attribute Texas Paycheck Calculator Please enter the following information: Federal Tax: State Tax: Medicare Tax: Social Security Tax: Gross Income: Result: function calculatePaycheck(){ var federalTax = parseFloat(document.getElementsByName("federalTax")[0].value); var stateTax = parseFloat(document.getElementsByName("stateTax")[0].value); var medicareTax = parseFloat(document.getElementsByName("medicareTax")[0].value); var socialSecurityTax = parseFloat(document.getElementsByName("socialSecurityTax")[0].value); var grossIncome = parseFloat(document.getElementsByName("grossIncome")[0].value); var totalTax = federalTax + stateTax + medicareTax + socialSecurityTax; var netIncome = grossIncome - totalTax; document.getElementsByClassName("calculation-result")[0].innerText = "Net Income: $" + netIncome.toFixed(2); } document.getElementsByTagName("form")[0].addEventListener("submit", function(event){ event.preventDefault(); calculatePaycheck(); }); How to Use a Texas Paycheck Calculator If you're an employee within the state of Texas, it's important to understand how taxes work when it comes to your paycheck. Fortunately, there are many helpful tools available to make calculating how much you'll owe—or how much you'll receive—much easier. Among the most useful of these tools is a Texas paycheck calculator. To help guide you through the process of using a Texas paycheck calculator, here's a comprehensive look at how these calculators work and how they can help you make the most of your paychecks. What is a Texas Paycheck Calculator? As the name implies, a Texas paycheck calculator is a useful tool that helps you calculate how much money you're entitled to receive from your employer in your paychecks. It also helps you determine your tax liability for each pay period. Having a good understanding of both of these numbers can be essential for budgeting your money properly. How Does a Texas Paycheck Calculator Work? Texas paycheck calculators are quite simple to use. Most of these calculators require you to input the number of hours you've worked in the past pay period, your gross wages, any deductions you're entitled to, and the type of taxes you're expected to pay. Once the calculator has all of this information, it runs through its algorithms and determines how much money you should receive in your upcoming paycheck. This number is your “net pay,” and it will differ each period depending on the number of hours worked and deductions taken. Non-Cash Benefits Another important factor to consider when using a Texas paycheck calculator is the value of all the non-cash benefits you're receiving from your employer. This could include health insurance, 401(k) matching contributions, any tuition assistance you may be eligible for, and much more. Be sure to account for these benefits when inputting your paycheck information into the calculator, as this can greatly affect your net pay. Taxes When inputting your information into the Texas paycheck calculator, you'll also be asked to specify the various tax implications that affect your paycheck. This includes income taxes, Social Security, Medicare, and any other applicable taxes. Each of these taxes are calculated separately, and the total amount of all these taxes will be automatically deducted from your gross wages to determine the total amount of money you'll receive in your paycheck. Minimum Wage Laws Texas is one of many states that has adopted a minimum wage law. This law dictates the minimum amount employers can pay their employees for hourly and salaried work. When using the Texas paycheck calculator, be sure to input your wages accordingly, as wages that are lower than the minimum wage are considered illegal. Furthermore, consider any certain exemptions you may qualify for in regards to the minimum wage law. The Bottom Line Using a Texas paycheck calculator is a great way to get a better understanding of how your paychecks are calculated. Just make sure to consider any deductions or non-cash benefits you're receiving from your employer, as well as the applicable taxes that will be deducted from your gross wages. Doing this will help ensure that you understand the true value of each paycheck and can help you budget your finances accordingly.