This Paycheck Calculator or free paycheck calculator can be used to estimate the actual paycheck amount brought home after taxes and deductions from salary. This calculator is intended for use by U.S. residents and can also be used to help fill steps 3 and 4 of a W-4 form. The calculation is based on the new W-4 which in 2020, has had its first major change since 1987and the 2021 tax brackets. free paycheck calculator