Employee Details
$
hrs
hrs
Payroll Breakdown
Gross Pay
$2,150.00
Net (Take-Home)
$1,428.68
Gross Pay+$2,150.00
Federal Income Tax (est.)−$449.35
State Income Tax (est.)−$107.50
Social Security (6.2%)−$133.30
Medicare (1.45%)−$31.18
Net Pay$1,428.68
Annual gross: $55,900.00. Estimates only — actual withholding varies.
Frequently Asked Questions
How is federal income tax calculated for payroll?
Federal tax is withheld based on the employee's W-4 filing status and allowances, using IRS tax tables. This calculator uses an estimated 22% bracket as an approximation. Actual withholding varies by filing status and income level.
What is the Social Security and Medicare tax rate?
Social Security tax is 6.2% for employees (up to the annual wage base, $168,600 for 2024). Medicare tax is 1.45%. Both are called FICA taxes. Employers match these amounts, meaning the total FICA cost is 15.3%.
What is overtime pay?
Under the Fair Labor Standards Act (FLSA), non-exempt employees must receive at least 1.5× their regular rate for hours worked beyond 40 in a workweek. Some states have additional overtime rules.
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