Rate Calculator

How to Use This Calculator:

This tool is designed to help you determine the rates you should set for your online teaching business.

1. Set Your Income Goal:
   Start by deciding how much you want to earn. By default, this calculator is set to calculate monthly income, but you can also use it to estimate your annual income (just be sure to input annual numbers for all fields).
2. Enter Your Monthly Business Expenses:
   These are expenses directly tied to running your teaching business. Examples include curriculum costs, classroom services, or any other tools you use for your online classes. Enter all related expenses here.
3. Input Your Billable Hours:
   These are the hours you spend actively teaching in the classroom. These should be the hours you have scheduled with students on your booking calendar.
4. Account for Taxes:
   If you're based in the US, you'll need to account for taxes. While I'm not a financial expert, it is commonly recommended to set aside 30% for taxes, which includes both the 15% self-employment tax and regular taxes. Check the box if you wish to include this tax adjustment in your calculations.

What if the calculated rate seems too high?
If the rate appears too steep, consider teaching group classes. This approach allows you to maintain a reasonable hourly rate while still achieving your desired income.

Legal Disclaimer:

This calculator is intended solely as a helpful tool to assist in pricing decisions for your online teaching business. It is not intended as tax or financial advice. For specific guidance on your tax obligations and business finances, please consult a professional accountant or financial advisor.

📌 Related Resource: Pricing Strategies for Online Teachers