Free tool
Freelance hourly rate calculator
Overview
Enter the income you want to keep, your business costs and the hours you can really bill. See the hourly and day rate that gets you there.
Keeping your own books? Tallyfinch does invoices, bank import and reports on your computer. See Tallyfinch
What you want
Your time
Excel workbook · $19
Freelancer Income Tracker
Record each payment and expense and see monthly net, a tax set-aside at the percentage you choose, and how much of your income comes from each client.
See what is inside ($19)Share
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How it works
How it works
The calculator adds your target take-home income to your business expenses, then grosses it up for taxes, benefits and savings using the set-aside percent you choose. It divides that by the hours you can bill in a year, which is your billable hours a week times the weeks you work.
FAQ
About this calculator
How do I figure out my freelance hourly rate?
Add the income you want to take home to your business expenses, then add a set-aside for taxes, benefits and retirement. Divide by the hours you can actually bill in a year.
Why not just divide my salary goal by 2,080 hours?
Freelancers cannot bill every hour they work. Finding clients, invoicing, email and time off are unpaid. Only the hours you can bill count.
What should I put for the tax and benefits set-aside?
It is your own estimate. Freelancers pay their own self-employment tax, health insurance and retirement savings, so many set aside 25% to 35%. A tax preparer can tell you what fits your situation.
Should I charge more than the number I get?
Often yes. Slow months, late payments and unpaid projects are normal, so a cushion helps. Check the number against what clients in your field actually pay.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Comparing freelance to a job? Use the self-employed tax calculator. Guide: how to set a freelance hourly rate. More free tools: Loan-to-value ratio calculator, Auto loan calculator, Loan comparison calculator, or see all free tools.
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General information, not tax or legal advice. How we write and check our tools.
Excel workbook
Freelancer Income Tracker
Record each payment and expense and see monthly net, a tax set-aside at the percentage you choose, and how much of your income comes from each client.
See what is inside ($19) Try the free starter
Also in the Freelancer Launch Bundle: 4 products for $89 instead of $126 separately.
Tallyfinch
Books you keep on your own computer
Tallyfinch does invoices, bills, bank import, reconciliation and the main reports, in a file you own. $99 once, then $5 a month for updates; the app keeps working if you stop the plan. It does not do payroll or sales tax filing. The free download records up to 60 entries.
See Tallyfinch Download it free Compare the three apps