The more advanced home economizers among us like to understand how much take home pay we receive after taxes to figure out how much money is left over to spend on our spouses and families.
The Net Paycheck Tax Calculator is amongst the dozens of iPhones apps available that can do this for you, although the process can be overly taxing.
The 99-cent app allows you to put in a gross income figure, decide the length of the pay period, plug in some tax information and find out what your net income is after taxes.
In other words, it functions exactly like the paystub you receive from your job.
There are also more specific calculations available, including the amount of overtime you worked as well as pre and post tax deductions. The overtime calculator doesn’t seem to display without the user choosing the option to withhold no taxes. This step makes this function useless, unless users has difficultly calculating 1.5 times their hourly wages.
The best use for the Net Paycheck Tax Calculator might be for planning significant life events like getting married and having children as it can factor in those deductions and allowances as hypothetical figures.
In an odd choice for an app that doesn’t do very much as it is, the paycheck calculator asks you to plug in your own local and state tax percentages. Wouldn’t a state dropdown box would be a lot handier?
After all, by the time someone were to look up an old paystub to find out what their state tax percentage is, they might as well do the manual calculations by hand.
