# Download Paycheck Calculator Template In Excel

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.

#### Download this Paycheck Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Paycheck Calculator Excel Template

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Paycheck Calculator Template

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