What Is an After-Taxes Calculator?

What Is an After-Taxes Calculator?

An after-taxes calculator is a calculator used to determine a person's net income, according to Calculator.net. Net income, which is the amount taken home, is calculated by deducting taxes and other deductions from gross pay.

An example of an after-taxes calculator is the Take-Home-Paycheck Calculator by Calculator.net. The calculator is used by employers to determine how much taxes to withhold from their employees, and by self-employed people to know how much taxes and benefits, such as Social Security and Medicare, to remit, explains Calculator.net. The after-taxes calculator applies the latest tax rates from each state. The calculation is done with payment frequencies based on daily, weekly, monthly, quarterly or yearly paychecks.