| A | B | C | D | E | F | G | H | |
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1 | DIRECTIONS: To copy this sheet for yourself, go to 'File' and choose 'Make a Copy' or 'Download as'. | |||||||
2 | There are 3 examples in this spreadsheet: an hourly worker who makes $35k/year, a salaried worker who makes $65k/year and has a side hustle that makes $8k/year, and an entrepreneur who owns a business that makes $270k/year. All of these numbers are before taxes and expenses, which are also calculated on the spreadsheet. Click on the tabs at the bottom of the sheet to view them. | |||||||
3 | ||||||||
4 | STEP 1: Time | Monthly Average | Annual | |||||
5 | Total Working Hours | 208.3 | 2500 | |||||
6 | ||||||||
7 | STEP 2: Money | Revenue | ||||||
8 | Annual Income | $35,000.00 | ||||||
9 | Taxes (25% estimated) | $8,750.00 | ||||||
10 | Take-Home Pay | $26,250.00 | ||||||
11 | ||||||||
12 | ||||||||
13 | Step 3: Realized Income Methods | |||||||
14 | Averages | Hourly Rate | 5-Minute Rate | 15-Minute Rate | Daily Rate (10 hours) | Weekly Rate (5 days) | ||
15 | $9.16 | $0.76 | $2.29 | $91.60 | $458.00 | |||
16 | Take-Home Pay Method | Rate | ||||||
17 | $26,250.00 | $10.50 | $0.88 | $2.63 | $105.00 | $525.00 | ||
18 | ||||||||
19 | Market Rate Method | Market Rate | ||||||
20 | Alternate Job 1 | $24,000 | ||||||
21 | Alternate Job 2 | $38,000 | ||||||
22 | Average Rate | $31,000 | ||||||
23 | Taxes (25% estimated) | $7,750 | ||||||
24 | Take-Home Pay (estimated) | $23,250 | $9.30 | $0.78 | $2.33 | $93.00 | $465.00 | |
25 | ||||||||
26 | Cost-Based Method | Estimated Rate | Time Split | |||||
27 | Potential Employee for Task 1 | $20,000 | 40% | |||||
28 | Potential Employee for Task 2 | $28,000 | 20% | |||||
29 | Potential Employee for Task 3 | $30,000 | 40% | |||||
30 | Weighted Average Rate | $25,600 | 100% | |||||
31 | Taxes (25% estimated) | $6,400 | ||||||
32 | Take-Home Pay (estimated) | $19,200 | $7.68 | $0.64 | $1.92 | $76.80 | $384.00 | |
33 | ||||||||
34 | STEP 4: Expected Value Methods | |||||||
35 | *See the Entrepreneur Example tab at the bottom of this spreadsheet. | |||||||
36 | ||||||||