I built a free Google Sheets template for freelancers to calculate true project profitability.
As a freelancer, I realized I was losing money on "profitable" projects because I wasn't tracking non-billable hours, software expenses, and tax reserves properly.
So I built this Freelance Project Profitability Calculator — it automatically:
- Tracks billable vs non-billable hours
- Calculates effective hourly rate
- Sets aside 25% for taxes
- Shows profit margin per project
- Highlights unprofitable work
Key formulas used:
- Net Profit = Revenue - Expenses - Tax Reserve
- Tax Reserve = Gross Profit × 25%
- Break-Even Hourly Rate = (Expenses + Tax) / Hours
You can grab the template on Gumroad — it's a fully functional Google Sheet with sample data and pre-built formulas.
I'd love feedback on which features would make this more useful for your freelance workflow!
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