What is Gross annual income?

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What is Gross annual income?

is that how much you make in a year before or after taxes?

2007-05-30 12:54:13 · 3 answers · asked by rider476 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

Total you make in a year before any deductions for taxes or anything else.

2007-05-30 12:56:53 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

"Gross income" refers to total income, before tax is deducted.

"Net income" refers to income after tax is deducted.

see also: http://www.investopedia.com/terms/g/grossincome.asp

2007-05-30 20:00:20 · answer #2 · answered by Christopher s 1 · 0⤊ 0⤋

"Gross" is everything without taxes taken out.

"Net" is the "Gross" less taxes or anything else.

2007-05-30 20:00:28 · answer #3 · answered by cherry-o 3 · 0⤊ 0⤋