Self-employment is just as much about the work for your clients as it is the work to stay afloat at home. Unlike our 9 to 5 friends out there, we have to find our own health insurance and furthermore, we need to pay our own taxes.
Beyond the typical federal, state, and local, we also have self-employment taxes and other little nuances depending on where you live. With that being said, taxes can feel like a guessing game and beyond just paying them, you also want to price your projects out so that you are taking into account the amount that will be taken out for taxes--and not low-balling yourself.
That is where the Freelance Project Tax Calculator comes in. Created by Philadelphia local, Mike Wilner, and his startup company, Sail, the tax calculator comes in a spreadsheet form that allows people to calculate their tax withholding on freelancing projects and allowing the freelancer to see what they would need to price their projects at to be able to pay taxes and also make a profit for themselves. The best part is that you can continuously use the platform on a per project basis, always ensuring you are tax-compliant and making some financial gains.
Pricing and taxes can be one of the hardest parts of being self-employed, but they no longer need to be. The platform is user-friendly, sleek, and really can give you the answers you need when it comes to both your taxes (don't forget, we make them quarterly) as well as your price points you want to hit depending on the project.
Not convinced yet? Read some of the product reviews on Product Hunt.
Socially Dedicated's team regularly contributes to our company blog. Check us out!
Socially Dedicated, a Philadelphia-based firm, provides marketing, content creation, public relations, business management consulting and social media management to small businesses. Check out our website or locate us on social media using the icons below.