Wisconsin Paycheck Calculator
Use this calculator to estimate your net pay per pay period in Wisconsin, factoring in federal and state income taxes, FICA contributions, and common deductions. Please note that this calculator provides estimates and should not be considered official tax advice. Actual withholdings may vary based on specific tax situations, additional credits, and local taxes not included here.
Federal Withholding Information
Wisconsin Withholding Information
Deductions
Estimated Paycheck Breakdown
Gross Pay: $0.00
Federal Income Tax: $0.00
Wisconsin State Income Tax: $0.00
FICA (Social Security & Medicare): $0.00
Pre-tax Deductions: $0.00
Post-tax Deductions: $0.00
Net Pay: $0.00
Understanding Your Wisconsin Paycheck
A paycheck calculator for Wisconsin helps you estimate how much money you'll actually take home after various deductions and taxes are applied to your gross earnings. Understanding these components is crucial for budgeting and financial planning.
Gross Pay
Your gross pay is the total amount of money you earn before any deductions or taxes are withheld. This is typically your hourly wage multiplied by the hours worked, or your salary divided by your pay periods.
Federal Income Tax
Federal income tax is levied by the U.S. government based on your income, filing status, and the number of dependents you claim. The U.S. uses a progressive tax system, meaning higher earners pay a larger percentage of their income in taxes. The amount withheld from each paycheck is an estimate based on the information you provide on your W-4 form.
Wisconsin State Income Tax
Wisconsin has its own state income tax, which is also progressive. The tax rates and brackets for Wisconsin residents depend on your taxable income and filing status (single, married filing jointly, etc.). Wisconsin also offers personal exemptions, which reduce your taxable income or provide a credit, depending on the year and specific rules.
FICA Taxes (Social Security & Medicare)
FICA stands for the Federal Insurance Contributions Act, which funds Social Security and Medicare. These are mandatory payroll taxes:
- Social Security: This tax is 6.2% of your gross wages, up to an annual wage base limit (e.g., $168,600 for 2024). Your employer also pays an equal 6.2%.
- Medicare: This tax is 1.45% of all your gross wages, with no income limit. Your employer also pays an equal 1.45%.
These taxes contribute to your future retirement, disability, and healthcare benefits.
Deductions
Deductions are amounts subtracted from your gross pay. They can be categorized as pre-tax or post-tax:
- Pre-tax Deductions: These are taken out of your pay before income taxes are calculated, effectively reducing your taxable income. Common examples include contributions to a 401(k) or 403(b) retirement plan, health insurance premiums, and Flexible Spending Accounts (FSAs).
- Post-tax Deductions: These are taken out after all applicable taxes have been calculated and withheld. Examples include Roth 401(k) contributions, union dues, charitable contributions, or garnishments.
Net Pay
Your net pay, or "take-home pay," is the amount remaining after all federal taxes, state taxes, FICA taxes, and other deductions have been subtracted from your gross pay. This is the money you receive in your bank account or as a physical check.
How to Use the Calculator
- Enter Gross Pay per Period: Input your total earnings for one pay period before any deductions.
- Select Pay Frequency: Choose how often you get paid (e.g., bi-weekly, monthly).
- Provide Federal Withholding Info: Select your federal filing status and the number of dependents you claim on your W-4.
- Provide Wisconsin Withholding Info: Select your Wisconsin filing status and the number of exemptions you claim.
- Enter Deductions: Input any pre-tax and post-tax deductions you have per pay period.
- Click "Calculate Paycheck": The calculator will then display an estimated breakdown of your taxes, deductions, and net pay.
Disclaimer: This calculator provides estimates based on simplified tax rules and common deductions for the current tax year (2024 rates used for example). It does not account for all possible tax credits, local taxes, or unique financial situations. For precise tax advice, please consult with a qualified tax professional or refer to official IRS and Wisconsin Department of Revenue resources.