Should I become a contractor for a pay increase?

Portland, OR

I am currently cleaning AirBnBs for a small, family-owned property management company. I am a direct employee, paid $20/hr.

I recently told them I need to focus on side gigs because they pay more, but this company is desperate to keep me because I am good at my job. They said they can bump my pay for $27/hr if I become a contractor because they wont be paying payroll tax and such. However, I am not sure if it is worth it based on how much I will pay at tax time.

Is there a formula or a way for me to figure out my take-home as a contractor?

Thank you!!