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Convert between hourly, daily, weekly, biweekly, monthly, and annual salary. Includes estimated federal income tax and FICA deductions.
Use 50 for 2 weeks vacation
Salary Conversions:
Annual = Hourly × Hours/Week × Weeks/Year
Monthly = Annual / 12 Biweekly = Annual / 26 Weekly = Annual / Weeks/Year
Daily = Annual / (Weeks/Year × 5) Hourly = Annual / (Hours/Week × Weeks/Year)
Tax estimate uses 2024 US federal brackets with $14,600 standard deduction. FICA = 6.2% Social Security (up to $168,600) + 1.45% Medicare.
Multiply your hourly rate by hours per week, then multiply by weeks per year. Standard: $25/hr × 40 hrs × 52 weeks = $52,000/year. Adjust the hours and weeks fields for part-time or contract work.
FICA (Federal Insurance Contributions Act) taxes fund Social Security and Medicare. Employees pay 6.2% for Social Security on income up to $168,600 (2024) and 1.45% for Medicare on all income. Employers match both amounts.
No. State income taxes vary from 0% (Florida, Texas, Nevada, etc.) to over 13% (California). Add your state's effective rate to estimate your true total tax burden and take-home pay.
The standard deduction ($14,600 for single filers in 2024) reduces taxable income automatically. Pre-tax 401(k), HSA, and FSA contributions also lower taxable income, reducing federal and state taxes.
Gross pay is total earnings before any deductions. Net pay (take-home pay) is what you receive after federal taxes, state taxes, FICA, health insurance premiums, and retirement contributions are subtracted. Net pay is typically 65-80% of gross pay.