Paycheck Calculator

For Wages Paid in 2023 using both New and earlier W-4 Forms
Gross Pay Estimated Pay Check

Gross Pay $ 3,500.00 Est. Gross Annual Pay $ 42,000.00

Payment Frequency Monthly Federal Taxable Gross $ 3,500.00
W-4 Form New W-4 (2020 or later) FICA Social Security (6.2%) $ 217.00

Filing Status and Withholdings (W-4 from 2019 or earlier) FICA Medicare 1.45% $ 50.75

Filing Status Single Tax Deferral Plan (401k) $ -

Number of Allowances 2 Other Pre-Tax withholdings $ -
Additional Amount to Withhold $ - Health Insurance Premiums $ -

Filing Status and Withholdings (W-4 from 2020 or later) Federal Tax $ 263.17

Filing Status Single State Tax $ -

Information form W-4 Local Tax $ -

Is Box in Step 2(c) Checked? No Insurance $ -

Step 3: Dependents Under Age 17 Other Post-Tax deductions $ -
Step 3: Other Dependents Post-Tax Reimbursements $ -
Step 4(a): Other income (not from jobs) $ -
Step 4(b): Deductions $ - Net Paycheck $ 2,969.08
Step 4(c): Extra withholding $ -

Pre-Tax Adjustments (Not Included in Step 4(b))

Tax Deferral Plan (401k) 0.00%

Other Pre-Tax withholdings $ -
Health Insurance Premiums $ -

Post-Tax Adjustments

State Tax Rate 0.00%

Local Tax Rate 0.00%

Post-Tax Deductions

Insurance $ -
Other Deductions $ -
Net Paycheck FICA Social Security (6.2%) FICA Medicare 1.45%
Post-Tax Reimbursement Tax Deferral Plan (401k) Other Pre-Tax withholdings Health Insurance Premiums
Federal Tax State Tax Local Tax
Post-Tax Reimbursements $ - Insurance Other Post-Tax deductions Post-Tax Reimbursements
Net Paycheck

Net Paycheck $ 2,969.08

FICA Social Security (6.2%)
3,500 $ 217.00
FICA Medicare 1.45% $ 50.75
3,000
Tax Deferral Plan (401k) $ -
FICA Social Security (6.2% )

Other Pre-Tax withholdings

2,500 $ -
Health Insurance Premiums
Other Pre-Tax withholdings

Other Post-Tax deductions

Post-Tax Reimbursements

Health Insurance Premiums $ -

Tax Deferral Plan (401k)

2,000
FICA Medicare 1.45%

Federal Tax $ 263.17

1,500
State Tax $ -
Federal Tax

Local Tax
1,000 $ -
Insurance
State Tax

Local Tax

Insurance $ -
500
Other Post-Tax deductions $ -
Post-Tax
0 Reimbursements $ -

Disclaimer:
This template is provided as-is for informational, illustrative, or/and educational purposes only and under no circumstances should be construed as financial, legal, or tax advice.
The results provided by this calculator are only estimates and may not apply to your specific situation.
Spreadsheet123 LTD strongly recommends seeking the advice of qualified professionals regarding financial or legal decisions.

REFERENCES
New (2023) W-4 Employee's Withholding Certificate, https://www.irs.gov/pub/irs-pdf/fw4.pdf
Income Tax Withholding Assistant for Employers (IRS)
Publication 15 T (IRS)
Federal Tax Tables - 2023
Periods Per Year
Pay Period Periods per Year

Weekly 52
Biweekly 26
Semimonthly 24
Monthly 12
Daily 260

Percentage Method Tables for Income Tax Withholding (For Wages Paid in 2023, using New W-4
Source: irs.gov/pub/irs-pdf/p15t.pdf
Tables below are copied from Page 11 of IRS Publication 15-T and must be updated every year.

STANDARD - Old W-4

(Use these if the Form W-4 is from 2019 or earlier)

MARRIED FILING JOINTLY

The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 14,800 $ - 0.0%
$ 14,800 $ 36,800 $ - 10.0%
$ 36,800 $ 104,250 $ 2,200.00 12.0%
$ 104,250 $ 205,550 $ 10,294.00 22.0%
$ 205,550 $ 379,000 $ 32,580.00 24.0%
$ 379,000 $ 477,300 $ 74,208.00 32.0%
$ 477,300 $ 708,550 $ 105,664.00 35.0%
$ 708,550 $ - $ 186,601.50 37.0%

SINGLE OR MARRIED FILING SEPARATELY

The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 5,250 $ - 0.0%
$ 5,250 $ 16,250 $ - 10.0%
$ 16,250 $ 49,975 $ 1,100.00 12.0%
$ 49,975 $ 100,625 $ 5,147.00 22.0%
$ 100,625 $ 187,350 $ 16,290.00 24.0%
$ 187,350 $ 236,500 $ 37,104.00 32.0%
$ 236,500 $ 583,375 $ 52,832.00 35.0%
$ 583,375 $ - $ 174,238.25 37.0%

