How to Calculate Monthly Net Pay

Written by melvin richardson
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How to Calculate Monthly Net Pay
To calculate net pay you will need all deduction amounts handy. (financial calculations image by Albert Lozano from Fotolia.com)

Your net pay is the amount of money you take home, every pay period, after all deductions have been taken out. To learn how to efficiently and effectively budget your money you need to know what your take-home pay is. A wage calculator can calculate your monthly net pay. You will need the amounts of all deductions per pay period, including voluntary deductions such as savings and retirement account transactions.

Skill level:
Moderately Easy

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Things you need

  • Salary calculator

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Instructions

  1. 1

    Select the number of federal allowances by entering the appropriate number. If you have any additional federal withholdings, enter the amount in the next category. Select one of the three items you may be exempt from such as federal tax, FICA and Medicare.

  2. 2

    Determine your filing status, under state and local information for your state, by clicking on the drop-down box and making the appropriate selection. If you have any exemptions, enter the number in the next box. The next box provides an opportunity to list any additional state withholding other than what is listed on your W-4 form. Find out the county tax per cent and enter it into the next box.

  3. 3

    Fill out the voluntary deduction section and then hit the "Calculate" button. You will receive a calculation for your net pay on the left side of the calculator near the bottom.

Tips and warnings

  • If you don't understand any of the categories listed on the left side of the calculator, click on the term and information for that category will be displayed on the left side.
  • If you need to start over, hit the "New Calculation" button, which appears when your net pay is calculated on a new page, and start over.

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