W-2 Income Analyzer
Understand your W-2 boxes, check withholding, and plan smarter take-home pay
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W-2 Income Analyzer
Decode every box on your W-2, see if you're over- or under-withholding, compare multiple jobs, and quantify the tax savings from pre-tax payroll benefits.
Gross pay (estimate)
$78,000
Taxable wages (Box 1)
$72,000
Total taxes withheld
$16,967
Estimated take-home pay
$61,033
W-2 box explanations
Box 1: Wages, Tips, Other Compensation
$72,000
This is the taxable wage amount reported to the IRS after pre-tax deductions.
Box 2: Federal Income Tax Withheld
$8,200
Total federal income tax already paid via paycheck withholding.
Box 3: Social Security Wages
$78,000
Wages subject to Social Security tax before 401(k) contributions.
Box 4: Social Security Tax Withheld
$4,836
6.2% of Social Security wages (Box 3) up to the annual wage base.
Box 5: Medicare Wages and Tips
$78,000
Wages subject to Medicare tax. Often equals Box 3 unless pre-tax deductions differ.
Box 6: Medicare Tax Withheld
$1,131
1.45% of Medicare wages (Box 5). High earners pay an additional 0.9%.
Box 16: State Wages, Tips, etc.
$72,000
Wages reported to your state for income tax purposes.
Box 17: State Income Tax
$2,800
Total state income tax withheld from paychecks.
Withholding mix
Federal effective rate: 11.4% · Total taxes: 22.9%
Box 1 is lower than Social Security/Medicare wages, indicating pre-tax payroll deductions (401(k), HSA, etc.).
Understand your W-2 boxes, check withholding, and plan smarter take-home pay
Walk through the tabs to decode each W-2 box, optimize next year's withholding, combine multiple jobs, and measure the impact of pre-tax benefits.
Key Financial Terms
Understand the essential concepts behind this calculator
W-2 Form
An annual tax document from employers showing your total wages and taxes withheld for the year.
AGI (Adjusted Gross Income)
Your total gross income minus specific deductions, used to determine tax liability and eligibility for credits.
Effective Tax Rate
Your actual tax rate—total taxes paid divided by total income. Lower than marginal rate because of brackets and deductions.
Marginal Tax Rate
The tax rate applied to your last dollar of income—the rate you pay on additional earnings.
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⚠️ Important Disclaimer
This W-2 Income Analyzer provides estimates for educational and informational purposes only. Actual results may vary significantly based on individual circumstances, market conditions, regulatory changes, and other factors beyond the scope of this calculator.
The calculations and projections provided are based on assumptions and historical data that may not reflect future performance.Past performance does not guarantee future results.
This tool is not financial advice, tax advice, legal advice, or investment advice. For personalized guidance tailored to your specific situation, please consult with qualified professionals including:
- Certified Financial Planner (CFP)
- Certified Public Accountant (CPA) for tax matters
- Licensed attorney for legal matters
- Registered Investment Advisor (RIA) for investment decisions
Data Accuracy: All data sources, statistics, and rates were verified as accurate as of October 2025. Tax rates, market conditions, and other financial data change over time. Always verify current rates and consult official sources.
No Warranties: While we strive for accuracy, we make no warranties or guarantees regarding the accuracy, completeness, or reliability of any information provided. Use this tool at your own risk.