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Calculate wage for self-employed | Free template

Calculate wage for self-employed is a free template to calculate the gross pay and the net pay for a self-employed depending on company profit. As a self-employed you need to calculate the wage to pay to yourself depending on the profit in the business and the taxes.

The total cost of staff in a business includes gross salary plus payroll tax and the profit in the business must be high enough to cover both the gross salary and the payroll tax. In this template is the gross pay calculated from the profit generated per month, and the template also calculates the net pay received after the preliminary tax has been deducted.

Input into this template is the payroll tax in percent, profit per month tax in percent on the gross wage. Current tax rates can be found on IRS website.

You can use this template to calculate your gross pay and net pay in order to assess how much you can pick out from the profit generated in the company per month. This kind of calculation can also be useful when applying for a loan when you are self-employed and must provide your gross pay and net pay.
Updated: 01-01-2015 | Created by

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