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.
Update 1/27/2018: I have updated the tax tables for 2018 based on IRS Notice 1036.
Paycheck Calculator for Excelfor Excel and OpenOffice
"No installation, no macros - just a simple spreadsheet" - by Jon Wittwer
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)?
How Do W-4 Allowances Affect Take-Home Pay?
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 2018.
- 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
- Notice 1036 (Rev Jan 2018) - Early Release Copies of the 2018 Percentage Method Tables for Income Tax Withholding.
- IRS Publication 15 (Employer's Tax Guide) (.pdf) at www.irs.gov - The official source for information about payroll taxes in the US.
- State Income Tax Rates at taxfoundation.org - Information about state income taxes. You should also check your state's department of revenue website.
- Payroll Tax Deductions Calculator at bankrate.com - This is an online paycheck calculator that I used to help verify the net take home pay calculations in the spreadsheet.
- Hourly Wage Pay Calculator at dinktown.net - This online paycheck calculator lets you enter hours worked and your hourly wage.