After taking out the cost for the label, producers, songwriters, managers, lawyers, agents, etc. The Average artist will be looking at getting maybe a little over $50,000/Year. Then you have to include taxes, and it goes down from there.
Gross income.
YOU are being taxed on all of your gross worldwide income from all sources that you have reported on your income tax return for the year.
net income is gross income less expenses
Gross income in normally higher then net income unless there is other income then normal business operations then net income may be higher then gross income.
The total of all of your GROSS WORLDWIDE INCOME would be your GROSS INCOME that will be reported on your 1040 federal income tax return. That is every amount that is income to you for the tax year.
Gross income is generally your total income. Net income is what you actually end up with to pay your bills. Gross income minus taxes & other deductions (such as disability insurance) equals net income.
Another word for gross income is taxable income. This is the income before taxes are taking out.
You pay tax on your adjusted gross income. This is not quite the same thing as gross income, but it's definitely not net either.
the gross monthly income for a politician is $6300
gross income
Gross Spread for Banks = (Net Markup Income/Gross Income)
Gross Income - Above the Line Deductions = Adjusted Gross Income - (Deductions +Exemptions)= Taxable Income