irs.gov/pub/irs-pdf/p15.pdf
SINGLE
Excess over Withhold Percent
0.00 0.00 0%
2,100.00 0.00 10%
10,600.00 850.00 15%
36,600.00 4,750.00 25%
85,700.00 17,025.00 28%
176,500.00 42,449.00 33%
381,250.00 110,016.50 35%
MARRIED
Excess over Withhold Percent
0.00 0.00 0%
7,900.00 0.00 10%
24,900.00 1,700.00 15%
76,900.00 9,500.00 25%
147,250.00 27,087.50 28%
220,200.00 47,513.50 33%
387,050.00 102,574.00 35%
Percentage Method - 2011 Amount for One Withholding Allowance
Source: IRS Publication 15, Table 5, pg 35
http://www.irs.gov/pub/irs-pdf/p15.pdf
Pay Period Periods per Year Allowance
Weekly 52 71.15
Biweekly 26 142.31
Semimonthly 24 154.17
Monthly 12 308.33
Quarterly 4 925.00
Semiannually 2 1,850.00
Annually 1 3,700.00
These tables are used to estimate the federal tax withholding and need to be updated each year.
The federal tax is calculated by multiplying the Federal Taxable Gross by the number of
payments per year, then using the ANNUAL Table to calculate the withholding. The Federal
Taxable Gross is the Gross Pay minus the Allowances minus the pre-tax withholdings and
deductions.
Federal Tax Tables