David Goldstein deleted answer April 20, 2018
Take home pay is the money that you actually receive from your salary after employment taxes, benefits, and retirements contributions are subtracted. To calculate your take home pay take your monthly gross income and subtract federal income tax, Social Security and Medicare taxes, state and local income taxes, monthly health and dental insurance premiums, 401(k) contributions, and contributions to a flexible spending account. The money left over after all these deductions is known as your take home pay, and what you actually have available to pay bills, buy groceries, and make all other purchases. Because of all these deductions, your take home pay often differs significantly from your gross pay. When considering a job or promotion it is important to look at what your monthly take home pay will be and not your gross pay. The take home pay is the amount you will actually have to live on each month.
