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.
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.
Gross margin is Gross income as a percentage of revenue. Net Margin is net income as a percentage of revenue.
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".
Under current U.S. accounting standards, gross profit is the difference between net sales revenues and cost of goods sold over a given period of time. Net income is gross profit less all other business expenses incurred or paid during a particular period of time. Both gross profit and net income appear as separate line items on an income statement. Generally, the "bottom line" is net income after taxes. "Earned income" is an income tax concept which refers to income that comes from the taxpayer's sale of goods and services - so for an individual (who "sells" his labor to his employer in return for a paycheck), "earned income" would include wages, commissions and other compensation. Unearned income would include interest, dividends and other items that are not compensation.
Revenue is all the money a business brings in. Net income is revenue minus all the expenses of the business. Net income is profit.
Gross and NetGross refers to the total and Net refers to the part of the total that really matters.Gross vs Net IncomeIn accounting, for a P&L (profit and loss statement, Gross profit, or Gross income, or Gross operating profit is the difference between revenue and the cost of making a product or providing a service, before deducting overheads,payroll, taxation, and interest payments. Net profit is equal to the gross profit minus overheads minus interest payable plus one off items for a given time period.Gross Margin vs Net MarginGross margin is the ratio of gross profit to revenue. Net margin is the ratio of net profit to revenue.Gross is the profit from the transaction without deduction. Net is the profit from the transaction after deducting cost of goods and cost of the sale (manpower, taxes, rent, 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.
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.
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.
net income is gross income less expenses