Tax Withholding Estimator
Estimate your federal income tax withholding per paycheck based on IRS Publication 15-T (2024) wage bracket and percentage method tables.
Formulas Used
2020+ W-4 (IRS Pub 15-T Percentage Method):
- Annualized Gross = Gross Pay × Pay Periods
- Adjusted Annual Wage = Annualized Gross + Other Income (Step 4a)
- Taxable Income = Adjusted Annual Wage − Standard Deduction* − Extra Deductions (Step 4b)
- Tentative Annual Tax = Apply 2024 progressive brackets to Taxable Income
- Annual Tax = max(0, Tentative Tax − Dependent Credits (Step 3))
- Per-Period Withholding = (Annual Tax ÷ Pay Periods) + Extra Withholding (Step 4c)
*If Multiple Jobs box checked, standard deduction is halved per IRS instructions.
Pre-2020 W-4 (Allowance Method):
- Allowance Deduction = Number of Allowances × $4,300 (2024 value)
- Taxable Income = Annualized Gross − Allowance Deduction
- Annual Tax = Apply 2024 progressive brackets
- Per-Period Withholding = (Annual Tax ÷ Pay Periods) + Additional Withholding
2024 Federal Tax Brackets (Single / MFS): 10% ≤ $11,600 | 12% $11,601–$47,150 | 22% $47,151–$100,525 | 24% $100,526–$191,950 | 32% $191,951–$243,725 | 35% $243,726–$609,350 | 37% > $609,350
FICA: Social Security = 6.2% on wages up to $168,600 (2024 wage base); Medicare = 1.45% on all wages; Additional Medicare = 0.9% on wages over $200,000 (single) / $250,000 (married).
Assumptions & References
- Based on IRS Publication 15-T (2024) — Federal Income Tax Withholding Methods.
- 2024 standard deductions: Single/MFS $14,600 | MFJ $29,200 | HOH $21,900 (IRS Rev. Proc. 2023-34).
- 2024 Social Security wage base: $168,600 (SSA announcement).
- 2024 withholding allowance value: $4,300 per allowance (IRS Pub 15-T Table 1).
- Estimates federal withholding only — state/local taxes, pre-tax deductions (401k, HSA, health insurance) are not included.
- Does not account for tax credits other than the dependent credit entered in Step 3.
- Results are estimates. Use the official IRS Tax Withholding Estimator for precise calculations.
- Consult a tax professional for personalized advice.