A depth gauge for use with a drill bit includes a body configured to receive a drill bit, a retention mechanism coupled to the body and configured to removably couple the body to the drill bit, and a cap configured to be removably coupled to the body. The cap can be coupled to the body in one of a first position relative to the body where the cap contacts a workpiece surface to prevent the drill bit from entering the workpiece more than a first depth, and a second position relative to the body where the cap contacts the workpiece surface to prevent the drill bit from entering the workpiece more than a second depth that is different from the first depth.