Paycheck Calculator is an app that helps users calculate their net income after taxes. The app was created to solve the problem of knowing how much money one will make after taxes. It does this by computing formulas given by the IRS based on the 2020 brackets and adding variables related to social security, medicare, and other federal deductions. The app also allows users to add customized deductions, such as a 401k contribution, an HSA addition, and child-care, among others. Additionally, the app contains a few additions to state taxes, which are automatically deducted after the user selects their location.

Overtime is a common concept, and the app allows users to add inputs related to overtime, such as double-overtime, in simple visible cards. The app also includes a small slider to input any number from 0 to more than 10 allowances, which is used to calculate the net income. The app allows users to add any kind of extra income, pre-tax or after-tax, tips received, bonuses, commissions, and extra money based on performance.

The tax calculator allows users to customize all these inputs in a yearly or hourly setup, which can be calculated in different pay periods, such as daily, bi-weekly, semimonthly, quarterly, yearly, etcetera. All the numbers are quickly calculated in real-time in a single page layout. The app is designed to be simple and can be quickly pulled up on the phone, with a previous calculation saved, and deductions computed as soon as a single number is changed.

It is important to note that the application does not give legal tax advice and is merely informative. All the calculations are done locally on the device based on brackets already loaded up, and the app has no way of looking at the information entered. The app is a useful tool for anyone who wants to know how much money they will make after taxes and wants to customize their deductions and extra income.

In conclusion, Paycheck Calculator is a helpful app that solves the problem of knowing how much money one will make after taxes. The app allows users to customize their deductions and extra income, and the tax calculator allows users to calculate their net income in different pay periods. The app is simple and can be quickly pulled up on the phone, with a previous calculation saved, and deductions computed as soon as a single number is changed.