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Paycheck Calculator |
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Additional information: Certain deductions (health, dental etc) are considered pre-tax. They are subtracted from your gross pay before taxes are calculated, thus reducing your taxable income. Current Pre-Tax deductions:
Exempt from all tax : Contributions to retirement plans. Graduate Level Tuition Waivers To include tuition waiver taxable impact, begin with your total expected waiver for the year, subtract $5,250.00 and divide the result by the remaining paydays in the calendar year. Add that amount to your per period salary and also include it as a normal deduction. Miscellaneous Pay One-time pays and certain other miscellaneous pays are considered "Supplemental Pay" by the IRS and are subject to a flat 25% Federal tax.
Important Information on Calculators: The calculators provided on this website are only meant to provide general guidance and estimates about the payroll process. They should not be relied upon to calculate exact taxes, payroll or other financial data. They may not match your paycheck precisely and are not intended to provide tax or legal advice. You should consult with a professional advisor or accountant concerning your specific concerns.
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IRS
Withholding Calculator
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(Last updated 06/25/07 04:04 PM )