Paycheck Calculator

For Wages Paid in 2023 using the NEW W-4 Form © 2020-2023 Vertex42 LLC
Paycheck Calculator
Gross Pay BETA - Check Results Carefully
Gross Pay: $ 3,500.00

NET Take-Home
Pay Period: Monthly
Periods Per Year: 12

Pay
Est. Gross Annual Pay: $ 42,000.00 3,000

Information on W-4
Filing Status: Married Joint
Is Box 2(c) checked?: No 2,500
Dependents from Step 3:
Other Income from Step 4a: $ 500.00
Deductions from Step 4b: $ 1,000.00 2,000
Extra Withholding from Step 4c: $ 250.00

Filing Status and Withholdings 1,500

Pre-Tax Adjustments (not included in Step 4b)
Tax Deferral Plan, 401(k): 0.00%
Health Insurance Premiums: $ - 1,000

Federal Tax
FICA Social Secu -

Withheld
Other Pre-Tax Deductions: $ -

Pre-Tax Deductions
rity (6.2%)

State & Local

Federal Taxable Gross: $ 3,500.00

Tax Deferral Plan

Health Insurance
FICA Medicare

Post-Tax Deduc-

imbursements
Taxes
Adjustment based on Filing Status: $ 12,900.00

Post-Tax Re-
Premiums
500

(1.45%)

tions
Adjusted Annual Wage: $ 28,600.00
Post-Tax Adjustments
State & Local Taxes: 5.30% 0
Other Post-Tax Deductions: $ -
Post-Tax Reimbursements: $ -

Estimated Pay Check

NET Take-Home Pay 2,681.75
FICA Social Security (6.2%) 217.00
FICA Medicare (1.45%) 50.75
Federal Tax Withheld 365.00
Tax Deferral Plan 0.00
Health Insurance Premiums 0.00
Pre-Tax Deductions 0.00
State & Local Taxes 185.50
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.

REFERENCES
New (2023) W-4 Employee's Withholding Certificate, https://www.irs.gov/pub/irs-pdf/fw4.pdf
IRS Income Tax Withholding Assistant for Employers
Federal Tax Tables (for 2023, using NEW W-4)
These tables are used to estimate the federal tax withholding and need to be updated each year.
Source: IRS Publication 15-T, pg11

STANDARD Withholding Rate Schedules (New W-4s) New Form W-4, Step 2, Checkbox, W
Used when Box 2(c) is NOT Checked Used when Box 2(c) IS
MARRIED Filing Jointly MARRIED Filing Jointly
Wage Threshold Base Withholding Percent Wage Threshold
0.00 0.00 0.0% 0.00
14,800.00 0.00 10.0% 13,850.00
36,800.00 2,200.00 12.0% 24,850.00
104,250.00 10,294.00 22.0% 58,575.00
205,550.00 32,580.00 24.0% 109,225.00
379,000.00 74,208.00 32.0% 195,950.00
477,300.00 105,664.00 35.0% 245,100.00
708,550.00 186,601.50 37.0% 360,725.00
SINGLE or Married Filing Separately SINGLE or Married Filing Separately
Wage Threshold Base Withholding Percent Wage Threshold
0.00 0.00 0.0% 0.00
5,250.00 0.00 10.0% 6,925.00
16,250.00 1,100.00 12.0% 12,425.00
49,975.00 5,147.00 22.0% 29,288.00
100,625.00 16,290.00 24.0% 54,613.00
187,350.00 37,104.00 32.0% 97,975.00
236,500.00 52,832.00 35.0% 122,550.00
583,375.00 174,238.25 37.0% 295,988.00
HEAD OF HOUSEHOLD HEAD OF HOUSEHOLD
Wage Threshold Base Withholding Percent Wage Threshold
0.00 0.00 0.0% 0.00
12,200.00 0.00 10.0% 10,400.00
27,900.00 1,570.00 12.0% 18,250.00
72,050.00 6,868.00 22.0% 40,325.00
107,550.00 14,678.00 24.0% 58,075.00
194,300.00 35,498.00 32.0% 101,450.00
243,450.00 51,226.00 35.0% 126,025.00
590,300.00 172,623.50 37.0% 299,450.00

Note: The STANDARD table has been adjusted based on step 1g of Worksheet 1. Employer's Withholding Worksheet for Percentage Method Tables for Autom

Standard Deductions from Step 4(b) on W-4

Source: irs.gov Form W-4 2023 pg3
Married Joint 27,700.00
Single 13,850.00
Head of Household 20,800.00

Period Per Year

Pay Period Periods per Year
Weekly 52
Biweekly 26
Semimonthly 24
Monthly 12
Quarterly 4
Semiannually 2
Daily 260
rm W-4, Step 2, Checkbox, Withholding Rates
en Box 2(c) IS Checked
D Filing Jointly
Base Withholding Rate Over Threshold
0.00 0.0%
0.00 10.0%
1,100.00 12.0%
5,147.00 22.0%
16,290.00 24.0%
37,104.00 32.0%
52,832.00 35.0%
93,300.75 37.0%
or Married Filing Separately
Base Withholding Rate Over Threshold
0.00 0.0%
0.00 10.0%
550.00 12.0%
2,573.50 22.0%
8,145.00 24.0%
18,552.00 32.0%
26,416.00 35.0%
87,119.13 37.0%
F HOUSEHOLD
Base Withholding Rate Over Threshold
0.00 0.0%
0.00 10.0%
785.00 12.0%
3,434.00 22.0%
7,339.00 24.0%
17,749.00 32.0%
25,613.00 35.0%
86,311.75 37.0%

sheet for Percentage Method Tables for Automated Payroll Systems.

Paycheck Calculator

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