Most freelancers who work exclusively via the Internet are used to getting paid byPayPal. Unfortunately, PayPal’s fees build up quite quickly, taking a chunk out of your hard-earned income.
That’s where thisPayPal Fee Calculatorcomes in handy. The calculator is useful if you want to figure out how much you’ll pocket after PayPal takes its fee, but even more handy is its Reverse PayPal Fee Calculator.
Simply put the amount you were going to charge your client in the “To receive this amount” field and, right underneath, the calculator will show a new figure. This figure is what you need to bill your client to receive that amount after fees.
Even if you’re putting your PayPal fee on your client, remember to track how much PayPal takes from all of your business income. Those fees are tax deductible, and if you keep records properly it can add up to a substantial tax saving at the end of the year.
Story byJoel Falconer
Joel Falconer is the Features Editor at TNW. He lives on the Gold Coast, Australia with his wife and three kids and can sometimes be found g(show all)Joel Falconeris the Features Editor at TNW. He lives on the Gold Coast, Australia with his wife and three kids and can sometimes be foundgamingorconsulting. Follow Joel onTwitter.
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