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Re: Calculating your daily/hourly rate

Subject: Re: Calculating your daily/hourly rate
From: Mark Giffin <mgiffin -at- earthlink -dot- net>
To: techwr-l -at- lists -dot- techwr-l -dot- com
Date: Wed, 4 Sep 2019 12:41:32 -0700

What Alan says is good advice, in my experience. But check with your tax people also!

Mark


On 9/4/2019 12:08 PM, Alan Houser wrote:

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.

-Alan

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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References:
Calculating your daily/hourly rate: From: Sion Lane
Re: Calculating your daily/hourly rate: From: Alan Houser

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