logo
 

Employer Tax Savings Calculation

Employer Tax Savings Calculation

 

The employer savings calculator is a form that provides employers with tax savings if employees participate in a Flexible Giving Account (FGA).

To calculate your payroll tax savings enter the following:

  1. Estimated Average FGA Contribution per Employee* ($1 to $2,700)
  2. Average Annual Employee Income
  3. Number of employees

 

* For reference, the average 2016 Combined Federal Campaign Contribution was $340.

 

Tax Savings Calculation = Average FGA Contribution * rate below (e.g. 0.0765 or 0.0145 depending on income) * Number of Participating Employees.

 

If wage is ≤  $128,400, to calculate the employer’s savings on this specific employee, multiply the average FGA average contribution by 7.65%

If wage is ≥128,400, to calculate the employer’s savings on this specific employee, multiply the average FGA average contribution by 1.45%.