Download Paycheck Calculator Excel Template

Contents

Popular Categories in Excel Template
Trednding in Excel Template

College Student Budget

Preparing to attend college can be daunting, especially when it comes to the matter of …

Read More

Depreciation Calculator template

Depreciation Calculator is an excel template to calculate Straight-Line as well as Diminishing Balance Depreciation …

Read More

Software Inventory Tracking

Tracking software inventory and performing other computer inventory tasks can be a headache for any …

Read More

Billing Statement

This billing statement template can be used for invoice tracking, simple customer account management, and general billing. Although not as …

Read More
Search
Generic filters

Use our Free Paycheck Calculator spreadsheet to estimate the effects of deductions, holdings, federal tax, and allowances on net take-home pay. Most online paycheck calculators, using our spreadsheet will allow you to save your results.

Take home pay calculator

Calculate your Net Take Home Pay using this Paycheck Calculator for Excel. Answer questions such as:

  • How do the number of allowances can affect the federal tax withholdings?
  • How much will my take-home pay change if I contribute more than 401(k)?

Some Notes About the New W-4 Form

Here are some notes about the differences with the new W-4 form that I learned as I created the new calculator.

  • The New W-4 form is more complicated but designed to help you in estimate your tax withholding more accurately.
  • The New W-4 form eliminated the concept of “Allowances” but added in the option to specify dollar amounts for other income, additional deductions, dependents, and extra holding.
  • The amount from Step 3  is subtract and the federal tax withholding is calculate, unlike deductions which is subtract from the gross wage prior to the calculation.
  • For the New W-4, the federal tax in tables have the standard deduction built into them. There is a new table for Head of Household.
  • If Box 2(c) is check, then the federal tax is calculate using the “HIGHER” withholding tables, which is design to withhold tax base on assumption that the second job is earning similar pay.
  • Read the W-4 carefully. Most of what you need to know is on there.

Paycheck Calculator online

– Use the worksheet corresponding to the W-4 form.

– Enter your Gross Payment for monthly, semi-monthly, biweekly, or weekly pay periods.

– Federal tax is calculated from tables in IRS Publication 15.

– FICA Social Security Tax and Medicare is calculate on percentage of your Gross Pay.

– State and Local taxes are estimated by multiplying the federal taxable in gross by a percentage that you input.

– Read the cell comments for more information for an input or calculation.

To use this free Excel Template, you should have Microsoft Office/ Microsoft Excel. You can only use this template if you have these applications in your system. or Use, Google Sheets. 

After installing Excel or Spreadsheet, download the xlsx file of this template to use it

Once extracted, you can open the file using Excel and start entering data or customizing the template.

Click The Button Below To Download Paycheck Calculator Excel Template

Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Popular Excel Templates: