Employee Tax Savings Calculator:

Welcome to the H&G Benefits calculator. To use this effectively follow these steps:

Step 1	Review your paycheck
Step 2	Notice the difference between your gross pay (what you are paid) and the net pay (the amount you take home). Take care to notice other deduction amounts that should not be in the mix such as 401k.
Step 3	Use the default formula rate of 28% as the amount that is taken generally from your gross pay, or calculate your actual amount by using this simple formula to figure the % of funds that usually gets reduced from your gross pay: Net pay Amount / Gross Pay Amount = ________ %, This is the percent that you put on Line #2. This is your marginal tax bracket. Insert this % into the box that says Marginal Tax Bracket.
Step 4	Plug the % into the box under 2 on the calculator that says "Marginal Tax Bracket".
Step 5	Populate out the calculator with your expenses and % you will arrive at an accurate scenario.

Thank you for using H&G Benefits calculator. Don't forget to sign / register in our guest book and give us any comments. Comments and suggestions are always welcome!

Plan Year Expenses:

Group Insurance Premiums
Health Care FSA
Dependent Care FSA
Ind Prem Account
Total: (A)

Marginal Tax Bracket (% pay in taxes for Federal, FICA, State, if applicable):

(Consult your tax advisor if unsure of correct %)

(B)

*Plan Year Tax Savings using H&G Benefits:

AxB =(C)

$ (A) of expenses would cost you $ (A-C) due to the *$ (C) in tax saving received by participating in the H&G Benefits Plan.

Per Paycheck Tax Savings Using H&G Benefits:

Number of Pay Periods in Plan Year

(D)

(C) /(D) = Dollars Saved