Net Income Calculator
Calculate your net income after federal tax and FICA using 2026 IRS data. Choose standard or itemized deductions.
Gross vs Net Income
Gross income is your total income before any deductions. Net income is what remains after federal income tax, FICA taxes, and other deductions are subtracted. Most workers have 20–30% deducted between federal, FICA, and state taxes combined. Knowing your net income is essential for budgeting and financial planning.
Standard vs Itemized Deductions
In 2026, the standard deduction is $15,000 (single), $30,000 (married filing jointly), and $22,500 (head of household). Most taxpayers benefit from taking the standard deduction. You should only itemize if your deductible expenses exceed the standard amount — most commonly if you have a large mortgage or significant state taxes (capped at $10,000 SALT).
FICA: The Hidden Tax
FICA (Social Security + Medicare) is 7.65% of gross wages and is often overlooked in tax planning. Unlike income tax, FICA is not reduced by deductions. High earners see SS stop at $176,100 but Medicare continues — and adds an extra 0.9% above $200,000. These taxes are automatically withheld before you see your paycheck.