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What is the difference in Gross income versus Net income?

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Gross income usually is the money someone or something has earned before any deductions such as taxes, expenses, or promotion has been deducted. If you are receiving money after such expenses have been deducted, you are receiving money based on NET income.
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What is the difference between gross income and net income?

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 af

Gross vs net income?

Gross and Net Gross refers to the total and Net refers to the part of the total that really matters. Gross vs Net Income In accounting, for a P&L (profit and loss stat

Difference between gross income and income?

Income is a general term referring to one's financial gain, whether earned or unearned, received as wages, or for services, from the sale of goods or property, or as earnings

Is annual income your gross or net income?

Your annual income is generally your net income - what you earned (gross income) minus the taxes and pre-tax benefits you pay for prior to getting your paycheck (deductions).

If your net income is 47000 what is your gross income?

Jones bought an income property for which $47,000.00 was deducted from gross income for operating expenses. If the operating expenses are 30% of gross income, the value of the

Difference between net income and gross income?

Gross income is the difference between revenue and direct expenseswhile net income is the income from all activities of businesswhether oprating activities or other activities

What is the difference between gross income net income and taxable income?

Gross income is the raw income earned whilenet income is after deductions of interest taxes while taxableincome is that income on which tax is calculated.

What income is higher net income or gross income?

Normally gross income is higher than net income as gross incomeonly includes direct expenses for manufacturing of goods while innet income other administrative expenses are al