To use a paycheck tax calculator, enter all the necessary information into the slots as provided to calculate after-tax pay, as displayed in Paycheck Manager. The categories include tax year, state, federal W-4 information, general paycheck information, non- and pre-tax deductions, and any after-tax adjustments.
After entering the state, a category pops up that provides the option for local tax selections, if applicable, as seen in Paycheck Manager. After this, insert the applicable numbers or information in the provided slots in the calculator. The federal W-4 information category includes marital status, number of allowances and other exemptions. The general salary information category includes slots for pay cycles and rates and salary or wage amounts. Non-tax deductions includes health insurance premiums, and other pre-tax deductions include items such as contributions to retirement plans.
The payroll tax category calculates all the applicable taxes deducted from the paycheck, including federal withholding taxes, Social Security, Medicare and disability insurance taxes, as shown in Paycheck Manager. This section also shows the state and local taxes withheld, if applicable. There is also a slot in this section for any miscellaneous withholding amounts, which can be inserted manually. The final category can also be entered manually. After-tax deductions are the last items to be taken out of the paycheck before getting the net amount of the paycheck.