Calculate employee costs, payroll taxes, W-2 and 1099 summaries, pay stubs, bonuses, PTO, and more. Essential free tools for HR professionals and business owners.
People are typically a company's largest expense, yet many businesses don't fully understand their true labor costs. These calculators help you see beyond base salary to understand the full cost of employment, including taxes, benefits, and overhead.
Whether you're deciding between hiring employees or contractors, planning your benefits package, or projecting payroll costs for budgeting, these tools provide the clarity you need for informed HR and financial decisions.
From ensuring FLSA compliance with overtime calculations to projecting 401(k) growth for employees, these calculators cover the full spectrum of HR and payroll needs.
The true cost includes base salary plus: employer payroll taxes (7.65% FICA), benefits (health insurance typically $6,000-$15,000/year), 401(k) match (often 3-6% of salary), PTO value, equipment, workspace, and overhead. Total cost is typically 1.25-1.4x the base salary.
Under the Fair Labor Standards Act (FLSA), overtime is 1.5x the regular rate for hours worked over 40 in a workweek. Some states have additional rules - California requires daily overtime (1.5x after 8 hours, 2x after 12 hours). Our calculator handles both federal and state-specific overtime rules.
Most companies offer 10-15 days of PTO in the first year, increasing to 15-20 days after 5 years. This translates to about 0.83-1.25 days accrued per month, or 3.08-4.62 hours per pay period (bi-weekly). Some companies front-load PTO at the start of the year instead.
The most common employer 401(k) match is 50% of employee contributions up to 6% of salary (effectively 3% of salary). Some employers match 100% up to 3-4%. The 2024 IRS limit for employee contributions is $23,000 ($30,500 if over 50), with combined employee+employer limit of $69,000.
The cost of turnover typically ranges from 50-200% of the employee's annual salary depending on the role. Entry-level positions cost around 50%, while senior or specialized roles can cost 100-200%. Costs include recruitment, training, lost productivity, and the learning curve for new hires.
Cost per hire = (Internal Recruiting Costs + External Recruiting Costs) / Total Number of Hires. Internal costs include recruiter salaries, referral bonuses, and HR time. External costs include job boards, agencies, background checks, and travel. SHRM reports the average cost per hire is around $4,700.