Was recently laid off and going to try freelancing until I find something full-time. I've never done this before.

How do you guys come up with your rates? What do I need to know from a tax standpoint?

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Posting as :
works at
You are currently posting as works at

There are market ranges, though it has been a bit of a slower market lately so you may have to go down a bit on rate. As a rough starting point, as a mid level CW I’d aim for around $800-1000/day. If you’re Sr, try 1200, ACD 1400, CD 1500+ depending on how awarded you are. You can check out mtfreelance.com for lots of good tips. Tax standpoint: set aside at least 30%, get a good CPA if you’re serious about freelancing and ask if an S-Corp makes sense for you (usually does if you earn 80k+).

likehelpful

For hourly rate, I always make sure I know how much other freelancers with my experience, living in the same city, get. I was once told that I would be shocked to learn about some who get well above the posted ranges.

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does “day rate” equal 8 continuous hours, or whatever gets done in one day, or 8 hours split up whichever way so long as deadline is met, or in another way? what is a day?

I guess if I’m charging a day rate and it takes/I say it takes a couple of days to finish, then it’s really just a project rate.

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