Home Business - Pricing Your Freelance Projects - Continued

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Home Business Basics Categories:

Setting Your Hourly Rates | Pricing Your Projects
How to Quote a Freelance Project | Should You Take the Job | Naming Your Home Business
Legal Considerations for Your Home Business

Start by figuring out what you want your annual salary to be. To determine your salary, you might want to pay yourself what you earned as an employee or take a look at salary.com to find out what an average salary for your profession is.

For this formula, you will need to figure out what your overhead is. Overhead is an expense that cannot be found billable to a client, it is just a cost incurred by running your business. Please fill out the following form. If you aren't sure what your overhead is, then look back on last year's credit card bills and checking account statements.

MONTHLY OVERHEAD:

Rent
Income Taxes (Use 45% of your annual salary)
Utilities
Insurance
Office Supplies
Marketing
Postage and Shipping
Telephone
Accounting / Legal
Travel
Office Furniture
Dues & Memberships
Licenses
Health Plan / Medical Insurance
Disability Insurance
Retirement Savings
Multiply by 12 to get yearly Overhead

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