Just a thought and I'm no accountant but you could lose the free vacation time to all clients and not raise your rates. Tell existing clients a cost of living raise is essential for running your business, but if they prefer to relinquish the free vac time you will not increase your fee for them. You would have to crunch the numbers to see if this works out $ wise. I used to have one week free vac for my clients but they would beg to use them for their kids sick days and then just vac when I did. Hmmmm I learned my lesson the hard way.