A self-employed personal trainer generates a certain amount of net income when they are working on delivering training sessions. Administrative tasks such as taxes occupy the trainer's time and does not allow them to generate additional income while they perform these other tasks. The trainer is considering hiring a tax accountant to file the taxes for the trainer. This will both save the trainer time, and the accountant will generate addition net income for the trainer in the form of tax savings. However, the trainer must also consider the expense of hiring the tax accountant. Trainer's Hourly Net Income $55.00 Time for Trainer to Complete Taxes (hrs) 8 Price of the Tax Service $1,225.00 Additional Net Income with Tax Service 1% Based on the above information, what is the Annual Revenue for the personal trainer that is needed to justify hiring an accountant? (round to the nearest penny)

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To calculate the annual revenue needed to justify hiring a tax accountant for the personal trainer w... View the full answer