First, calculate your TAKE HOME/NEI PAY . Firstly, you will deduct your 401K contributions. You must contribute 3%. Next, you will calculate your FICA andfederal income tax from your salary. o You will use a federal income worksheet first & then a separate worksheet to deduct your FICA taxes. Next, you will calculate yourstate tax. o If you plan to live in NY C there is also aity tax! Then, deduct$150/monthfor healthinsurance, dental insurance and any other employee sponsored fund or insurance. You now have your monthly net income