HEAD OF HOUSEHOLD
The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 12,200 $ - 0.0%
$ 12,200 $ 27,900 $ - 10.0%
$ 27,900 $ 72,050 $ 1,570.00 12.0%
$ 72,050 $ 107,550 $ 6,868.00 22.0%
$ 107,550 $ 194,300 $ 14,678.00 24.0%
$ 194,300 $ 243,450 $ 35,498.00 32.0%
$ 243,450 $ 590,300 $ 51,226.00 35.0%
$ 590,300 $ - $ 172,623.50 37.0%

Table 6. Percentage Method - Amount for One Withholding Allowance

With Forms W-4 From 2019 or Earlier
Payroll Period Allowance Periods per Year

Daily $ 16.54 260

Weekly $ 82.69 52
Biweekly $ 165.38 26
Semimonthly $ 179.17 24
Monthly $ 358.33 12
Quarterly $ 1,075.00 4
Semiannually $ 2,150.00 2
Annually $ 4,300.00 1 ← See Page 62 of IRS 2023 Publication 15-T (
 Dependents - Step 3 W-4 Form (Page1)
Source: irs.gov/pub/irs-pdf/fw4.pdf (pg1)

Qualifying children under age 17 $ 2,000.00

Other Dependents $ 500.00

Standard Deductions - Step 4(b) W-4 Form (Page 3)

Source: irs.gov/pub/irs-pdf/fw4.pdf (pg3)
Single or Married Filing Separately $ 13,850.00
Married Filing Jointly $ 27,700.00
Head of Household $ 20,800.00

ages Paid in 2023, using New W-4)

updated every year.

HIGHER - New W-4

(Use these if the Form W-4 is from 2020 or later
and the box in Step 2 of Form W-4 IS checked)
MARRIED FILING JOINTLY
The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 13,850 $ - 0.0%
$ 13,850 $ 24,850 $ - 10.0%
$ 24,850 $ 58,575 $ 1,100.00 12.0%
$ 58,575 $ 109,225 $ 5,147.00 22.0%
$ 109,225 $ 195,950 $ 16,290.00 24.0%
$ 195,950 $ 245,100 $ 37,104.00 32.0%
$ 245,100 $ 360,725 $ 52,832.00 35.0%
$ 360,725 $ - $ 93,300.75 37.0%

SINGLE OR MARRIED FILING SEPARATELY

The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 6,925 $ - 0.0%
$ 6,925 $ 12,425 $ - 10.0%
$ 12,425 $ 29,288 $ 550.00 12.0%
 $ 29,288 $ 54,613 $ 2,573.56 22.0%
$ 54,613 $ 97,975 $ 8,145.06 24.0%
$ 97,975 $ 122,550 $ 18,551.94 32.0%
$ 122,550 $ 295,988 $ 26,415.94 35.0%
$ 295,988 $ - $ 87,119.24 37.0%

HEAD OF HOUSEHOLD
The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 10,400 $ - 0.0%
$ 10,400 $ 18,250 $ - 10.0%
$ 18,250 $ 40,325 $ 785.00 12.0%
$ 40,325 $ 58,075 $ 3,434.00 22.0%
$ 58,075 $ 101,450 $ 7,339.00 24.0%
$ 101,450 $ 126,025 $ 17,749.00 32.0%
$ 126,025 $ 299,450 $ 25,613.00 35.0%
$ 299,450 $ - $ 86,311.75 37.0%

ee Page 62 of IRS 2023 Publication 15-T (Table 7)

STANDARD - New W-4
(Use these if the Form W-4 is from 2020 or later
and the box in Step 2 of Form W-4 IS NOT checked)
MARRIED FILING JOINTLY
The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 27,700 $ - 0.0%
$ 27,700 $ 49,700 $ - 10.0%
$ 49,700 $ 117,150 $ 2,200.00 12.0%
$ 117,150 $ 218,450 $ 10,294.00 22.0%
$ 218,450 $ 391,900 $ 32,580.00 24.0%
$ 391,900 $ 490,200 $ 74,208.00 32.0%
$ 490,200 $ 721,450 $ 105,664.00 35.0%
$ 721,450 $ - $ 186,601.50 37.0%

SINGLE OR MARRIED FILING SEPARATELY

The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 13,850 $ - 0.0%
$ 13,850 $ 24,850 $ - 10.0%
$ 24,850 $ 58,576 $ 1,100.00 12.0%
$ 58,576 $ 109,226 $ 5,147.12 22.0%
$ 109,226 $ 195,950 $ 16,290.12 24.0%
$ 195,950 $ 245,100 $ 37,103.88 32.0%
$ 245,100 $ 591,976 $ 52,831.88 35.0%
$ 591,976 $ - $ 174,238.48 37.0%

HEAD OF HOUSEHOLD
The tentative amount to Plus this
At least But less than
withhold is: percentage
$ - $ 20,800 $ - 0.0%
$ 20,800 $ 36,500 $ - 10.0%
$ 36,500 $ 80,650 $ 1,570.00 12.0%
$ 80,650 $ 116,150 $ 6,868.00 22.0%
$ 116,150 $ 202,900 $ 14,678.00 24.0%
$ 202,900 $ 252,050 $ 35,498.00 32.0%
$ 252,050 $ 598,900 $ 51,226.00 35.0%
$ 598,900 $ - $ 172,623.50 37.0%
 Paycheck Calculator
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