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2020 Income Calculator – Know Your Numbers!

Income Calculator Make Money Know

Free Income Calculator! Stop giving away your time – learn how much to charge to be profitable.


This
free income calculator will help you decide if the time you work matches your hourly rate to meet your annual income goal. You get to choose how you invoice your client. It can be at an hourly rate, sessions, packages – whatever you want. Watch the demo below.

Your #1 goal is to make sure your passion does not get in the way of your profitability!

Ask yourself these questions…

  • Do you have financial goals for your photo organizing business?
  • Are you on track?
  • Do you factor in taxes and expenses?
  • How many weeks per year do you want to work?
  • Do you know how many billable hours you need to work?

In 15 minutes or less, you’ll get an excellent overview of your business and can use this powerful information to set your prices so you can confidently answer the question – what does a photo organizer charge!

Now it’s your turn! Can’t wait to hear if you give yourself a raise!

p.s. the calculator does not work on mobile devices – sorry.

 

35 – 40% is the recommended percent for taxes and expenses.
Your information is private. We cannot see the numbers you enter.

Important Note: This calculator is designed to provide general guidance and estimates. It should not be relied upon to calculate exact taxes, income or other financial data.
You should consult with a professional advisor or accountant for your specific requirements.

Leave a comment below to share what you have learned. Are you charging enough? Should you raise your prices?

21 thoughts on “2020 Income Calculator – Know Your Numbers!”

  1. I love the reminder to check this every so often. I have done it in the past, but then filed the info somewhere deep in my brain so that I forgot it. Now i have it recorded in a different place and will use it to up my game!!!
    Thanks

    1. Sherra Humphreys

      You’re right Jodi! We all do need to check the calculator and kudos to you for wanting to up your game!! 🙂

  2. What a great resource. I’m currently switching my business plan from “one and done” projects to recurring VIP clients. When I compared my “one and done” rates with my VIP rates into this calculator….a big light bulb went off. It seems that my “one and done” rates were working me into the ground, I was so busy but not making a big profit. This calculator (along with Sherra and Rita’s other class resources) has made me realize that my previous business plan was not working for my own work/family life balance. Now, I know that the VIP business plan would work better for my personality and goals.

    Regardless of which business plan is right you, this calculator is very helpful. I’m going to bookmark this so I will have it as a reference in the future to play with. Thanks Sherra and Rita!

    1. Sherra Humphreys

      Jenny – So happy that you found this so helpful and we’re so excited to be on this journey with you as you change your business plan with a better eye on profitability!! 🙂

  3. I don’t come from a business background, so this was kind of an eye opener for me. Now, I completely understand how my husband, a salaried executive, used to ‘joke’ about all the long hours he put in just lowered his hourly wage.

    I think we need to explain this to our kids too to show them the realities/benefits of wages, hours worked, taxes, etc.

    Thank you.

    1. Sherra Humphreys

      Lori – You’re right and everyone should teach this to their kids too! I always say that everyone does (or should) know their “hourly wage” no matter what profession they are in!

    1. Sherra Humphreys

      Rachel – We tried to keep it as simple as possible so glad to hear you like it. We all know there are tons of other business numbers to crunch but we believe this is the best starting place!

    1. Sherra Humphreys

      Teri – That’s the part I really love too! I want that flexibility to work less but still meet my financial goals. Yay for small business owners! 🙂

  4. Standolyn Robertson

    Love this tool. I really like the 40% off the top. It really helps to paint the real picture of doing business.

    1. Sherra Humphreys

      Standolyn – you are so right about the real picture! Adding up the income is always fun but factoring in that 40% estimated (plus or minus) is important too!

  5. Wow. Thank you. I’ve been in business for 7 years and had my head in the sand of denial about this subject. The calculation was an eye-opener. Love your other content I’ve received as well. Can’t wait for your classes. So grateful for resources like this and APPO in particular. Great content and so much to learn, and more importantly things I can apply to improve my business!

    1. Sherry, Thank you for your comment. Money is always a sensitive topic and we are glad that the calculator was useful in bringing it to the forefront of your business. Looking forward to hearing more from you and the changes you implement to improve your business.

  6. Great tool! My hours per day and week to meet my goal is certainly do-able. It’s a matter of getting those hours in with administrative tasks that need to be done as well. How about adding the administrative time into the formula? How much time should we be spending on non-billable tasks?

  7. Love the tool! Learned that I am charging enough – more than I need actually for the income I want, and the hours I want to work.

  8. Marianne Behler

    What a great way to help create a business plan. The payoff comes when you factor in “time off to vacate!” I love seeing the billable hours per day and week. My hourly rate ended up being spot on. I also loved being able to factor in time off and seeing how when I work pays for my time off!

    Great tool. Thank you Sherra and Rita

  9. This is a fabulous tool. I like being able to tweak the variables one at a time to see how one change can affect the outcome. Also played with varying the number of weeks and annual take home pay to see what could be adjusted to reach certain goals. As the billable hours needed per day is changed, it helps me to see how many clients or even just half-day sessions I need to add and then consider staffing to meet those goals!

    Very useful – wouldn’t change a thing.

  10. I love this. I’m in the middle of doing some business planning and it really made me realize:
    – I don’t have a good grasp of my total expenses compared to income. I need some better financial systems in place without a doubt.
    – Gave me a reality check on how much I need to charge/hour knowing that my whole day isn’t spent on billable hours and I don’t want to work 14 hours a day everyday!
    – I have options. If I only want to work 4 days/week, this is what I will have to do during those 4 days if I want to work X amount.

    I’m going to continue to play with the calculator. It’s so simple, but so impactful and a really excellent business planning tool. Thanks!

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