Tax Withholding Estimator

Formulas Used

2020+ W-4 (IRS Pub 15-T Percentage Method):

1. Annualized Gross = Gross Pay × Pay Periods
2. Adjusted Annual Wage = Annualized Gross + Other Income (Step 4a)
3. Taxable Income = Adjusted Annual Wage − Standard Deduction* − Extra Deductions (Step 4b)
4. Tentative Annual Tax = Apply 2024 progressive brackets to Taxable Income
5. Annual Tax = max(0, Tentative Tax − Dependent Credits (Step 3))
6. Per-Period Withholding = (Annual Tax ÷ Pay Periods) + Extra Withholding (Step 4c)

*If Multiple Jobs box checked, standard deduction is halved per IRS instructions.

Pre-2020 W-4 (Allowance Method):

1. Allowance Deduction = Number of Allowances × $4,300 (2024 value)
2. Taxable Income = Annualized Gross − Allowance Deduction
3. Annual Tax = Apply 2024 progressive brackets
4. Per-Period Withholding = (Annual Tax ÷ Pay Periods) + Additional Withholding

2024 Federal Tax Brackets (Single / MFS): 10% ≤ $11,600 | 12% $11,601–$47,150 | 22% $47,151–$100,525 | 24% $100,526–$191,950 | 32% $191,951–$243,725 | 35% $243,726–$609,350 | 37% > $609,350

FICA: Social Security = 6.2% on wages up to $168,600 (2024 wage base); Medicare = 1.45% on all wages; Additional Medicare = 0.9% on wages over $200,000 (single) / $250,000 (married).