Gross income意思

"Gross income" is a financial term that refers to the total income earned before any deductions or expenses are taken out. It is the sum of all the money received from various sources of income, such as salaries, wages, tips, bonuses, interest, dividends, rents, royalties, and capital gains. Gross income is an important concept in taxation, as it is the starting point for calculating taxes.

In the context of personal income tax, gross income is the amount of income that is subject to tax before any deductions for things like taxes, contributions to retirement plans, or other allowable expenses are taken into account. For businesses, gross income is the total revenue earned from sales or services provided, before any expenses such as cost of goods sold, operating expenses, and taxes are subtracted.

It's important to note that gross income is different from "net income," which is the amount of income remaining after all deductions and expenses have been taken out. Net income is often referred to as "profit" or "earnings" and represents the actual amount of money that an individual or business has made after all costs have been paid.