Freelancer Finances
5 calculators in this journey
Set your rate, handle taxes, and build the financial foundation that makes freelancing sustainable.
Step-by-Step Guide
Set your hourly rate
Calculate your hourly rate by factoring in desired income, business expenses, and time off.
Open CalculatorEstimate self-employment tax
Estimate your self-employment tax liability and quarterly payment requirements.
Open CalculatorClaim home office deduction
Calculate the home office deduction using simplified or actual expense methods.
Open CalculatorEmployee vs. contractor
Understand the key differences and tax implications between being a contractor vs. employee.
Open CalculatorPlan retirement as freelancer
Explore retirement savings options available to freelancers like Solo 401k and SEP-IRA.
Open CalculatorReady to Start?
Complete all 5 steps of this journey and we'll track your progress. Start with the first calculator and we'll guide you through the rest.
Begin Freelancer FinancesFrequently Asked Questions
How do I calculate my hourly rate?
Consider your desired income, business expenses, and vacation time. Our calculator factors in all these costs to determine a competitive hourly rate.
How much self-employment tax will I owe?
Self-employment tax is about 15.3% of net income. Our calculator estimates your quarterly tax liability so you can set aside the right amount.
What home office deduction can I take?
You can deduct a portion of rent, utilities, and maintenance based on your office square footage. Our calculator shows the simplified and actual methods.
Am I a contractor or employee?
The IRS uses specific criteria to classify workers. Understanding the differences affects taxes, benefits, and rights. Our guide explains the distinctions.
How should I save for retirement as a freelancer?
Solo 401k and SEP-IRA are popular options for freelancers. Our calculator shows contribution limits and helps you choose the best vehicle.
Related Journeys
When Can I Retire?
4 steps
Five checks. One Reality Score. See if your savings rate, target age, and lifestyle expectations actually line up.
FIRE Roadmap
5 steps
Map your path to Financial Independence / Retire Early — from your current net worth to your freedom number.
Retirement Planning
5 steps
Map your retirement income, optimize your accounts, and make sure your money lasts as long as you do.
Need a Different Calculator?
Browse all 100+ calculators or explore other guided journeys.