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Profit Calculator

Struggling with complex profit calculations? Harvest helps you track project budgets and profitability trends, guiding smarter business decisions.

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What should you charge per hour?

Most freelancers and consultants dramatically undercharge. This calculator accounts for what most people miss: non-billable time, taxes, and overhead.

$
Accounting for vacation, holidays, sick days
60%
Most freelancers can bill 50-70% of their time. The rest goes to admin, marketing, proposals, and learning.
$
Software, insurance, equipment, accounting, taxes beyond income tax, etc.
Your break-even rate $0
Recommended rate (+20% buffer) $0
Billable hours per week 0h
Equivalent daily rate $0

Start tracking your billable hours

How this hourly rate calculator works

It works back from the income you need to the rate you must bill, accounting for the hours you can't bill.

  • Billable hours/year = working weeks × hours per week × billable %.
  • Break-even rate = (target income + business expenses) ÷ billable hours.
  • Recommended rate = break-even plus a 20% buffer for taxes, slow periods, and profit.

Raising your billable percentage or trimming expenses lowers the rate you need.

Calculate Profits with Harvest

See how Harvest helps you track project budgets and profitability trends, making profit calculations easy and insightful.

Harvest dashboard showing profit calculations and project tracking

Profit Calculator FAQs

  • To calculate profit margin, subtract your total costs from your total revenue, then divide this number by your total revenue and multiply by 100. This gives you the percentage of revenue that is profit.

  • You need to input your total revenue, cost of goods sold (COGS), and operating expenses to calculate gross, operating, and net profit margins. These inputs help determine how efficiently your business generates profit.

  • Gross profit is the revenue remaining after subtracting the cost of goods sold, while net profit is the "bottom line" after all expenses, including operating costs, interest, and taxes, have been deducted.

  • Improving profit margins can be achieved by reducing production costs, increasing your product prices, or enhancing operational efficiency to lower expenses. Regular analysis with a profit calculator can help identify areas for improvement.

  • Harvest helps track project budgets and profitability trends over time, aiding in the evaluation of business health. This insight is crucial for strategic planning and improving profit margins.

  • While Harvest focuses on tracking project budgets and profitability trends, it does not specifically calculate gross profit margins. It provides the data needed to analyze profitability trends over time.

  • Yes, some profit calculators are tailored to specific industries, accounting for sector-specific variables and benchmarks. Choosing an industry-specific calculator can provide more accurate insights for your business.