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It means your gross income minus the net tax deductions, the tax deductions as federal income taxes, state taxes, Fica, medicare, SUI/SDI. Other taxes are not included, such as, life insurance, charity, or debts that are taken automatic from your paycheck.
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∙ 12y ago
Anonymous
Gross income from the most recent federal income tax
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Net income is equal to your gross income plus taxes?
That would do it for me, but unfortunately for me my net income is equal to my gross income minus taxes.
Are taxes deducted from gross income or net income?
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.
Does annual income mean with taxes?
Annual income is gross salary before taxes. Net income is after taxes.
How do you calculate your net income after taxes?
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
What is the difference between gross income net income and taxable income?
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.
What is after taxes net or gross?
Net Income is after taxes.
Net income is equal to your gross income plus taxes?
That would do it for me, but unfortunately for me my net income is equal to my gross income minus taxes.
Are taxes deducted from gross income or net income?
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.
Does annual income mean with taxes?
Annual income is gross salary before taxes. Net income is after taxes.
How do you calculate your net income after taxes?
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
What is the difference between net and gross on a paycheck?
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".
If your wages are 39133 what is your net income?
Your net income is whatever amount you actually get after taxes are taken out. The 39,133 would be your gross income.
What is the difference between gross income net income and taxable income?
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.
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).
What do you call the amount a person takes home after taxes?
That is called your Net income. Before taxes it is called Gross income.
Do income taxes increase or decrease your gross pay?
Decrease. The tax is taken OUT of the gross leaving a net.
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 after taxes and any benefits you contribute toward are taken out.
