How to calculate your net paycheck in the state of Tennessee

You'll learn how to calculate your net paycheck if you live in the state of Tennessee and have no special deductions (such as insurance, retirement, child support, or levies)

Difficulty: Moderate

Instructions

Things You'll Need:

• to know if you are paid weekly, biweekly, semi-monthly, or monthly
• to know how many hours you worked during the pay period
• to know how much you make per hour
• calculator

1. Multiply the number of hours you had during the pay period by your hourly wage (hours x pay rate). This will equal your gross wages

2. Multiply your gross wages by 1.45%. This will equal your medicare tax.

3. Multiply your gross wages by 6.2%. This will equal your social security tax.

4. Go to the following web page: http://www.irs.gov/pub/irs-pdf/p15t.pdf
   (If you are not familiar using the IRS withholding tax tables, please refer to their instructions on page 3 of the booklet)

5. Find the corresponding federal withholding tax for your gross wages in the IRS Publication 15-T.

6. Subtract your medicare tax (step 2), your social security tax (step 3), and your federal withholding tax (step 5) from your gross wages (gross wages - medicare tax - social security tax - federal withholding tax). This will equal your net pay.

Tips & Warnings

• If you have earned more than the wage limits for social security during the tax year, you will not have any withheld
• This is a general guideline on how to calculate your net paycheck, and does not make any guarantees regarding the amount you will receive on your paycheck
• This ehow does not address additional items which may be withheld from your paycheck including, but not limited to: state withholding, advances, child support, levies, uniform fees, retirement programs, and health insurance.