โ ๏ธ Health insurance uses a simplified 7.09% income-based rate. Real burden is higher if you own real estate or a car (property scores apply). Industrial accident & employment insurance are optional and excluded.
โก theutilhub
Official Rate Certificate
Country๐ฐ๐ท ๋ํ๋ฏผ๊ตญ
Net Incomeโฉ3,000,000
Fixed Costsโฉ0
Est. Taxesโฉ592,200
Buffer 10%โฉ359,220
Billable Hours128h / mo
โฉ30,870 / hr
July 11, 2026 ยท theutilhub.com This certificate is for reference only. Actual taxes may vary.
๐ How to Set Your Freelance Rate
Many freelancers price themselves by market rates, ignoring their actual living costs, taxes, and overhead. The right approach is reverse-engineering: start from your desired take-home, then add taxes, fixed costs, and an efficiency buffer. This gives your true minimum viable rate โ below which you are effectively losing money.
๐ Tax Structures: KR vs US
Korea: 6โ45% progressive income tax + 10% local income tax + regional health insurance (~7.09% as a simplified income-based rate). โ ๏ธ Actual regional health insurance is computed from income, property, and vehicle scores combined โ real burden is typically higher if you own real estate or a car.
United States: SE Tax 15.3% (on 92.35% of net SE income) + Federal income tax 10โ37% progressive. 2024 Single filer standard deduction $14,600 applied automatically. 50% of SE Tax is deductible. โ ๏ธ Married-filing-jointly ($29,200) and head-of-household ($21,900) deductions are separate; State income tax (0โ13% depending on state) is NOT included โ add it manually.
๐ฆ Why Fixed Costs Matter
Rent, software subscriptions, phone bills, food, and insurance are unavoidable monthly expenses โ even in months with no income. For freelancers, these are business operating costs that must be factored into your rates. Ignoring fixed costs means your rate effectively forces you to subsidize your clients.
โ Frequently Asked Questions
Q. Why isn't efficiency 100%?
A. Out of an 8-hour workday, actual billable hours are typically 60โ80% after accounting for meetings, emails, admin, and business development. Setting efficiency to 100% underprices your work.
Q. Why a 10% buffer?
A. It covers tax estimate variances, late-paying clients, unexpected expenses, and slow months. It's the key to maintaining a stable freelance income long-term.
Q. How accurate is the tax estimate?
A. Based on published 2024 tax brackets as an estimate. Your actual taxes depend on deductions, filing status, and state taxes. Consult a CPA for precise figures.
Q. Where is my data stored?
A. All data is stored only in your browser's localStorage. Nothing is sent to any server or shared with third parties.
Q. Can platform freelancers (Upwork, Fiverr) use this?
A. Yes. Add platform fees (typically 20%) as a fixed monthly cost, or factor them into your efficiency percentage.
โ ๏ธ Disclaimer
This calculator is for informational purposes only and does not constitute tax or legal advice. Actual tax obligations vary significantly based on individual circumstances. Always consult a qualified CPA or tax professional for accurate tax calculations.