Freelance Rates Calculator
How to Use the Freelance Rates Calculator
1. Enter Your Desired Monthly Income
Type in your target monthly revenue—what you’d like to earn net, before taxes and expenses.
2. Enter Your Billable Hours per Month
How many hours can you realistically bill clients each month? Be conservative—include only hours spent working, not on marketing, admin, or breaks.
3. Enter Your Monthly Expenses
Include all recurring costs associated with your freelance business (e.g., software subscriptions, internet, office supplies, licenses, tools).
4. Enter Your Estimated Tax Percentage
Input the combined percentage of taxes you expect to pay—national, state, local—plus any self-employment charges.
5. Click on Calculate
Once you’ve filled in all fields, click the Calculate button. The calculator will provide:
- Hourly Rate – What you should charge per billable hour.
- Daily Rate (assuming an 8-hour day) – Useful for full-day projects.
- Total Monthly Project Rate – The full amount needed to meet your income goal considering taxes and expenses.
Why It’s So Effective
This calculator ensures you’re covering all costs and still hitting your income targets—no guesswork, only smart pricing.
Example in Action
- Desired Monthly Income: $3,000
- Billable Hours per Month: 120
- Monthly Expenses: $500
- Tax Rate: 15%
Results you’ll see:
- Hourly Rate: ~$33.77
- Daily Rate: ~$270.16
- Monthly Project Total: ~$3,525 (income + expenses + tax)
Freelance Rates Calculator
Tips for Best Results
- Accurately estimate billable hours (deduct non-billable time for marketing, client calls, invoicing).
- Update expenses regularly—software subscriptions or co-working fees may change.
- Revisit tax rates annually—your obligations may vary with local laws or business structure.
- Use the results as a baseline—adjust rates upward for rush jobs or high-value projects.
What You Can Do Next
- Bookmark or link to this tool for quick reference.
- Combine your calculated rate with competitor research to stay competitive.
- Review monthly to adjust for changing expenses, workload, or tax rates.
Let me know if you’d like to also add visuals or step-by-step screenshots to the guide—or maybe embed this explanation right beneath the calculator!