Paycheck Calculator

Professional paycheck calculator for US federal payroll. Estimate federal withholding (FIT), Social Security, Medicare, and net pay per paycheck with 2024 IRS methods.

Full original guide (expanded)

Paycheck Calculator

Estimate US take-home pay with federal withholding, FICA, and pre or post tax deductions using IRS 15-T inputs and current limits.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Income and Payroll

Pre-tax deductions

Results

Gross pay (per period)$0.00
Pre-tax deductions total$0.00
Federal taxable wages$0.00
FICA taxable wages$0.00
Federal income tax (FIT)$0.00
Social Security (6.2%)$0.00
Medicare (1.45% + addl 0.9%)$0.00
Post-tax deductions$0.00
Net pay (take-home)$0.00

Estimates assume 2024 IRS brackets, standard deductions, and current FICA limits. Results are for guidance only. :contentReference[oaicite:8]{index=8}

Authoritative Data Source and Methodology

Primary source: IRS Publication 15-T — Federal Income Tax Withholding Methods (2024); SSA 2024 wage base; IRS Additional Medicare tax rules. Calculations mirror your original definitions. :contentReference[oaicite:9]{index=9}

The Formula Explained

Let pay periods/year be \(P\), gross wages \(W_g\) per period, with:

\[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \]
\[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \]
\[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \]
\[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \]

Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}

How It Works: A Step-by-Step Example

  1. Inputs: Biweekly; gross = $3,000; Single; 401(k) = 5%; Section 125 = $50; Step 3 credits = $0; no other income/deductions; no extra withholding.
  2. Pre-tax: 401(k) = $150; Section 125 = $50. FIT base = $2,800; FICA base = $2,950.
  3. Annualize FIT income: $2,800 × 26 = $72,800; minus standard deduction $14,600 ⇒ $58,200.
  4. Apply 2024 Single brackets to $58,200 ⇒ annual tax; divide by 26 ⇒ FIT per period.
  5. FICA: SS = min(SS wage base remaining, $2,950) × 6.2%; Medicare = $2,950 × 1.45% (+0.9% if annual > $200k).
  6. Net: Gross − pre-tax − FIT − SS − Medicare − post-tax. :contentReference[oaicite:11]{index=11}

In-Content Ad Unit

Frequently Asked Questions (FAQ)

Is my employer’s payroll going to match these results exactly?

Not always. Employers may have additional deductions, rounding rules, benefits, garnishments, or YTD thresholds that alter withholding. This tool provides high-quality estimates based on IRS methods. :contentReference[oaicite:12]{index=12}

Can I include state and local taxes?

This calculator focuses on US Federal taxes only. For a complete estimate, add state, local, and other withholdings separately. :contentReference[oaicite:13]{index=13}

How do I use the dependents credit?

Enter the annual total from W-4 Step 3 (commonly $2,000 per qualifying child under 17; $500 for others). :contentReference[oaicite:14]{index=14}

Does 401(k) reduce Social Security and Medicare?

No. Traditional 401(k)/403(b) reduces federal taxable wages but not Social Security or Medicare wages. Section 125 reduces both. :contentReference[oaicite:15]{index=15}

When does Additional Medicare Tax start?

Employers withhold an extra 0.9% once an employee’s year-to-date Medicare wages exceed $200,000 (estimated here using annualized wages and optional YTD input). :contentReference[oaicite:16]{index=16}

Full original guide (expanded)

Your original content (source attributions, definitions, example, and FAQs) is preserved and harmonized above to strengthen E-E-A-T and readability. :contentReference[oaicite:17]{index=17}

Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted LaTeX)
\[C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}\]
C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}
Formula (extracted LaTeX)
\[I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})\]
I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})
Formula (extracted LaTeX)
\[\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%\]
\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%
Formula (extracted LaTeX)
\[\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}\]
\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}
Formula (extracted text)
Let pay periods/year be \(P\), gross wages \(W_g\) per period, with: \[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \] \[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \] \[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \] \[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \] Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}
Variables and units
  • T = property tax (annual or monthly depending on input) (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Paycheck Calculator

Estimate US take-home pay with federal withholding, FICA, and pre or post tax deductions using IRS 15-T inputs and current limits.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Income and Payroll

Pre-tax deductions

Results

Gross pay (per period)$0.00
Pre-tax deductions total$0.00
Federal taxable wages$0.00
FICA taxable wages$0.00
Federal income tax (FIT)$0.00
Social Security (6.2%)$0.00
Medicare (1.45% + addl 0.9%)$0.00
Post-tax deductions$0.00
Net pay (take-home)$0.00

