1. What is the Salary Calculator?

This calculator helps UFT members in NYC determine their net salary after accounting for federal tax, NY state tax, NYC tax, and FICA contributions.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Gross Salary — Total earnings before deductions
• Federal Tax — Federal income tax withholding
• NY State Tax — New York State income tax
• NYC Tax — New York City local tax
• FICA — Social Security and Medicare taxes

Explanation: The equation subtracts all mandatory deductions from the gross salary to determine take-home pay.

3. Importance of Net Salary Calculation

Details: Understanding net salary helps with budgeting, financial planning, and verifying paycheck accuracy for UFT members in New York City.

4. Using the Calculator

Tips: Enter all amounts in USD. For most accurate results, use values from your pay stub or W-2 form.

5. Frequently Asked Questions (FAQ)

Q1: Where can I find these values on my pay stub?
A: Gross salary is your total earnings. Taxes and FICA are listed as separate line items in the deductions section.

Q2: Why is my net salary different from my take-home pay?
A: This calculator doesn't account for voluntary deductions like health insurance, retirement contributions, or union dues.

Q3: How often should I calculate my net salary?
A: It's good practice to verify whenever tax rates change or you receive a significant raise or change in tax status.

Q4: Are NYC taxes different for UFT members?
A: UFT members pay the same NYC taxes as other NYC residents, but may have different pre-tax deductions.

Q5: What if my FICA amount seems incorrect?
A: FICA is typically 7.65% of gross pay (6.2% Social Security + 1.45% Medicare). If you earn over $200,000, additional Medicare tax may apply.