According to the most recent data from the Small Business Administration (SBA), small businesses make up an impressive 99.5% of all businesses in Virginia and employ over 1.6 million people. Nearly half of the state’s workforce relies on small business owners like you.
With so much responsibility on your shoulders, getting payroll right becomes even more important. If you fail to pay employees fairly under federal, state, or local laws, you can face thousands of dollars in fines. Additionally, underpaying employees for overtime is one of the most common labor law violations businesses commit.
This free take-home pay calculator makes it easy to calculate small business payroll for all your employees. You’ll get a clear view of the employee’s gross pay, including overtime, commissions, bonuses, and more. Also, you can deduct state and federal taxes — factoring in employee-requested allowances — to get a more accurate picture of each employee’s earnings.