Calculate exactly what hourly rate you need to charge as a freelancer
Self-employment tax (15.3%) and federal income tax are calculated automatically.
You need to charge at least:
1440 billable hours/year × $78.90/hr
| Rate | Annual Revenue | After-Tax Income | Status |
|---|---|---|---|
| $58.90/hr | $84,809 | $47,372 | ⚠️ Too low |
| $78.90/hr | $113,609 | $66,170 | ✅ Target |
| $98.90/hr | $142,409 | $84,477 | 🚀 Comfortable |
| $118.90/hr | $171,209 | $102,784 | 💰 Great |
At 30 billable hours/week you work ~40+ hours total but only bill 30. The rest goes to admin, marketing, networking, and business development. That is why freelancers must charge more than employees earning the same take-home.
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Educational estimate only. Tax calculations are approximate and do not account for all deductions. Consult a CPA for accurate figures.