The Net Income Calculator calculates your net income, i.e, your take home pay. If you
choose Hourly pay, the Income calculator converts your hourly pay into
yearly gross income and subtracts the federal taxes( 2009 federal tax rates are
used).Alternatively,you can also choose to provide your yearly gross pay, to find out your net
income.
The following are the federal tax rates used to calculate your net income
|
From |
To |
Tax Rates |
|
$0 |
$8,350 |
10% |
|
$8,351 |
$33,950 |
15% |
|
$33,951 |
$82,250 |
25% |
|
$82,251 |
$171,550 |
28% |
|
$171,551 |
$372,950 |
33% |
|
$372,951 |
no limit |
35% |
For more information on taxes, please see the
Internal Revenue Service
website.