A health information consultant charges $150 per hour and works the equivalent of 200 billable eight-hour days per year. Taxes, insurance, travel, and other expenses consume about 70 % of the consultant's gross revenue. What is the consultant's net annual income after taxes and other expenses?

Question

Quizplus · Accepted Answer

The consultant's gross annual income is $150 per hour * 8 hours/day * 200 days = $240,000. After expenses, which consume 70% of the gross revenue, the net income is 30% of $240,000, which is $72,000.

A Health Information Consultant Charges $150 Per Hour and Works