Answers.com > Wiki Answers > Categories > Science > Social Sciences > Economics > What is the difference in Gross income versus Net income?

What is the difference in Gross income versus Net income?

In: Economics, Mathematical Finance, Financial Statements [Edit categories]

Answer:

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

First answer by ID1084369660. Last edit by ID1186053644. Question popularity: 13 [Recommended].

[report abuse]

Can you answer these Economics questions?

	What the European union can do for you?	Answer it!
	What are the elements of the economic system of government?	Answer it!
	What are the equilibrium forces?	Answer it!
	Why is economics like sciences?	Answer it!
	What are the factors considered in organizing food service management?	Answer it!

Relevant answers:

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...
Why is there a difference between gross and net income?
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.
Is annual income your gross or net income?
if by annual income you mean sum of all type of incomes during the year then yup its the net income.
What is the difference between Net Income and Net Operating Income?
Net operating income (must be a positive number, otherwise would be net operating loss) is the amount after expenses have been deducted out of sales, BUT before INTEREST and INCOME TAXES have been...
What is the difference between adjusted gross income and gross income?
Gross income on the 1040 income tax return is the total amounts of all of your worldwide taxable income added together that is on page 1 line 22 Total Income of the 1040 tax form. From the line 22...

What is the difference in Gross income versus Net income?

Can you answer these Economics questions?

Relevant answers:

Related ads:

Home

Answer these

Recent questions

Featured guides

Site

Company

Community

Updates

International sites