Gross pay is pay before taxes have been deducted were net pay is after taxes.
Gross = Before TaxesNet= After Taxes
If looking at your pay stubs, you gross pay represents your total pay before taxes. The net pay is your pay after taxes.
Your gross YTD goes on your w-2. This gross amount is before taxes, and the net is after taxes. The government is concerned with what you made prior to taxes. Your net is what you take home after your taxes come out.
Your income before taxes is your operating income, and your income after taxes is your "net" income. * + Net Sales (Sales - Returns) * - Cost of Goods Sold * ------------------------------------ * = Gross Profit (Gross Margin, Gross Income) * - Operating Expenses * ------------------------------------- * = Operating Income * + Gains (not related to usual operations) * - Losses (not related to usual operations) * ----------------------------------------------------- * = Earnings before Interest and Taxes * - Interest * - Taxes * ------------------------------------------------------ * Net Income
Gross pay is pay before taxes have been deducted were net pay is after taxes.
the pay before taxes net pay is after taxes
No ... Net pay is what you get to take home after taxes. Gross pay is your salary before taxes.
Gross = Before TaxesNet= After Taxes
If looking at your pay stubs, you gross pay represents your total pay before taxes. The net pay is your pay after taxes.
Net Income is after taxes.
Your gross YTD goes on your w-2. This gross amount is before taxes, and the net is after taxes. The government is concerned with what you made prior to taxes. Your net is what you take home after your taxes come out.
Your income before taxes is your operating income, and your income after taxes is your "net" income. * + Net Sales (Sales - Returns) * - Cost of Goods Sold * ------------------------------------ * = Gross Profit (Gross Margin, Gross Income) * - Operating Expenses * ------------------------------------- * = Operating Income * + Gains (not related to usual operations) * - Losses (not related to usual operations) * ----------------------------------------------------- * = Earnings before Interest and Taxes * - Interest * - Taxes * ------------------------------------------------------ * Net Income
Gross is what is made prior to all tax deductions. Net pay is the actual amount made. For instance if your check before taxes is $500 that is your gross pay. If after taxes it is $409 that is your net pay. The same can be applied to volume.
That is called your Net income. Before taxes it is called Gross income.
gross pay: the amount made before taxesnet pay: the amount after subtracting taxes and benefit from your gross pay
Annual income is gross salary before taxes. Net income is after taxes.