Methodology & Sources

Last updated October 21, 2026

Federal income tax (2026)

Progressive brackets and standard deductions published by the IRS for tax year 2026: standard deduction $16,100 (single), $32,200 (married filing jointly), $24,150 (head of household). Brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37% with thresholds shown on the take-home calculator. Source: IRS inflation adjustments for tax year 2026.

FICA

Social Security 6.2% employee share on wages up to $184,500 (2026 wage base, SSA); Medicare 1.45% on all wages plus Additional Medicare Tax of 0.9% above $200,000 (single) / $250,000 (MFJ). Self-employment tax: 15.3% on 92.35% of net earnings.

Retirement and HSA limits (2026)

401(k) employee deferral $24,500 (+$8,000 catch-up at 50+); IRA $7,500 (+$1,100); HSA $4,400 self-only / $8,750 family.

Wage benchmarks

Mean annual wage for all occupations $69,770 — BLS Occupational Employment and Wage Statistics, May 2025. U.S. median household income $55,775 (2015) — U.S. Census Bureau, American Community Survey.

Simplifications

Annual tax liability is estimated; payroll withholding can differ.
State and local tax is applied as a single flat rate you choose.
Credits (e.g., Child Tax Credit, EITC) and itemized deductions are not modelled.
2,080 hours per year is used for hourly conversions unless you change it.

Review cycle

Figures are reviewed every October–January when new-year limits are announced, and whenever tax law changes. Spotted an error? Tell us.