How Do I Set My Hourly Rate for the First Time?

Formula: (Annual income goal + overhead) ÷ billable hours. Example: $80,000 goal + $24,000 overhead = $104,000 ÷ 1,200 billable hours = $87/hour. Most contractors only bill 4-6 hours per 8-hour day (travel, admin, estimates). Never charge "what feels right" — do the math.