Overall, you need to calculate that at least 60% of what you make, if not more, will vanish into expenses, taxes, and social security. It might be a bit less than that depending on your overall income (I am married and we are taxed jointly), and the need for specific tech equipment, but not much.

I am ok with the notion of paying taxes, it’s necessary to live in a society, all good. What kills me is that 25% social security fee which I ultimately have to charge my clients too.

What’s even more important, and I can never say this enough, never underestimate that not every hour is a billable hour. Your rates need to pay for your time also when you’re doing prospecting, bookkeeping, troubleshooting IT failures, and whatever the f happens that day.