Career Path > Money Matters

Billing rates

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hamsamich:
My buddy's fiance who acually has some of the contracts and knows about some of the others says the low scale is about 70 an hour for BILLING rate not including per diem.  I was asking to see if the gain is worth getting the chp, which would take alot on my part.  It would be more money per hour but not always more hours and not much more than I make usually. Anyway, that is what she says.  Of course there is always the possibility of making WAY more than normal senior hp money, but I'm talking about low to average.....

yes, I'm talking about BILLING rate in my first sentence.

Already Gone:

--- Quote from: Sun Dog on Jan 15, 2011, 08:10 ---That is not necessarily so.  As the sole proprietor and employee of an LLC you may bill the client $100/hr but pay yourself an hourly rate that is considerably less.

--- End quote ---
A sole proprietor is never his own employee -- he is self-employed.  For tax purposes, there is no such thing as an LLC.  A sole proprietor or Subchapter S Corporation (either of which may be an LLC) pays taxes as an individual.  So if you bill $70.00 hour, your gross individual income is $70.00 per hour.  If you "pay" yourself less than that, the rest is still income, regardless of the fact that you put it into the bank.  The $30.00 per hour (or whatever you "pay" yourself) is your income as wages.  The other $40.00 is your business income.
What you invest back into your business can either be written off as a business expense or depreciated.  But, the bottom line is that your billing rate is your pay rate.
http://www.irs.gov/businesses/small/article/0,,id=98277,00.html

OldHP:

--- Quote from: hamsamich on Jan 15, 2011, 08:58 ---My buddy's fiance who acually has some of the contracts and knows about some of the others says the low scale is about 70 an hour for BILLING rate not including per diem.  I was asking to see if the gain is worth getting the chp, which would take alot on my part.  It would be more money per hour but not always more hours and not much more than I make usually. Anyway, that is what she says.  Of course there is always the possibility of making WAY more than normal senior hp money, but I'm talking about low to average.....

yes, I'm talking about BILLING rate in my first sentence.

--- End quote ---

Sounds like, he said that she said, which then you repeated!  grantime, you have to do what you think is right for you, at this point in time, but remember that a year down the road a potential employer might say, "you did the same thing for X bucks less 12 months ago!

JMO  ;) ;)

hamsamich:
both.

atomicarcheologist:

--- Quote from: Incline on Jan 15, 2011, 05:39 ---I saw a billing rate of $50-$70/HR depending on the level work involved. Consulting was on the low end and project management was $70 and higher. That was about 1.5 -2 years ago. Hope this helps.

--- End quote ---
This price for a CHP seems low to me, and the reason I think that is what I am billed at as a Sr. HP technician.  My billing rate is $67.5/hr.

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