Business Tool
Freelance Rate Calculator
Find the hourly and day rates you need to charge to reach your target income as a freelancer.
Freelance Rate Calculator
Find the hourly and day rates you need to charge to hit your income goals.
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Suggested Rates
- Hourly Rate
- $140.06
- Day Rate (8h)
- $1,120.45
- Monthly revenue target
- $14,005.60
- Annual gross revenue target
- $168,067.23
- Working weeks
- 48
- Total billable hours/year
- 1,200
Disclaimer: This calculator provides informational estimates only and is not tax or financial advice. Actual rates depend on your market, expenses, tax bracket, and business structure. Consult a tax professional for personalized guidance.
Frequently asked questions
- How do I calculate my freelance hourly rate?
- Start with your target take-home income, add your tax reserve percentage and business expense percentage, then divide by your total billable hours per year (working weeks × billable hours per week). This gives you the rate you need to charge to meet your goal.
- What percentage should I set aside for taxes?
- In the US, self-employment tax is 15.3% on top of income tax. A common rule of thumb is to reserve 25-35% of gross income for federal and state taxes. This calculator lets you adjust the percentage to match your situation.
- What are typical business expenses for freelancers?
- Common expenses include software subscriptions, equipment, office space, professional insurance, marketing, and accounting. Many freelancers allocate 10-20% of revenue for business expenses.