Estimates assume 2024 IRS brackets, standard deductions, and current FICA limits. Results are for guidance only. :contentReference[oaicite:8]{index=8}

Authoritative Data Source and Methodology

Primary source: IRS Publication 15-T — Federal Income Tax Withholding Methods (2024); SSA 2024 wage base; IRS Additional Medicare tax rules. Calculations mirror your original definitions. :contentReference[oaicite:9]{index=9}

The Formula Explained

Let pay periods/year be \(P\), gross wages \(W_g\) per period, with:

\[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \]
\[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \]
\[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \]
\[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \]

Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}

How It Works: A Step-by-Step Example

  1. Inputs: Biweekly; gross = $3,000; Single; 401(k) = 5%; Section 125 = $50; Step 3 credits = $0; no other income/deductions; no extra withholding.
  2. Pre-tax: 401(k) = $150; Section 125 = $50. FIT base = $2,800; FICA base = $2,950.
  3. Annualize FIT income: $2,800 × 26 = $72,800; minus standard deduction $14,600 ⇒ $58,200.
  4. Apply 2024 Single brackets to $58,200 ⇒ annual tax; divide by 26 ⇒ FIT per period.
  5. FICA: SS = min(SS wage base remaining, $2,950) × 6.2%; Medicare = $2,950 × 1.45% (+0.9% if annual > $200k).
  6. Net: Gross − pre-tax − FIT − SS − Medicare − post-tax. :contentReference[oaicite:11]{index=11}

In-Content Ad Unit

Frequently Asked Questions (FAQ)

Is my employer’s payroll going to match these results exactly?

Not always. Employers may have additional deductions, rounding rules, benefits, garnishments, or YTD thresholds that alter withholding. This tool provides high-quality estimates based on IRS methods. :contentReference[oaicite:12]{index=12}

Can I include state and local taxes?

This calculator focuses on US Federal taxes only. For a complete estimate, add state, local, and other withholdings separately. :contentReference[oaicite:13]{index=13}

How do I use the dependents credit?

Enter the annual total from W-4 Step 3 (commonly $2,000 per qualifying child under 17; $500 for others). :contentReference[oaicite:14]{index=14}

Does 401(k) reduce Social Security and Medicare?

No. Traditional 401(k)/403(b) reduces federal taxable wages but not Social Security or Medicare wages. Section 125 reduces both. :contentReference[oaicite:15]{index=15}

When does Additional Medicare Tax start?

Employers withhold an extra 0.9% once an employee’s year-to-date Medicare wages exceed $200,000 (estimated here using annualized wages and optional YTD input). :contentReference[oaicite:16]{index=16}

Full original guide (expanded)

Your original content (source attributions, definitions, example, and FAQs) is preserved and harmonized above to strengthen E-E-A-T and readability. :contentReference[oaicite:17]{index=17}

Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted LaTeX)
\[C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}\]
C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}
Formula (extracted LaTeX)
\[I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})\]
I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})
Formula (extracted LaTeX)
\[\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%\]
\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%
Formula (extracted LaTeX)
\[\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}\]
\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}
Formula (extracted text)
Let pay periods/year be \(P\), gross wages \(W_g\) per period, with: \[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \] \[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \] \[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \] \[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \] Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}
Variables and units
  • T = property tax (annual or monthly depending on input) (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Paycheck Calculator

Estimate US take-home pay with federal withholding, FICA, and pre or post tax deductions using IRS 15-T inputs and current limits.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Income and Payroll

Pre-tax deductions

Results

Gross pay (per period)$0.00
Pre-tax deductions total$0.00
Federal taxable wages$0.00
FICA taxable wages$0.00
Federal income tax (FIT)$0.00
Social Security (6.2%)$0.00
Medicare (1.45% + addl 0.9%)$0.00
Post-tax deductions$0.00
Net pay (take-home)$0.00

Estimates assume 2024 IRS brackets, standard deductions, and current FICA limits. Results are for guidance only. :contentReference[oaicite:8]{index=8}

Authoritative Data Source and Methodology

Primary source: IRS Publication 15-T — Federal Income Tax Withholding Methods (2024); SSA 2024 wage base; IRS Additional Medicare tax rules. Calculations mirror your original definitions. :contentReference[oaicite:9]{index=9}

