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October 24, 2014
 

Freelance Calculator

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Calculate your hourly freelance rate using this freelance rate calculator. Simply enter your business and personal expenses, the average days and hours you work, any additional income you would like figured into the rate, plus any savings you would like left over at the end of the year, and the tool will automatically calculate the hourly rate you need to charge.

Freelance Business Expenses

Calculate your freelance business expenses. Expenses can be entered in amounts per month, year or even day. If you're not exactly sure of an expense, go ahead and guess.

Office Rent
$

Equipment (computers, furniture, tools, etc.)
$

Software
$

Telecommunications (phone,fax, cell, etc.)
$

Marketing & Advertising
$

 

Legal (lawyers, contracts, etc.)
$

Accounting (accountant, bookkeeping, etc.)
$

Business Insurance
$

Travel (client meetings, conferences, etc.)
$

Other (entertainment, etc.)
$

TOTAL FREELANCE BUSINESS EXPENSES: $0.00 / month — $0.00 / year

Personal Expenses

Calculate your personal expenses. Expenses can be entered in amounts per month, year or even day. If you're not exactly sure of an expense, go ahead and guess.

Mortgage/Rent
$

Utilities (gas, electric, phone, etc.)
$

Auto Loans (car, motorcycle, RV, etc.)
$

Gas/Auto Maintenance
$

Credit Cards (VISA, Master Card, AMEX, etc.)
$

Food
$

Loans (student, equity, etc.)
$

 

Clothing
$

Cable & Internet (not included in business)
$

Auto Insurance (including motorcycle, etc.)
$

Health Insurance (medical, dental, etc.)
$

Homeowner/Rental Insurance
$

Child Support/Alimony
$

Other Expenses (travel, entertainment, etc.)
$

TOTAL PERSONAL EXPENSES: $0.00 / month — $0.00 / year

Billable Hours

Calculate your billable hours. You will likely not bill clients for all the hours you work including time you spend doing administrative tasks, marketing and advertising your services, accounting and bookkeeping, etc.

How many days per WEEK do you work on average?
days/week

How many billable hours per DAY do you work on average?
hours/day

How many vacation and sick days per YEAR to you want? (not including weekends)
days/year

How many holidays per YEAR to you want? (average 6 - 10 days)
days/year

TOTAL BILLABLE HOURS: 0 hours / month — 0 hours / year

Other Income

You may work another job or have other streams of income. If you would not like these other income streams to be calculated into your hourly rate, then leave this section blank.

Salary/Earned Income (NOT from freelanceing)
$

Child Support/Alimony Income
$

 

Dividends, Interest & Capital Gains
$

Other Income (rent, gifts, etc.)
$

TOTAL OTHER INCOME: $0.00 / month — $0.00 / year

Savings / Net Profit

If you would like some money left over at the end of the year after business and living expenses, then enter that figure here.

How much profit/savings per YEAR would like to have left over?
$ /year

Taxes

Tax rates vary state to state and country to country. Entering your tax rates will ensure you make enough to cover your expenses plus pay your annual taxes.

Federal Income Tax Rate
%

Self Employment Tax Rate
(approximately 15.3% in 2012 and covers social security, medicare, etc.)
%

 

State Income Tax Rate
%

Other Taxes (anything else not covered)
%

TOTAL TAXES: $0.00 / year

Hourly Rate: $0.00
(Annual Income: $0)

This is the minimum hourly rate you should be charging your clients.

If your savings / net profit is eliminated, the amount you need to charge to just break even is $0.00. This would result in an annual income of $0, which includes reduced taxes.

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