Taxes = Federal Tax + State Tax + FICA
From: | To: |
This calculator estimates the taxes deducted from an hourly wage in the United States, including federal income tax, state income tax, and FICA (Social Security and Medicare) contributions.
The calculator uses the following formula:
Where:
Explanation: The calculator first estimates your annual income based on hourly wage and weekly hours, then applies appropriate tax rates.
Details: Understanding your tax deductions helps with financial planning, budgeting, and ensuring proper withholding to avoid surprises at tax time.
Tips: Enter your hourly wage, typical weekly hours, select your state and filing status. The calculator will estimate your weekly tax deductions and net pay.
Q1: Are these tax estimates exact?
A: No, these are estimates. Actual taxes may vary based on deductions, credits, and other factors not accounted for here.
Q2: Why doesn't my state appear in the list?
A: This calculator includes only a few sample states. In a full implementation, all 50 states would be included.
Q3: What about overtime pay?
A: Overtime is not specifically accounted for in this simplified calculator.
Q4: Are local taxes included?
A: No, this calculator only considers federal and state income taxes plus FICA.
Q5: How often are the tax rates updated?
A: This calculator uses current rates, but for official tax calculations, always refer to the latest IRS and state tax guidelines.