Frequently Asked Questions
What deductions come from my paycheck?
Common deductions include federal and state income taxes, Social Security (6.2%), Medicare (1.45%), and any employer-sponsored benefits like health insurance and 401(k).
How is income tax calculated?
Income tax is calculated based on your taxable income, filing status, and applicable tax brackets. Withholding is an estimate adjusted during annual tax filing.
What is gross vs. net pay?
Gross pay is your total earnings before any deductions. Net pay (take-home pay) is what you actually receive after all taxes and deductions are subtracted.
Updated 2026 — latest rates