How do you calculate take-home pay?

The calculation of take home pay is the actual amount calculation of how much you will be credited on a job done well.

Step-by-step explanation:

Before calculation, things to be taken care of are -

Gross pay amount Personal exemptions Tax status Deductions of payroll

Now knowing these much in exact form of amount, we may proceed to calculation -

The annual income according to the gross pay amount is calculated by simply multiplying the gross pay amount to 12. The FICA tax percentage is known according to the tax slab of your annual income, so determine the FICA tax percent amount Other Personal Exemptions with Standard Deduction and Pay Roll Deductions are to be calculated Sum up all the taxable income and non taxable income separately, and deduct the amount of tax from the taxable income. The left over amount now shown is the annual income. Divide the annual income after the tax deduction by 12 to know the take home pay for monthly basis.