ChargeWhat

ChargeWhat is a free rate calculator designed for US and UK freelancers, helping them determine the minimum hourly rate needed to cover expenses and taxes. Unlike traditional calculators that estimate earnings based on a given rate, ChargeWhat calculates the minimum rate required after accounting for self-employment tax, state income tax, health insurance, and other expenses. It automatically uses your provided hourly rate and factors in the self-employment tax of 15.3% on 92.35% of your net profit, which includes both employer and employee contributions to Social Security and Medicare. The calculator distinguishes between the minimum rate, which is the bare minimum to meet your take-home target, and the recommended rate, which includes a profit buffer for slow months and unexpected expenses. Additionally, it provides insights into quarterly estimated tax payments, helping freelancers understand their annual tax liabilities. ChargeWhat is a valuable tool for freelancers looking to ensure they are charging appropriately for their services.