Paycheck with Bonus Calculator

Use this calculator to estimate your net (take-home) pay for a pay period that includes a bonus. It accounts for your regular gross pay, the bonus amount, and common deductions like federal income tax, state income tax, Social Security, Medicare, and other pre-tax or post-tax deductions.

Regular Gross Pay per Pay Period ($):
Bonus Amount ($):
Federal Income Tax Withholding Rate (%):
State Income Tax Withholding Rate (%):
Social Security Tax Rate (%):
Medicare Tax Rate (%):
Other Deductions (e.g., 401k, Health Insurance) ($):

function calculatePaycheckWithBonus() { var regularGrossPay = parseFloat(document.getElementById('regularGrossPay').value) || 0; var bonusAmount = parseFloat(document.getElementById('bonusAmount').value) || 0; var federalTaxRate = parseFloat(document.getElementById('federalTaxRate').value) || 0; var stateTaxRate = parseFloat(document.getElementById('stateTaxRate').value) || 0; var socialSecurityRate = parseFloat(document.getElementById('socialSecurityRate').value) || 0; var medicareRate = parseFloat(document.getElementById('medicareRate').value) || 0; var otherDeductions = parseFloat(document.getElementById('otherDeductions').value) || 0; // Calculate Total Gross Pay var totalGrossPay = regularGrossPay + bonusAmount; // Calculate Taxes var federalTaxWithheld = totalGrossPay * (federalTaxRate / 100); var stateTaxWithheld = totalGrossPay * (stateTaxRate / 100); var socialSecurityTax = totalGrossPay * (socialSecurityRate / 100); var medicareTax = totalGrossPay * (medicareRate / 100); // Calculate Total Deductions var totalDeductions = federalTaxWithheld + stateTaxWithheld + socialSecurityTax + medicareTax + otherDeductions; // Calculate Net Pay var netPay = totalGrossPay – totalDeductions; // Format results as currency var formatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', }); var resultDiv = document.getElementById('result'); resultDiv.innerHTML = `

Your Estimated Paycheck Details:

Total Gross Pay: ${formatter.format(totalGrossPay)} Federal Income Tax Withheld: ${formatter.format(federalTaxWithheld)} State Income Tax Withheld: ${formatter.format(stateTaxWithheld)} Social Security Tax: ${formatter.format(socialSecurityTax)} Medicare Tax: ${formatter.format(medicareTax)} Other Deductions: ${formatter.format(otherDeductions)} Total Deductions: ${formatter.format(totalDeductions)} Estimated Net Pay (Take-Home): ${formatter.format(netPay)} `; }

Understanding Your Paycheck with a Bonus

Receiving a bonus is always exciting, but understanding how it impacts your take-home pay can sometimes be confusing. This calculator helps you estimate your net pay when a bonus is included in your paycheck, taking into account various deductions.

What is Gross Pay?

Your Gross Pay is the total amount of money you earn before any deductions are taken out. When you receive a bonus, it's added to your regular gross pay for that pay period, increasing your total gross income for that specific check.

How are Bonuses Taxed?

Bonuses are considered supplemental wages by the IRS and are subject to federal income tax, Social Security, and Medicare taxes, just like your regular wages. State income tax also applies in most states. Employers typically use one of two methods to withhold federal income tax from bonuses:

Percentage Method: A flat 22% is withheld for bonuses up to $1 million.
Aggregate Method: The bonus is combined with your regular wages for the pay period, and tax is calculated on the total amount as if it were a single, larger paycheck. This often results in a higher withholding rate for that specific check.

This calculator simplifies the process by allowing you to input an estimated federal and state income tax withholding rate that will be applied to your combined regular gross pay and bonus amount. This rate should reflect the effective withholding you expect for that larger paycheck.

Key Deductions Explained:

Federal Income Tax Withholding: This is the amount withheld from your paycheck to cover your federal income tax liability. The percentage can vary based on your W-4 elections and the total gross pay.
State Income Tax Withholding: Similar to federal tax, this is withheld for state income taxes, applicable in most states. The rate depends on your state's tax laws and your withholding elections.
Social Security Tax: Part of FICA (Federal Insurance Contributions Act) taxes, this funds retirement, disability, and survivor benefits. The employee portion is typically 6.2% of your gross wages, up to an annual wage base limit.
Medicare Tax: The other part of FICA taxes, this funds hospital insurance for the elderly and disabled. The employee portion is typically 1.45% of all gross wages, with no wage base limit.
Other Deductions: This category includes various pre-tax or post-tax deductions such as contributions to a 401(k) or other retirement plans, health insurance premiums, life insurance, union dues, or other voluntary deductions.

Example Calculation:

Let's consider an example with realistic numbers:

Regular Gross Pay: $2,000
Bonus Amount: $500
Federal Income Tax Withholding Rate: 15%
State Income Tax Withholding Rate: 5%
Social Security Tax Rate: 6.2%
Medicare Tax Rate: 1.45%
Other Deductions: $150

Here's how the calculation would break down:

Total Gross Pay: $2,000 (Regular) + $500 (Bonus) = $2,500
Federal Tax: $2,500 * 15% = $375.00
State Tax: $2,500 * 5% = $125.00
Social Security Tax: $2,500 * 6.2% = $155.00
Medicare Tax: $2,500 * 1.45% = $36.25
Total Deductions: $375.00 + $125.00 + $155.00 + $36.25 + $150.00 = $841.25
Net Pay: $2,500 – $841.25 = $1,658.75

This calculator provides a helpful estimate. For precise figures, always refer to your official pay stub or consult with a tax professional.