What is the difference ?

What is the difference between net income and gross income?

Answer:
Gross income is the number of hours worked times the rate of pay. For example: 40 hours * $5.35 = $214.00

Net income is the amount of your income you actually get to bring home after taxes, insurance and any other deductions.
Gross income is the money you make before taxes, net income is what you make after taxes [ after your deductions].
Net Sales less Cost of Sales = Gross Income
Gross Incomess less Operating Expenses = Net Taxable Income
Net Taxable income less Tax = Net Income
gross is before any taxes, ins , etc. is taken out of your check..and net is that really low # that you see when you get your check and you think... hey where did all my money go!
yep, what they said
Gross income is the income before deducting any tax that are payable while net income is the income after deducting all the taxes .

The answers post by the user, for information only, BAnswer.com does not guarantee the right.

Other Questions and Answers:
  • Why can people not remember passwords?
  • I have no address and no phone number. Can I be sued for credit card debt if I cannot be found?
  • Time for a new credit card?
  • Does anyone have reliable information about debt consolidation?
  • Looking for referrals from people who have good experience from credit repair company?
  • i am in the proces of reestablishing my credit. I need a personal loan to get an apt. any ideas where to look?
  • Mortgage w/bad credit?
  • I dont have any credit, i tried to apply for a credit card to help start my credit but always get rejected.?