2007-06-12 02:18:22 · 15 answers · asked by M 1 in Business & Finance ➔ Taxes ➔ United States
Yes, gross earnings is earnings before any taxes or any other deductions (medical, retirement, loan repayments, etc). Net earnings is after taxes and other deductions.
2007-06-12 02:25:33 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Gross earnings is the amount you earned before ANY deductions - including taxes.
2007-06-12 02:23:38 · answer #2 · answered by Be me 5 · 0⤊ 0⤋
Yes, gross earnings are your earning before the tax department removes their share!
2007-06-12 02:21:48 · answer #3 · answered by Sybil 2 · 0⤊ 0⤋
If your only earnings will be from that pay stub you will start preparing your tax return based on the total gross wages. From that you subtract a standard deduction and your exemptions your for yourself and and dependents. That will give you your Federal Taxable income. This is a simplified version of how a tax return is calculated.*
2016-05-18 00:44:12 · answer #4 · answered by ? 3 · 0⤊ 0⤋
Gross is the whole monty, the big enchalata, the big dill, whatever. It is the total amount earned and appears in Box 7 on a W-2. If you are referring to business income then it is the total amount collected before any expenses.
2007-06-12 03:27:28 · answer #5 · answered by acmeraven 7 · 0⤊ 0⤋
Yes, gross is before taxes and before any other deductions.
2007-06-12 06:26:17 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
yes u are correct gross earnings is before they kill you with taxes and such Net earnings is what u take home..If there is anything left....Good Luck
2007-06-12 02:27:14 · answer #7 · answered by rpr1940 2 · 0⤊ 0⤋
Yes..the amount you earned before taxes are taken out.....net is the amount of money you see on your check.
2007-06-12 02:27:29 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes
2007-06-12 02:21:03 · answer #9 · answered by deathbear3 3 · 0⤊ 0⤋
Gross earnings IS the figure that you see BEFORE ANY deductions are made !! In other words --- a figure that is GROSSLY OVERSTATED !!!
Net earnings is the figure that you see AFTER ALL deductions are made !! In other words --- the figure that has all the HOLES in it !!!
2007-06-12 02:29:27 · answer #10 · answered by Anonymous · 2⤊ 0⤋