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Planning your budget based around your gross income is going to create issues as you should plan for your net income after taxes to be about 30% lower to be on the safe side — but it could be ...
It is opposed to net income, defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions). For a business, gross income (also gross profit , sales profit , or credit sales ) is the difference between revenue and the cost of making a product or providing a service, before deducting overheads , payroll ...
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.
Comprehensive income is defined by the Financial Accounting Standards Board, or FASB, as “the change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners ...
For example, passenger ferry of a given size would require substantially more work to build than a bulk carrier of the same size due to the differing design requirements, internal structure, and required level of detail, but simply comparing the gross tonnage or deadweight of each ship would incorrectly show that they took the same amount of ...
The sequence of additional payment, tax calculation, additional payment continues until the recipient receives the same amount, net of all the taxes, as would have been received had there been no taxes. The formula for calculating the total amount of a grossed-up payment is (the amount of the payment) divided by (1 minus the tax rate). Thus, a ...
Gross domestic product (GDP) is a monetary measure of the market value [1] of all the final goods and services produced and rendered in a specific time period by a country [2] or countries.
Gross (surname) G.R.O.S.S. (Get Rid Of Slimy GirlS), a recurring element in the comic Calvin and Hobbes; In golf, the gross score is the number of strokes taken before accounting for any handicap allowances "In gross", legally associated with a legal person as opposed to a piece of land; as in: Easement in gross as opposed to easement appurtenant