For households and individuals, gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income, defined as the gross income minus taxes and other deductions (e.g., mandatory pension contributions).
For a firm, 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, taxation, and interest payments. This is different from operating profit (earnings before interest and taxes).[1] Gross margin is often used interchangeably with gross profit, but the terms are different. When speaking about a monetary amount, it is technically correct to use the term gross profit; when referring to a percentage or ratio, it is correct to use gross margin. In other words, gross margin is a percentage value, while gross profit is a monetary value.
^"gross". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)[verification needed]
For households and individuals, grossincome is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings, before...
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country...
In the United States income tax system, adjusted grossincome (AGI) is an individual's total grossincome minus specific deductions. It is used to calculate...
from grossincome, which only deducts the cost of goods sold from revenue. For households and individuals, net income refers to the (gross) income minus...
national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national...
OECD's "median disposable income per person" metric; disposable income deducts from grossincome the value of taxes on income and wealth paid and of contributions...
total income. For a firm, grossincome can be defined as sum of all revenue minus the cost of goods sold. Net income nets out expenses: net income equals...
income taxed in that jurisdiction. Taxable income for a company or business may not be the same as its book income. Grossincome includes all income earned...
Effective grossincome is the relationship or ratio between the sale price of the value of a property[clarification needed] and its effective gross rental...
OECD's "median disposable income per person" metric; disposable income deducts from grossincome the value of taxes on income and wealth paid and of contributions...
of an individual's income available for spending after the essentials have been taken care of: Discretionary income = grossincome – taxes – all compelled...
Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year...
Grossincome generally includes all income earned or received from whatever source with some exceptions. States are prohibited from taxing income from...
The Gross Domestic Income (GDI) is the total income received by all sectors of an economy within a state. It includes the sum of all wages, profits, and...
household incomes is of interest, especially for those considering migration. The latest release shows that the median gross household income in 2013–2014...
Modified gross national income (also Modified GNI or GNI*) is a metric used by the Central Statistics Office (Ireland) to measure the Irish economy rather...
North Sea Norwegian Sea Strait of Gibraltar Disparities between gross-to-net income ratios, across countries, result from the differences in their national...
income. In James v. United States (1961), the Supreme Court held that an embezzler was required to include his ill-gotten gains in his "grossincome"...
do not increase Adjusted GrossIncome. This differs from a traditional IRA, where all withdrawals are taxed as ordinary income, and a penalty applies for...
both reduce taxable income, while credits reduce tax. Above and below the line refers to items above or below adjusted grossincome, which is item 37 on...
obligation is not deductible (from own grossincome) by the borrower.: 111 Repayment of the loan is not grossincome to the lender.: 111 In effect, the...
nonresidents are generally subject to income tax on the gross amount of income of most types plus the net business income earned within the jurisdiction. Expenses...
municipalities, church, and the Social Insurance Institution, Kela. The gross earned income of an employee is subject to the three following, proportional social...
employment or a side job. Passive income, as an acquired income, is taxable. Examples of passive income include rental income and business activities in which...
definitions of income (e.g. gross earnings vs original income vs grossincome vs net income vs post tax income). The Survey of Personal Incomes (SPI) is a...
Circular flow of income Disposable household and per capita income Economy monetization GDP density Gross regional domestic product Gross regional product...
taxable person. 1. Persons on grossincome up to £16,000 2. Persons on grossincome £16,000 to £25,000 3. Persons on grossincome between £25,001 and £35,000...
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