Re: Calculating your daily/hourly rate
I would tend to disagree. Form an S-Corp or an LLC and pay yourself a low but defensible salary. Profits are taxed at the more favorable capital gains rate, and are not subject to social security/medicare tax.
On 9/4/19 2:47 PM, Robert Lauriston wrote:
Market. Ask freelancers who are doing similar work what they bill. Ask
managers you know what they pay contractors.
The "rule of thirds" makes no sense to me. If you're a self-employed
freelancer, there's no difference between "salary" and "profit." You
keep what you don't have to spend on expenses or taxes.
There are some tax breaks that can boost your net, such as the IRS
counting 58 cents a mile for work-related car travel expenses when you
might actually spend less than that if you have a reliable old car.
On Wed, Sep 4, 2019 at 5:08 AM Sion Lane <sion -dot- lane -at- unit4 -dot- com> wrote:
How does one go about figuring out your hourly or daily rate? Obviously one can be derived from the other, but how do you come up with a figure to start from?
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- Re: Calculating your daily/hourly rate, Chris Morton
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