How to Calculate Your Hourly Rate As A Handyman Part Two

Step 3: Taxes

You are going to need to pay taxes. There are some taxes everyone has to pay and some taxes that may vary by state. The following just examples and you should meet with a tax professional to make sure everything is included.

  • Self Employment Tax- You need to set aside at least 15.3 percent of your total earnings for this tax. This will cover Social Security and Medicare. Most people have these taxes automatically taken out of their paycheck. As a person that is self-employed, you will need to cover these expenses. They may change from year to year.
  • Federal Income Tax- This will depend on the amount of money you make during the year. The more you make, the higher the percentage the government will take. Many handymen will need to pay between 15 to20 percent of their total profits.
  • State Income Tax- this will vary from state to state
  • Additional Taxes- you may be subject to additional taxes and possibly local taxes.

Add up all your taxes to get the total percentage you will owe.

For example:

  • Self-employment: 13.3%
  • Federal Income Taxes: 15%
  • State Income Tax 0%
  • This brings your total to 28.3%

local handyman installing a doorknob

Step 4: Setting an Hourly Rate

You need to figure out how many hours you are going to work each month. You may spend 40 hours working, but you need to include the time you spend on providing quotes, returning phone calls, driving, and other measures. You may work between 25 and 35 hours a week.

You will not be paid for every minute of your time. You will get paid when working for the customer.

You need to figure out how many hours you can realistically work. You need to have some time for your family.

I aimed to work at least 26 billable hours a week. I had time for personal life and office tasks.

Step 5: Work with the Numbers

Now that you have the numbers it is time to get them to work for you.

For Example:

  • Monthly living expenses =L
  • Business expenses= B
  • Billable hours=H
  • Total tax percentage= T

This is based every month. You rate is L/ (H* (1-T)) + B/H

Example: if you need $5,000 a month to live your and your business expense is $1,200 and your taxes will be around 30% you should plan to work around 32 billable hours.

  • Living Expenses : L=5,000
  • Business Expenses: B=1,200
  • Billable Hours: H=128
  • Tax rate= .03
  • This will come out to 5,000 / (128 * (1-.3*)+1,200/128 with is a total of $65.18 per hour.

You will need to charge at least $65 an hour to make a profit and keep up your lifestyle.

This formula can help you figure out the minimum rate that you need to charge. This number is often higher than what you were thinking.

Step 6: Evaluate

You now know your monthly expenses and the amount you need to charge an hour.

Is this amount reasonable? Can you charge this rate based on your experience, education, and qualifications? If this seems reasonable you can go make some money.

This amount seems high you need to think about why it is high. Many handymen undervalue their services. Sometimes they may not want to charge that much and other times they do not know how much they are worth.

Do not shortchange yourself.

I did not charge enough and this costs me tens of thousands my first year in business. You need to learn business skills so you can make the money you need. You are worth more than you think.

Be sure to check out the Handyman Hourly Rate Calculator by following the link shown below. This calculator will help you will the math and will show you the common expenses and taxes you are paying. This will help save you both time and money.

The Surrey Handyman
14577 105a Ave, Surrey, BC V3R 1S2
(604) 670-7177
http://gogohandyman.ca

How to Calculate Your Hourly Rate as a Handyman Contractor

As a handyman, how much should you be charging an hour?

There is an answer for this, and I will help you figure this price out. This is the same formula you can use as a handyman, online freelances, or another person that provides any service.

The rates for handyman vary. Some charge as much as $100 an hour because they are doing a professional job. There are others on sites such as Craigslist that are willing to work for $10 an hour.

Where do you fit in? What price should you be charging handyman customers?

You are going to find the answer to this. There is a step by step process that will help you get the price that you should charge.

You can charge by the hour, provide a quote for the job, or have a flat rate based on a standard service. You can find success in this way.

handyman near me working outside

Ways to Determine Your Hourly Rate

When running a business, you are working to make a profit. You need to charge your customers enough money to make a profit and maintain your lifestyle. If you cannot do these things it does not matter how cheap the competition is, you will not be able to survive.

If you do not charge enough money, you will work long hours and have nothing to show for it. Your business will not be a success, and you will need to find another job.

