Stop guessing what to charge. Enter your salary goals, expenses, and billable hours to find your ideal hourly rate. Works for painters, fencers, and all trades.
What you want to take home each year
Insurance, tools, vehicle, marketing, etc.
Hours you can actually bill clients (not admin/travel)
Account for vacation, sick days, holidays
Your Recommended Hourly Rate
$74/hr
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Master these concepts to price your time confidently and profitably.
As an employee, your employer pays half your Social Security/Medicare taxes, provides insurance, and covers many expenses. As a contractor, you pay everything.
Self-employment tax alone is 15.3% of your income. Add insurance, tools, vehicle, and marketing — and you need to charge 30-50% more than an employee salary to net the same.
Only charge for billable hours — the rest is overhead.
Start with what you want to earn annually (your salary), add all business expenses (insurance, tools, vehicle, marketing, etc.), then divide by your actual billable hours. Don't forget to add a profit margin on top — this covers unexpected costs and helps grow your business.
Not all hours you work are billable. You spend time on quotes, admin, travel, marketing, and unbilled client meetings. Most contractors can only bill 60-75% of their working hours. If you work 40 hours, you might only bill 25-30 of them.
Include everything it costs to run your business: vehicle expenses (gas, maintenance, insurance), tools and equipment, business insurance and licenses, marketing and advertising, phone and software subscriptions, office supplies, continuing education, and a portion of home office if applicable.
10-20% profit margin is typical for contractors. This covers unexpected costs, slow periods, equipment replacement, and business growth. Premium services or specialized trades can command higher margins. If you're not making at least 10% profit, you're essentially working for free when things go wrong.
Most self-employed contractors work 48-50 weeks per year, accounting for vacation, sick days, and holidays. Be realistic — if you take two weeks off for vacation, account for that. Some trades are seasonal and may only work 40-44 weeks.
Research rates in your area for similar trades. Skilled contractors typically charge $50-150/hour depending on the trade, location, and experience level. If you're significantly below market rate, you're leaving money on the table. If you're above, make sure you can justify the premium with quality or specialization.