Net Pay

Net pay, or take-home pay, is what is left of gross pay after taxes and deductions. It is the amount deposited in your bank account or printed on your check.

Start with gross pay, then take out federal income tax withholding, Social Security tax, Medicare tax, any state and local income tax, and the deductions you chose. On a $2,307.69 check, Social Security and Medicare alone take $176.54 before income tax. The paycheck calculator works out the rest for any state.

Net pay also falls with each deduction you choose, such as a 401(k) or health insurance. The take-home pay guide shows the steps by hand, and why your paycheck is so low lists common reasons it comes in under what you expected.