Use our Free Paycheck Calculator spreadsheet to estimate the effect of deductions, withholdings, federal tax, and allowances on your net take-home pay. Unlike most online paycheck calculators, using our spreadsheet will allow you to save your results, see how the calculations are done, and even customize it.

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categories: Financial Calculators

Paycheck Calculator for Excel

for Excel and OpenOffice
Paycheck Calculator
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Version: Excel 2007 or later
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Template Details

License: Private Use
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(not for distribution or resale)
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"No installation, no macros - just a simple spreadsheet" - by


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Description

Estimate your Net Take Home Pay using this Paycheck Calculator for Excel. Answer questions such as:

  • How do the number of allowances affect the federal tax withholdings?
  • How much will my take-home pay change if I contribute more to my 401(k)?

Using the Paycheck Calculator

- Enter your Gross Pay for monthly, semi-monthly, biweekly, or weekly pay periods.

- Federal taxes are calculated using tables from IRS Publication 15 for tax year 2014.

- FICA Social Security Tax and Medicare are calculated based on the percentage of your Gross Pay.

- State and Local taxes are estimated by multiplying the federal taxable gross by a percentage that you input.

- Read the cell comments if you need more information about an input or calculation.

Paycheck Calculation References

Disclaimer: This calculator is for illustrative and educational purposes only. We do not guarantee the results or the applicability to your unique situation. You should seek advice from qualified professionals.

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