17 January 2018

The Bottom Line for Your 2018 Paycheck After the Tax Cuts

Pay Advice Example - Source: U.S. Department of Labor - https://blog.dol.gov/sites/blog.dol.gov/files/images/2015/01/johnsmith.jpeg

How much will your net take home pay change because of the Tax Cuts and Jobs Act of 2017 becoming law?

This is the third of three tools that we've built to do paycheck-related math in 2018, and is the only one that goes straight to the bottom line in showing how different your take home pay may be because of the new tax law. If you want greater detail into all the major parts of where your money goes in your paycheck, be sure to check out the previous two tools that we've developed:

In this version, we've stripped down the inputs and outputs to just the bare essentials, just to get at the bottom line answer that many Americans are seeking. Please enter the indicated information into the table below, click "Calculate" to get your results, and hopefully, you'll be pleased by the results. [If you're reading this article on a site that republishes our RSS news feed, please click through to our site to access a working version.]

Your Paycheck and Tax Withholding Data
Category Input Data Values
Basic Pay Data Current Annual Pay
Pay Period
Federal Withholding Data Filing Status
Number of Withholding Allowances
401(k) or 403(b) Contributions Pre-Tax Contributions (%)
After Tax Contributions (%)
Flexible Spending Account Annual Contribution Data Health Care Spending Account
Dependent Care Spending Account

Federal Income Tax Withholding Estimates
Calculated Results Values
Before 2018's Tax Cuts Take Effect
After 2018's Tax Cuts Take Effect
How Each of Your Paychecks Will Change (Positive if increase, Negative if decrease)
Change Multiplied Over All Paychecks for an Entire Year
Equivalent Tax-Free "Raise" With Respect to Annual Income

Previously on Political Calculations

We've been in the business of calculating people's paychecks (not including state income tax withholding) since 2005!