Know your worth
See exactly what you need to charge to meet your income goals.
Freelance Rate Calculator
All costs included
Taxes, health insurance, retirement, and unbillable hours.
Built-in buffer
Suggested rates include a 20% negotiation cushion.
Most freelancers underprice their services because they only think about income — not the full cost of self-employment. This calculator shows your true minimum rate based on what you actually need to earn.
Your Minimum Rates
$0/hr
Suggested rate: $0/hr (includes 20% negotiation buffer)
Per hour
$0suggested $0
Per day
$08 hours
Per week
$0billable hours only
Per month
$0suggested $0
To match this freelance income, an employer would need to pay you $0/year in salary (before their payroll taxes and benefits costs).
Where Your Money Goes
Your take-home income$0 (0.0%)
Taxes$0 (0.0%)
Health insurance$0 (0.0%)
Business expenses$0 (0.0%)
Retirement$0 (0.0%)
Now calculate your quarterly tax payments →
Use your required freelance revenue as the gross income input in the quarterly tax calculator.
Calculate your quarterly taxesFreelance rate FAQ
How do I calculate my freelance hourly rate?
Start with the take-home income you want, then add taxes, health insurance, retirement savings, software, equipment, professional fees, and other business costs. Next, divide the total revenue needed by billable hours, not total working hours. A freelancer working 40 hours per week may only bill 25 to 30 of those hours after sales, admin, invoicing, and client communication. MyTaxQuarter does that math for you and adds a suggested buffer for negotiation room.
What percentage should I set aside for taxes as a freelancer?
Many freelancers start by setting aside 25% to 35% of profit, but the right number depends on filing status, state, deductions, credits, and income level. Self-employment tax, federal income tax, and state income tax can stack quickly. If you have W-2 withholding or large deductions, you may need less. If you live in a high-tax state or earn more, you may need more. Use the rate calculator for pricing, then use the quarterly calculator for payment planning.
What is a billable hour and what percentage is realistic?
A billable hour is an hour you can charge to a client. Non-billable hours include proposals, marketing, sales calls, email, bookkeeping, professional development, revisions you choose not to bill, and downtime between projects. Established freelancers often target around 70% to 80% billable time. New freelancers may be closer to 50% to 60% while building a pipeline. Pricing every hour as if it were billable is one of the fastest ways to undercharge.
Should I charge hourly or per project?
Hourly pricing is simple and useful when scope is uncertain. Project pricing can be better when you understand the work well and can deliver efficiently. The risk with project pricing is underestimating revisions, meetings, and project management. The risk with hourly pricing is capping your upside when you are fast and experienced. A good approach is to calculate your minimum hourly rate first, then use it internally to price fixed-fee projects with a scope buffer.
How do I raise my rates with existing clients?
Give advance notice, explain the business reason briefly, and anchor the increase to continued quality and availability. For example, say that your 2026 rate is changing on a specific date and existing clients can finish current scopes at the old rate. Avoid apologizing for a sustainable business decision. If a client cannot afford the new rate, offer a smaller scope, retainer, or referral rather than quietly absorbing the cost yourself.
What is the difference between minimum rate and suggested rate?
The minimum rate is the lowest rate that mathematically supports your stated income goal and costs. The suggested rate adds a buffer, usually for negotiation, unpaid scope creep, slow months, and unexpected costs. Charging the minimum leaves little room for discounts or mistakes. The suggested rate is healthier for proposals because it gives you space to negotiate while still protecting your annual income target.
How does health insurance affect my freelance rate?
Employees often receive employer-subsidized health insurance, but freelancers usually pay the full premium themselves. A $500 monthly premium is $6,000 per year before considering deductibles or out-of-pocket medical costs. That cost needs to be built into your rate, not treated as a personal afterthought. Self-employed health insurance may be deductible when requirements are met, but you still need enough cash flow to pay the premium every month.
How do I account for vacation time in my rate?
Freelancers do not get paid vacation unless they price it into their work. If you want three weeks off, use 49 working weeks. If you want five weeks off, use 47. Also account for holidays, sick days, conferences, family obligations, and slow periods. A sustainable freelance rate should support a human schedule, not assume 52 perfect working weeks with every hour sold to clients.