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I'm going to be bidding on a position entering expense account information. I've done that kind of thing before, but never paid. (I helped a friend set up the expense records for her cab company.) I have no idea what to charge. It would invovle catching up entries for the year and then maintaining them. Any advice would be great. This is my first foray into contract work.
 

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The rule of thumb is this:<br><br>
Figure out what you would want to earn annually (say $24K for ease of #s). Multiply it by 1.25 (for benefits, increased taxes, employers contribution to ss, etc) and then divide it by the average number of days you will work in a year. 225 is pretty good since you won't work weekends and you won't get paid holidays/vacations/sick days. If you think you won't work that many days a year, you might want to lower this number.<br><br>
($24,000*1.25)/225=$133<br><br>
That gives you a daily rate of $133a day.<br><br>
Divide by 8 to get an hourly rate, which would be approx $16.50 an hour.<br><br>
Btw, this is probably a lot less than they would have to pay an employee to do the same work.<br><br>
Please note that if you are being paid on a 1099 basis, you must file your taxes quarterly. And your client will file a 1099 with the IRS in January. You should receive your 1099 tax form from your client by January 31st.<br><br>
You can also claim some business expenses off your taxes, so start keeping receipts of anything that is business related. A tax attorney can give you more precise guidance.<br><br>
Hope this helps!<br><br>
Siobhan
 
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