Wisconsin Paycheck Calculator

How to Use the Wisconsin Paycheck Calculator

This guide will walk you through the steps necessary to effectively use the Wisconsin Paycheck Calculator to evaluate your take-home pay. Follow these instructions carefully to input your details and calculate your paycheck accurately.

Step 1: Set Your Pay Frequency

Begin by selecting your Pay Frequency from the options provided. These options include:

• Weekly
• Bi-Weekly
• Semi-Monthly
• Monthly

This selection is crucial as it determines how frequently you receive your salary, which in turn affects the calculation of annual values like gross and net pay.

Step 2: Enter Your Gross Pay Per Period

Next, input your Gross Pay Per Period. This is the total amount of money you earn before taxes and deductions for each pay period. Ensure that you enter a value that is equal to or greater than zero, and be as accurate as possible to receive precise results.

Step 3: Select Your Filing Status

Choose your Filing Status from the available options. The filing status options include:

• Single
• Married
• Married, Withhold at Higher Single Rate

Your selection in this field influences the amount withheld for federal taxes.

Step 4: Add Federal Allowances

Enter the number of Federal Allowances you claim on your W-4 form. This number must be zero or a positive whole number. Allowances reduce the amount of taxes deducted from your paycheck, and thus this figure directly impacts your net pay.

Step 5: Specify Additional Federal Withholding

If you have chosen to have extra funds withheld from your pay for federal taxes, input this number under Additional Federal Withholding. This amount is optional, but if applicable, it should be a non-negative number.

Step 6: Calculate Your Paycheck

With all necessary fields completed, the calculator will automatically compute various components of your paycheck, including:

• Federal Withholding: Calculated as a percentage of your annualized gross pay, divided by your pay frequency.
• Social Security: Computed as a percentage of your gross pay, with a cap based on annual limits.
• Medicare: Calculated as a set percentage of your gross pay.
• Wisconsin State Withholding: Determined by the state tax percentage applied to your annualized gross pay, divided by your pay frequency.
• Net Pay: Your gross pay minus all deductions, including federal, state, Social Security, Medicare, and any additional withholdings.
• Annual Gross Pay: Your gross pay input, multiplied by your pay frequency.
• Annual Net Pay: Your net pay, multiplied by your pay frequency.

The results are displayed in a currency format with two decimal places, providing an accurate description of your take-home pay and deductions per period and annually.