Your Paycheck In 2021

Magnus Kettner: Puzzled - Winslow Mail, 6 March 2020, via Library of Congress

Happy 2021! As we officially put 2020 behind us, it's time to look forward to puzzle out what your paycheck will look like this year after the U.S. government has bitten off a chunk from it.

We're starting with the assumption that a significant number of Americans haven't filed new W-4 tax witholding forms to take advantage of the simpler withholding rules that took effect in 2020. If that situation applies for you, our 2021 tool can accommodate your situation, but you will likely find the newer rules let you keep more of the money you earned from working. Better still, you can use our tool to test drive how your paycheck would change if you did file a new W-4 with your employer.

This year's tool is also set up to capture any big changes you may have made in your job. Is this the year that you'll crank up how much money you might invest in a pre-tax 401(k) retirement account at work? Does your employer offer health or dependent care pre-tax flexible spending accounts that you might use this year? What if you get a raise sometime during the year?

Our 2021 paycheck tool can help you find out how the answers to these questions can affect your paycheck and more! If you're reading this article on a site that republishes our RSS news feed, please click through to our site to access a working version of the tool. Otherwise, just start entering whatever numbers you want to consider for what your paychecks might look like in 2021.

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