Gross income is the total amount of money you earned, before taxes and any benefits are paid for. Net income is the amount of money you actually received on your paycheck after taxes and any benefits you contribute toward are taken out.
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Gross income is the raw income earned while net income is after deductions of interest taxes while taxable income is that income on which tax is calculated.
Gross is what you make before taxes and anything else is taken out. Net is what you take home after it is all taken out.
Just remember the fact that "gross" is german (and also french) for "large" therefore gross is "larger" than net. so in the case of income for example...your gross income is "larger" than your net income (i.e. gross income is before tax). in the case of a can of food, gross weight is "larger" than net weight (i.e. gross is weight of the food+tin+water...net weight is weight of just the food).
Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.
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Gross margin is Gross income as a percentage of revenue. Net Margin is net income as a percentage of revenue.
Gross income is the difference between revenue and direct expenses while net income is the income from all activities of business whether oprating activities or other activities.
Your gross income is your income before anything is taken out. Your net income is your remaining income after deducting taxes and expenses--so on your paycheck, your net is your "take home pay".
Gross income is the raw income earned while net income is after deductions of interest taxes while taxable income is that income on which tax is calculated.
Gross is what you make before taxes and anything else is taken out. Net is what you take home after it is all taken out.
Gross is how much you make all together, and net income is how much you make after taxes and stuff
Just remember the fact that "gross" is german (and also french) for "large" therefore gross is "larger" than net. so in the case of income for example...your gross income is "larger" than your net income (i.e. gross income is before tax). in the case of a can of food, gross weight is "larger" than net weight (i.e. gross is weight of the food+tin+water...net weight is weight of just the food).
Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.
Gross income: the overall income, from which expenses and tax are not yet deducted. Net income: the pure income, left after deducting all expenses and tax. Taxable income: the income before tax, deducted all expenses except tax.
Gross pay is the number of hours times base hourly rate. Net is what is left after Insurance, FICA, Fed and State deductions. In other words, Gross is what you make, Net, is what you spend.
net income is gross income less expenses