FinanceReviewed Methodology
Paycheck Calculator
This paycheck calculator estimates gross and net pay from hourly rate, regular hours, overtime, and tax rate.
Quick answer
Regular pay is hourly rate times regular hours.
What this tells you
- •Regular pay is hourly rate times regular hours.
- •Overtime pay applies overtime multiplier.
- •Net pay is gross pay minus estimated taxes.
How to Use
- 1Enter hourly rate and regular hours worked.
- 2Enter overtime hours and multiplier if applicable.
- 3Enter estimated tax rate.
- 4Calculate for gross and net pay breakdown.
How It Works
Formula
Gross = (Rate x Regular Hours) + (Rate x Overtime Multiplier x Overtime Hours)
Tax = Gross x Tax Rate
Net = Gross - TaxThe calculator combines regular and overtime earnings, then applies an estimated tax deduction.
Calculation note: values are processed in the order shown above, using the current input units.
Worked Examples
Weekly paycheck with overtime
Rate$25
Hours40
Overtime5
Multiplier1.5
Tax20%
Result$950.00 net pay
Common mistakes
- Entering tax as decimal instead of percent
- Using wrong overtime multiplier
- Ignoring pre-tax deductions not modeled here
Limitations
This paycheck estimate uses a simplified tax-rate model and does not include jurisdiction-specific withholding rules, benefits, retirement deductions, or payroll adjustments.
Frequently Asked Questions
No, it is an estimate and does not replace payroll software or local tax rules.
Yes, you can adjust overtime multiplier.
No, only a simple tax-rate deduction is modeled.