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In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period. [1] [better source needed]
Net income, also known as net earnings, is the total revenue of a company minus operating costs. This includes the cost of goods, taxes, interest, operating expenses, selling, general and ...
A revenue stream is a source (or category of sources) of revenue of a company, other organization, or regional or national economy.. In business, a revenue stream is generally made up of either recurring revenue, transaction-based revenue, project revenue, or service revenue.
Both gross income and net income can refer to an individual and a business. For individuals or employees, gross income is the total pay you earn from employers or clients before taxes or other ...
In U.S. business and financial accounting, income is generally defined by Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board as: Revenues – Expenses; however, many people use it as shorthand for net income, which is the amount of money that a company earns after covering all of its costs as well as taxes.
Data source: Federal Reserve. Calculations by author. You'll also notice a metric called "net worth multiple" at the bottom of the table. That's how much the median household is worth relative to ...
A net (sometimes written nett) value is the resultant amount after accounting for the sum or difference of two or more variables. In economics , it is frequently used to imply the remaining value after accounting for a specific, commonly understood deduction.
(Monthly housing costs)/(Monthly gross income) ≤ 28% Whether you rent or are paying your mortgage, your regular housing payments generally should not exceed 28% of your gross monthly income.