The rate you charge isn't the rate you take home. This works backwards from what you want to earn — after federal and state tax, health insurance, and all the unbilled hours — to the rate you actually need to quote.
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Real billable hours, not wishful ones
Most US freelancers bill 60–70% of their working week once you subtract business development, admin, and deep-work planning. The tool starts from that realistic number.
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Self-employment tax and benefits
Accounts for the 15.3% SE tax, federal + state income tax, and the health-insurance premium you're paying out of pocket — all the things a regular employee doesn't see on their paycheck.
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Floor rate and target rate
Know the minimum rate that keeps you above water, and the target rate you should be pitching to build a buffer for slow months and retirement contributions.