Where your income goes
Take-home by pay period
Understanding your taxes
What's the difference between marginal and effective tax rate? ▾
Your marginal rate is what you pay on your next dollar of income — the rate of the highest bracket you reach. Your effective rate is your total tax divided by your total income — a blended average. Effective rate is always lower than marginal rate under a progressive system, because lower brackets are taxed at lower rates first.
What is FICA? ▾
FICA funds Social Security (6.2% on wages up to an annual cap) and Medicare (1.45%, uncapped, plus an extra 0.9% above a high-income threshold). Employees and employers each pay half; self-employed people pay both halves (15.3% combined) but on 92.35% of net earnings.
Standard vs. itemized deduction — which should I use? ▾
The standard deduction is a fixed amount everyone can claim. Itemizing lets you deduct specific expenses instead (mortgage interest, charitable gifts, certain medical costs, state/local taxes up to a cap) — worth doing only if your itemized total is larger than the standard deduction for your filing status.
Why is this only an estimate? ▾
This calculator models federal brackets, the standard/itemized deduction, a simplified Child Tax Credit, and FICA — but it doesn't model the Alternative Minimum Tax, Net Investment Income Tax, the Qualified Business Income deduction, tax credit phase-outs, or state-specific bracket structures. For a return you'll file, use official IRS tools or a tax professional.
Federal bracket-by-bracket
Full tax summary
| Name | Income | Status | Total tax | Effective rate | Take-home |
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