meaning of gross returns?

Answer 1

Gross returns are all of the money a business makes before they subtract the costs of doing their business (such as salaries, rent, utility bills, wholesale cost of products to be sold, etc.). After the business subtracts their costs what is left is the net return or profit.

For example:
A bakery sells $300.00 worth of cakes. That is the gross return. The cakes cost $150.00 to buy the ingedients, $75.00 to pay the baker, $25.00 the rent for the shop, and the electricity to power the oven.

$300.00 in the till at 6pm (Gross Return)
- $150.00 ingredients
- $ 75.00 baker's salary
- $ 25.00 rent/power/etc.
----------------
$ 50.00 Net Return (profit)

I hope that helps

Answer 2

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RE:
meaning of gross returns?

Answer 3

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This means the taxable wages you report on your return or Box #1 of your W-2, as TRO pointed out. This may be different than gross wages because of non-taxable/tax-deferred withholdings such as a Sec 125 plan or a 401(k). If you have such withholdings, you might see your social security wages are higher than those in Box #1 because those withholdings are not exempt from FICA (ssocial security/medicare) tax.