Income Tax Calculator
Calculate your estimated federal income tax, FICA, state tax, and net take-home pay
How Federal Income Taxes Work
In the United States, income taxes use a progressive bracket system. This means your tax rate increases as your income crosses specific thresholds. You only pay the higher tax rate on the portion of your income that falls within that specific bracket.
What is FICA Tax?
FICA stands for the Federal Insurance Contributions Act. It is a mandatory payroll tax used to fund Social Security and Medicare:
- Social Security: 6.2% of your income up to the annual limit ($176,100).
- Medicare: 1.45% of your total income, with an additional 0.9% tax for individuals earning over $200,000.
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