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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 ...
Gross income is a way of measuring the profit generated from sales alone, using just your total revenue minus the cost to you for the goods you sold.
For households and individuals, net income refers to the (gross) income minus taxes and other deductions (e.g. mandatory pension contributions). Definition.
Net income is also called net profit. It is calculated as follows: The gross income or revenue is tabulated. Where applicable, the cost of goods sold or cost of operations figure is subtracted from the gross income to yield the gross profit.
Gross pay, also known as gross income, is the total payment that an employee earns before any deductions or taxes are taken out. [6] For employees that are hourly, gross pay is calculated when the rate of hourly pay is multiplied by the total number of regular hours worked.
Adjusted gross income is an important number used to determine how much you owe in taxes. It's a factor in determining your federal tax bracket and taxable income -- the portion of your income ...
A salary is often discussed or given in terms of "Retribuzione Annuale Lorda" (RAL), similar to gross annual salary. Also a severance pay, "Trattamento di Fine Rapporto" (TFR), is required to be deposited by the employer to be paid to the employee on termination.
The median income is the income amount that divides a ... U.S. median gross household income was 15% higher in 2010 (table 3). ... the result is called net or ...