Mandatory withholdings including federal income tax, state income tax (if applicable), Social Security (6.2%), and Medicare (1.45%).
Roth 401(k) contributions, garnishments, and life insurance premiums. 3. Key Factors Affecting Your Paycheck Take Home Pay
To calculate your take-home pay, follow this formula: Mandatory withholdings including federal income tax
401(k) contributions, medical/dental/vision insurance premiums, Flexible Spending Accounts (FSAs), and Health Savings Accounts (HSAs). state income tax (if applicable)
Your total earnings before taxes and deductions (annual salary divided by pay periods, or hourly rate × hours worked).
Voluntary or required contributions like health insurance premiums, 401(k) retirement plans, or union dues. 2. Examples of Deductions