Death Tax Rate Calculator

body {
font-family: -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto, Helvetica, Arial, sans-serif;
line-height: 1.6;
color: #333;
max-width: 800px;
margin: 0 auto;
padding: 20px;
background-color: #f9f9f9;
}
.calculator-container {
background: #ffffff;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0,0,0,0.1);
padding: 30px;
margin-bottom: 40px;
border: 1px solid #e1e1e1;
}
.calc-header {
text-align: center;
margin-bottom: 25px;
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margin-bottom: 20px;
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display: block;
margin-bottom: 8px;
font-weight: 600;
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How to Price Your Freelance Services Correctly

Calculating a freelance hourly rate is often the first stumbling block for new independent contractors and consultants. Unlike a salaried employee, your hourly rate must cover not just your salary, but also your taxes, overhead costs, and non-billable time. Using a generic calculator often leads to underpricing.

1. The Difference Between Net Income and Gross Revenue

Many freelancers make the mistake of dividing their desired salary directly by the number of working hours in a year (typically 2,080). This formula fails because it ignores two critical factors:

• Taxes: As a freelancer, you are responsible for the employer and employee portion of taxes (often called self-employment tax), plus income tax.
• Overhead: You must pay for your own health insurance, software subscriptions, office supplies, and internet.

Our calculator determines your Gross Revenue Needed by adding your annual overhead to your desired net income and adjusting for your specific tax bracket.

2. Accounting for Billable vs. Non-Billable Hours

You cannot bill for every hour you sit at your desk. In a 40-hour work week, you might spend 10 hours on marketing, invoicing, answering emails, or skill development. These are non-billable hours.

If you base your rate on a 40-hour billable week but only bill 30 hours, you will fall short of your income goal by 25%. This tool asks specifically for “Billable Hours” to ensure your rate covers your administrative time.

3. Why Time Off Matters

Freelancers do not get paid vacation or sick leave. If you plan to take 2 weeks of vacation and anticipate 1 week of sick time, you are only earning revenue for 49 weeks of the year. Your hourly rate must be high enough during those 49 weeks to cover the 3 weeks you aren’t working. Inputting your “Weeks Off” ensures your annualized income remains stable regardless of downtime.

When to Raise Your Rate

Once you calculate your minimum hourly rate using the tool above, consider this your “floor.” You should consider raising your rate if:

• You have specialized niche expertise that is in high demand.
• Your schedule is consistently fully booked for 3+ months in advance.
• You are delivering measurable ROI (Return on Investment) to clients that far exceeds your fee.

function calculateRate() {
// Get input values
var annualGoal = parseFloat(document.getElementById(“annualGoal”).value);
var monthlyExpenses = parseFloat(document.getElementById(“monthlyExpenses”).value);
var taxRate = parseFloat(document.getElementById(“taxRate”).value);
var billableHours = parseFloat(document.getElementById(“billableHours”).value);
var weeksOff = parseFloat(document.getElementById(“weeksOff”).value);
// Validation
if (isNaN(annualGoal) || isNaN(monthlyExpenses) || isNaN(taxRate) || isNaN(billableHours) || isNaN(weeksOff)) {
alert(“Please fill in all fields with valid numbers.”);
return;
}
if (weeksOff >= 52) {
alert(“Weeks off cannot equal or exceed 52 weeks.”);
return;
}
if (taxRate >= 100) {
alert(“Tax rate must be less than 100%.”);
return;
}
// 1. Calculate Annual Expenses
var annualExpenses = monthlyExpenses * 12;
// 2. Calculate Gross Revenue Needed
// Formula: (Goal + Expenses) / (1 – TaxRateDecimal)
// Example: Need 75k net, 6k exp, 25% tax.
// Gross needs to be X where X – 0.25X – 6k = 75k
// 0.75X = 81k -> X = 108k
var taxDecimal = taxRate / 100;
var grossRevenueNeeded = (annualGoal + annualExpenses) / (1 – taxDecimal);
// 3. Calculate Total Working Weeks
var workingWeeks = 52 – weeksOff;
// 4. Calculate Total Billable Hours per Year
var totalBillableHours = billableHours * workingWeeks;
// 5. Calculate Hourly Rate
var hourlyRate = 0;
if (totalBillableHours > 0) {
hourlyRate = grossRevenueNeeded / totalBillableHours;
} else {
alert(“Billable hours cannot be zero.”);
return;
}
// Formatting currency
var formatter = new Intl.NumberFormat(‘en-US’, {
style: ‘currency’,
currency: ‘USD’,
minimumFractionDigits: 0,
maximumFractionDigits: 0,
});
var rateFormatter = new Intl.NumberFormat(‘en-US’, {
style: ‘currency’,
currency: ‘USD’,
minimumFractionDigits: 2,
maximumFractionDigits: 2,
});
// Update DOM
document.getElementById(“grossRevenueDisplay”).innerText = formatter.format(grossRevenueNeeded);
document.getElementById(“totalHoursDisplay”).innerText = Math.round(totalBillableHours);
document.getElementById(“hourlyRateDisplay”).innerText = rateFormatter.format(hourlyRate);
// Show result area
document.getElementById(“result-area”).style.display = “block”;
}