Let's compare Employee vs Contractor
If you hire an employee you will be paying an average salary of $18 per hour (2080 hrs per year x $18 = $38,000).
Keep in mind that an $18/hr employee will usually require guidance and additional accounting support.
Let's compare annual costs:
Employee
Base Salary: $ 38,000
Employer Paid Payroll Tax 3,800
Employer Paid Insurance 3,000
Benefits, 4% 1,520
Equipment & Software License 300
Real Estate (space) 1,200
MINIMUM, 1 FULL-TIME EMPLOYEE $57,720 / yr
Contractor / Bottom-Line Bookkeeping
Pre-Determined Monthly Fee: $250 - $500/mth
CONTRACTED BOOKKEEPER: $3,000 - $6,000 / yr
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