Top 3 Online Payroll Tax Calculators

May 7th 2016

Online payroll tax calculators provide good ways to estimate tax withholdings, net pay and deductions. Actual figures may vary from these estimates. Employers and employees should consult with a tax professional or a certified public accountant to determine actual payroll calculations for tax purposes.

Bankrate.com

Bankrate.com's payroll tax calculator helps determine how much taxes someone should pay after taking into account pre-tax retirement deductions. Taxpayers who contribute to a 401(k), 457 or 401(b) retirement plan save on income taxes while they still work and pay less taxes on the retirement benefits later. Bankrate.com compares a current paycheck with a new paycheck when employees add or remove deductions or when their income, state taxes or number of dependents change. Users can run scenarios using a sliding scale or by inputting data. Individuals click Calculate to see what happens to payroll taxes before and after the changes. You can click Report to see a circle graph that shows what portion of a paycheck goes towards net income, taxes and pre-tax withholdings.

ADP

ADP's salary paycheck calculator estimates someone's net income after withholding and taxes. Individuals select the tax year and a state from a drop-down menu. Taxpayers then input numbers for gross pay, additional federal withholdings and deductions. Check boxes are used to indicate whether or not someone is exempt from federal, FICA or Medicare taxes. Employees may also include voluntary deductions as a percentage of gross pay. Users click Calculate to determine net pay after taxes.

ESmart Paycheck Calculator

Taxpayers can input tax year data back to 2009 with eSmart Paycheck's online calculator. They can select the state from a drop-down menu and then input dollar figures for earnings, deductions and other taxes. Users may add extra lines for taxes and withholdings not included in the standard form. Employees click Calculate to determine the overall net pay. People may register with this website to save various calculations for later reference.

Conclusion

Employers withhold a certain amount of payroll taxes and deductions from an employee's paycheck as part of the income tax collection process. Several factors determine how much gets taken out of an employee's gross pay, including Social Security tax, Medicare tax, filing status, dependents and pre-tax deductions. Some financial companies and payroll specialists have payroll tax calculators on their websites to help employers and employees figure out the correct amount of money to withhold.

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