You need to charge enough money to cover your monthly bills. This is known as Cost-Based Pricing and is a way to make a profit.

You need to find a minimum price to cover your life and your business expenses. You can charge more than this amount, and it is recommended.

This is only the first step.

Step 1: List Your Living Expenses

How much does it cost for you to like a comfortable life?

List all of your expenses even the ones that you may only pay once a year. Give each one of them a monthly value. Take some time to make sure everything is included and add a little extra for unexpected expenses. This will you figure out how much your normal lifestyle costs. If you are saving for retirement, including this in the list as well, including any insurances that you need to pay.

You can look at the salary from your job and see if you are making enough money to support your living expenses.

handyman doing electrical work indoors

Step 2: Business Expenses

You now need to add up your business expenses. There are some things that you should be thinking about. They include:

  • Cost of health insurance
  • Costs of liability insurance
  • Tools
  • Advertising expenses
  • Mileage and vehicle maintenance
  • Cost of a website
  • Office supplies
  • Phone costs
  • Internet
  • Mailbox rentals
  • Any licenses fees

To get additional details to check out part two of this article.

The Surrey Handyman
14577 105a Ave, Surrey, BC V3R 1S2
(604) 670-7177
http://gogohandyman.ca

What Can A Handyman Legally Do?

What Can A Handyman Legally Do?

One natural question on online forums is; what can a handyman legally do? Previously, handymen could do all types of jobs. However, nowadays they are limited to tasks that don’t need a license. Handymen do lots of things, some of which may surprise you.

Many handymen discovered that they could earn a living by just doing what they love. For instance, some of them do other types of work. Some are semi-retired trades persons while others just prefer being active and earning a living out of it.

The best handyman can do any job around the house. Some of them have licenses which they renew when required. An ideal handyman can be an electrician, plumber, carpenter, painter or a cabinetmaker.

 

When it comes to hiring a handyman or handywoman, make sure you check Licensed Trades to known if a license is required for the job you need him or her to do. If you find that it needs someone with a permit, you should ensure you hire a licensed handyman. Among the benefits of hiring one with licensing is that they may offer you a lower rate and be able to do other jobs around the house.

There is no job which is large or small for a handyman. A licensed and qualified handyman will have the right tools for the job and know how to use them. Below are some of the tasks that a handyman can do.

5 Jobs Which You Should Consider Hiring A Handyman

  1. Furniture Repair and Assembly
    You may have bought a flatpack kitchen or flatpack furniture. A handyman can put the flatpack together. They may not be able to the electrical and plumbing work, but between the lower cost of a flatpack kitchen and the fees offered by the handyman, hiring them is the best way to renovate or repair your kitchen on a budget. These tradespeople can also repair your furniture for you since they have garages with workshops and have the best woodworking tools. If you have complex jobs, look for a handyman with experience as a cabinet maker.
  2. Build a Cat Sanctuary or Doghouse
    In some instances, you may have to hire a handyman to build dog houses. Expert handymen can build ordinary doghouses to dog mansions. The best candidate for this job should be handyman with experience as a carpenter or builder. Your doghouse may not require being built to code, meaning a building license isn’t needed. On the other hand, you can ask a handyman to build a dog sanctuary. You can also ask your handywoman to create a suitable shelter. It can include playing equipment, places, and swings for cats and shelves to rest.
  3. Rescue Services
    Handymen are at times asked to rescue animals. For example, a dog or cat may be stuck in a fence. Handymen have tools and ladders, which they use to save animals. It may be wiser to call animal rescue services. However, by choosing to contact handymen, you can make the process easier.
  4. Cleanups and Jobs
    Another job that you can hire a handyman to do is to clean your yard or your house. Other tasks include cleaning the car interiors or taking it to the auto repair service. In some instances, clients have asked handymen to take senior citizens to shops. It means that being a handyman doesn’t restrict one to traditional jobs.
  5. Other Jobs Which You Can Hire A Handy Man
    You can hire a handy person to do jobs which other people are unwilling or unable to do. They may include changing light bulbs, painting, hanging a mirror and installing a flat screen TV on a wall.