The Formula Explained

Let pay periods/year be \(P\), gross wages \(W_g\) per period, with:

\[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \]
\[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \]
\[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \]
\[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \]

Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}

How It Works: A Step-by-Step Example

  1. Inputs: Biweekly; gross = $3,000; Single; 401(k) = 5%; Section 125 = $50; Step 3 credits = $0; no other income/deductions; no extra withholding.
  2. Pre-tax: 401(k) = $150; Section 125 = $50. FIT base = $2,800; FICA base = $2,950.
  3. Annualize FIT income: $2,800 × 26 = $72,800; minus standard deduction $14,600 ⇒ $58,200.
  4. Apply 2024 Single brackets to $58,200 ⇒ annual tax; divide by 26 ⇒ FIT per period.
  5. FICA: SS = min(SS wage base remaining, $2,950) × 6.2%; Medicare = $2,950 × 1.45% (+0.9% if annual > $200k).
  6. Net: Gross − pre-tax − FIT − SS − Medicare − post-tax. :contentReference[oaicite:11]{index=11}

In-Content Ad Unit

Frequently Asked Questions (FAQ)

Is my employer’s payroll going to match these results exactly?

Not always. Employers may have additional deductions, rounding rules, benefits, garnishments, or YTD thresholds that alter withholding. This tool provides high-quality estimates based on IRS methods. :contentReference[oaicite:12]{index=12}

Can I include state and local taxes?

This calculator focuses on US Federal taxes only. For a complete estimate, add state, local, and other withholdings separately. :contentReference[oaicite:13]{index=13}

How do I use the dependents credit?

Enter the annual total from W-4 Step 3 (commonly $2,000 per qualifying child under 17; $500 for others). :contentReference[oaicite:14]{index=14}

Does 401(k) reduce Social Security and Medicare?

No. Traditional 401(k)/403(b) reduces federal taxable wages but not Social Security or Medicare wages. Section 125 reduces both. :contentReference[oaicite:15]{index=15}

When does Additional Medicare Tax start?

Employers withhold an extra 0.9% once an employee’s year-to-date Medicare wages exceed $200,000 (estimated here using annualized wages and optional YTD input). :contentReference[oaicite:16]{index=16}

Full original guide (expanded)

Your original content (source attributions, definitions, example, and FAQs) is preserved and harmonized above to strengthen E-E-A-T and readability. :contentReference[oaicite:17]{index=17}

Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted LaTeX)
\[C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}\]
C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125}
Formula (extracted LaTeX)
\[I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})\]
I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status})
Formula (extracted LaTeX)
\[\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%\]
\text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\%
Formula (extracted LaTeX)
\[\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}\]
\text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax}
Formula (extracted text)
Let pay periods/year be \(P\), gross wages \(W_g\) per period, with: \[ C_{\text{401k}} = W_g \cdot r_{\text{401k}}, \quad W_{\text{FIT}} = W_g - C_{\text{401k}} - C_{125}, \quad W_{\text{FICA}} = W_g - C_{125} \] \[ I_{\text{ann}}=\max\!\big(0,\, W_{\text{FIT}}\cdot P + O - D_{\text{std}} - D_{4b}\big),\quad T_{\text{ann}}=\text{TaxBrackets}(I_{\text{ann}},\text{status}) \] \[ \text{FIT} = \max\!\left(0,\frac{T_{\text{ann}}-C_{\text{dep}}}{P}\right) + E,\quad \text{SS} = \min(B_{\text{SS}}^{\text{rem}},\, W_{\text{FICA}})\cdot 6.2\% \] \[ \text{MED} = W_{\text{FICA}}\cdot 1.45\% \;+\; \max\!\left(0, \frac{W_{\text{FICA}}\cdot P - 200{,}000}{P}\right)\cdot 0.9\%,\quad \text{Net}=W_g-C_{\text{401k}}-C_{125}-\text{FIT}-\text{SS}-\text{MED}-\text{PostTax} \] Formulas match your original methodology and labels. :contentReference[oaicite:10]{index=10}
Variables and units
  • T = property tax (annual or monthly depending on input) (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn
Formulas

(Formulas preserved from original page content, if present.)

Version 0.1.0-draft
Citations

Add authoritative sources relevant to this calculator (standards bodies, manuals, official docs).

Changelog
  • 0.1.0-draft — 2026-01-19: Initial draft (review required).