Toolkit Shelf

Money Calculators

Paycheck Calculator

Use this paycheck calculator to estimate gross and take-home pay from hourly rate, weekly hours, overtime, tax estimate, and pay frequency.

Reviewed May 25, 2026EstimateFormula shown

Live calculator

Paycheck calculator

Gross paycheck$2,240.00

26 paychecks per year.

Estimated take-home$1,747.20

Gross paycheck minus the estimated tax rate.

Annual gross pay$58,240.00

Weekly gross pay is $1,120.00.

Formula

Paycheck formula

Gross paycheck = annual gross pay / pay periods; take-home = gross x (1 - tax rate)

This is a rough estimate and does not replace payroll or tax withholding calculations.

How to use

Steps

  1. Enter hourly rate and regular weekly hours.
  2. Add weekly overtime hours if they apply.
  3. Enter an estimated tax rate.
  4. Choose pay frequency to estimate each paycheck.

Example

Sample calculation

Hourly rate$28
Schedule40 hours/week
Pay frequencyBiweekly
Gross paycheck$2,240

Calculator use

Best for

  • Quick gross paycheck from hourly rate, regular hours and overtime hours.
  • Personal finance scenarios before changing a budget, loan, savings goal, or purchase plan.
  • Monthly cash flow, affordability, debt payoff, or future-value estimates.
  • Assumption checks before talking with a lender, tax preparer, employer, or financial professional.

Before relying on it

Check first

  • Entering hourly rate, regular hours and overtime hours from different time periods or scenarios.
  • Mixing gross income, take-home income, one-time costs, and monthly costs in the same comparison.
  • Forgetting taxes, fees, insurance, irregular bills, or minimum payments when using an estimate.
  • Treating a planning estimate as a quote, tax filing result, approval decision, or guaranteed return.

Benchmarks

How to read the result

The calculator is a decision aid, not a fixed rule. Use the output to compare scenarios and document your assumptions.

Weekly52 checks/year

Smaller but more frequent paychecks.

Biweekly26 checks/year

Common payroll schedule in the United States.

Monthly12 checks/year

Larger but less frequent paychecks.

Calculator accuracy

Methodology and assumptions

The formula, inputs, example, and limitations are shown so the result is checkable, not just a number in a box.

Formula

Gross paycheck = annual gross pay / pay periods; take-home = gross x (1 - tax rate)

Inputs used

Hourly rate, Regular hours, Overtime hours, Tax rate, Pay frequency

Limitations

Results are estimates for quick planning and should be checked before important financial, legal, tax, health, or business decisions.

Last reviewed

May 25, 2026

Cite this page

Toolkit Shelf. Paycheck Calculator. Retrieved May 25, 2026, from https://toolkitshelf.com/tools/paycheck-calculator

FAQ

Common questions

How do I estimate a paycheck?

Estimate annual gross pay, divide by pay periods, then subtract estimated taxes and deductions.

Does this calculate exact tax withholding?

No. It uses the tax percentage you enter as a rough estimate.

How is overtime estimated?

Overtime is estimated at 1.5 times the hourly rate for the overtime hours entered.