I am a mortgage banker. When determining borrowers income we can gross BAS & BAH up 15% becasue neither are taxable. This increases the gross income of the borrower and their buying power.
Intermediate Transaction Per capita income of individuals
Companies make a profit when their gross income is greater than their expenses. Expenses can include renting equipment and paying employees.
Gross income.
Gross total income is the total income for the country divided by the amount of people therefore you get what each person in the country would get.
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