Free Financial Calculators — Varstan Bookkeeping Services

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Employee Payroll Cost

How much does an employee actually cost you as an employer?

Annual Salary

State

Gross Salary—

Social Security (6.2%)—

Medicare (1.45%)—

FUTA / SUTA (est.)—

Total Employer Cost—

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Employee Take-Home Pay

Estimate an employee's net annual and monthly take-home.

Annual Gross Salary

Filing Status

State Income Tax Rate (%)

Fed Income Tax (est.)—

FICA (7.65%)—

State Tax (est.)—

Annual Take-Home—

Monthly Take-Home—

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Self-Employment Tax

Freelancers & contractors: estimate your SE tax and what you owe.

Net Self-Employment Income

Business Expenses

Other Income (W-2, etc.)

Filing Status

Net Profit (after expenses)—

Self-Employment Tax (15.3%)—

SE Tax Deduction (½)—

Est. Federal Income Tax—

Total Tax Owed (est.)—

Effective Tax Rate—

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Home Office Deduction

Estimate your home office write-off using the simplified or regular method.

Method

Office Square Footage

Home Office Deduction—

Tax Savings (est. 25% rate)—

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LLC vs S-Corp Tax Savings

See how much you could save by electing S-Corp status for your LLC.

Annual Net Business Profit

Reasonable Salary (S-Corp)

Filing Status

LLC (Default)

SE Tax—

Income Tax—

Total Tax—

S-Corp Election

Payroll Taxes—

Income Tax—

Total Tax—

Annual Savings 🎉 —

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Quarterly Estimated Tax

Estimate each quarterly payment to avoid IRS underpayment penalties.

Expected Annual Net Income

Self-Employed?

Filing Status

Annual Tax Est.—

Per Quarter (÷4)—

Due dates: Apr 15 · Jun 16 · Sep 15 · Jan 15

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Underpayment Penalty Check

See if you might owe an IRS penalty for underpaying estimated taxes.

Prior Year Tax Liability

Estimated Tax Paid This Year

Expected This Year's Liability

Safe Harbor (110% of prior)—

Amount Paid—

Status—

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Mileage Deduction (2024)

IRS standard rate: 67¢/mile for business use in 2024.

Business Miles Driven

Year

Your Tax Bracket (est.)

Mileage Deduction—

Est. Tax Savings—

Per-Mile Tax Saving—

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Self-Employed Health Insurance

SE health insurance premiums are 100% deductible — estimate your savings.

Annual Health Insurance Premiums

Net SE Income (before this deduction)

Your Tax Bracket

Deduction Amount—

Federal Tax Savings—

NoteNot available if eligible for employer plan

Financial calculators for smart business owners.

Need help running payroll?

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Is an S-Corp election right for you?

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Tracking every deduction?