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Payroll Tax Savings Calculator
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IMPORTANT READ FIRST:
This spreadsheet is view only. To edit the spreadsheet go to File >> Make a Copy.
This will add an editable copy to your own Google Drive.

INSTRUCTIONS:
Light purple cells: You fill in the information.
White cells: These cells have formulas that will auto-calculate for you. Do not type into these cells or you will lose the formulas.

This spreadsheet only calculates payroll tax and does not include income tax calculations, which may also be affected by how you organize your business. For a sole prop or single-member LLC, you should expect to pay income tax on the combination of the business's net income and your salary (if any), minus taxes.

This spreadsheet provides general information and shouldn’t be construed as tax advice. Since tax rules may change over time and can vary by location and industry, it’s always best to consult a CPA or tax advisor for advice specific to your business.
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Sole Prop / LLCS Corp
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Total Annual Revenue$200,000.00$200,000.00
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Annual Business Expenses$45,000.00$45,000.00
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Annual Business Salary$40,000.00
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Payroll Taxes (FICA)$3,060.00
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Payroll Taxes (FUTA)$434.00
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Net Income$155,000.00$111,506.00
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Your Portion of Payroll Taxes$21,900.80$3,060.00
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Total Payroll Taxes Paid$21,900.80$6,554.00
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Payroll Tax Savings$15,346.80