Summary

Did you want to know what can a handyman legally do? Hiring a handyman should be faster using the above informative post. Remember that they charge their rates are per hour. If you call them to change a lightbulb, you will also have to pay for the time they spend on the road, which means you should ensure there are other tasks to do. On the other hand, you can look around if there are other minor repairs you want to be done if the handy person is already on your premises.

This post was written by http://gogohandyman.ca/

Things to do in Surrey, BC in the Rain

Things to do in Surrey,
BC in the Rain

It can be difficult to come up with fun ideas while it’s dark and wet outside. Can you imagine how much more difficult it would be in another country? If you are visiting, Surrey, BC, here is a list of family-friendly activities to brighten your day when it’s raining.

 

1. Go to a museum or gallery.

Surrey has many museums to find sanctuary in. The Brooklands museum, for example, has a spectrum of exhibits ranging in motoring and aviation. Not to mention, its the only one in southeast British Columbia with public access to the Concorde. If those don’t catch your eye, immerse yourself in the Napier Railton 4D race experience!

As far as galleries are concerned, check out the Watts gallery in Compton. A gallery, which includes: contemporary art, a chapel, tea, and gift shop, along with a studio, dedicated entirely to George Fredric Watts. The bold, bright colors are sure to take your mind off the rain.

Are you having difficulty choosing between a museum or gallery? If so, The Lightbox, has you covered. A unique museum has the best of both! There is also a quaint, little coffee shop inside.

2. Visit Hampton Court

Visit Hampton Court, the most beloved palace of King Henry VIII. Located just off the banks of the river Thames, this history hot spot was built for admiration. Visitors can also tour the Tudor kitchens, where live culinary demos happen frequently or marvel at the Staterooms. Exhibitions, activities, and parts of the palace available to the public are ever-changing; please visit the website before visiting for additional details.

3. Visit Denbies.

Get an exclusive insight into the production of local wine and cheeses at Denbies. Specializing in both indoor and outdoor tours, witness the process from the inside and save the grapevines for a sunny day.

4. Book yourself for an event at Grayshott

Are you looking to try something more creative? Then, go book an event at Grayshott Pottery. You can choose anything from plaque making and pottery painting to chase those rain clouds away.

5. Visit Guildford Spectrum

An indoor play palace that includes: a 32 lane bowling alley, an Olympic-sized skating rink, and a swimming pool; for those of you that would still enjoy a nice dip without the hassle of rain. With everything that is offered, Guildford has to be the ultimate getaway.

6. Craggy Island Climbing Center

Get your blood pumping at Craggy Island. This place has the best indoor rock climbing experience for everyone. From beginners and children to experienced climbers, there is something for all ages and skill levels.

7. Jump around at a trampoline park

Located at Camberley in Guildford is Gravity Force. There is an enormous foam pit that contains over 6,000 cubes for your jumping pleasure, basketball courts, workout out classes, and an exclusive street dance club at this location only.

8. Go to the movies

Here is a classic. Movie days are great for any occasion but, they are a staple activity for rainy days everywhere. Check out the Landmarks Cinemas 12 in Guildford for local listings and showtimes.

9. Watch a live show

Watching a stage play instead of a movie is a more romantic spin on the traditional “movie day” but, equally as good. Whether it is a romantic comedy or a drama, visit the Yvonne Arnaud Theatre. If you are more interested in live music, comedy shows and other mixed media performances, the local favorite, G live, is definitely the place to be.

10. Slip into a pub for sanctuary

Using one of our previously listed activities, movies have proven numerous times, that pubs are great for rainy days. There’s nothing more satisfying than local tipple at the Samz Neighborhood Pub or Guildford Station Pub.

11. Shopping and exploring in the towns

Shopping is always great. it doesn’t matter what the weather is like outside because we are enjoying the items on the inside. Every town has it’s own unique shopping scene. To help you out, remember, if you are looking for antiques, Farnham and Dorking are the places to be. For independent shops and little town charm, visit Haslemere and Godalming. However, if the designer and luxury brands are what you desire, head to Guildford, Woking or Kingston.

This post was written and developed by thesurreyhandyman.ca

GoGo Handyman
14577 105a Ave Surrey, BC V3R 1S2
(778) 850 – 1028
sales@gogohandyman.ca

Hours:
Monday to Sunday
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