[Answer] Why is net income lower than gross income?

Answer: withholdings
Why is net income lower than gross income?

Definition. Net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings.As profit and earnings are used synonymously for income (also depending on UK and US usage) net earnings and net profit are commonly found as synonyms for net income . Often the term income is substituted for net income yet this is not preferred due to …

NetIncome (NI)

Net Income: What Is It? – The Balance

Net income financial definition of net income

Thu Nov 03 2005 13:30:00 GMT-0500 (Eastern Standard Time) ยท 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 …

In the United States income tax system adjusted gross income (AGI) is an individual’s total gross income minus specific deductions. It is used to calculate taxable income which is AGI minus allowances for personal exemptions and itemized deductions.For most individual tax purposes AGI is more relevant than gross income . Gross income is sales price of goods or property minus cost of the …

Net income – Wikipedia

Adjusted gross income – Wikipedia

Net income – Wikipedia

Business and occupation tax – Wikipedia

Income inequality in the United States is the extent to which income is distributed in differing amounts among the American population. It has fluctuated considerably since measurements began around 1915 moving in an arc between peaks in the 1920s and 2000s with a 30-year period of relatively lower inequality between 1950 and 1980.

Affluence refers to an individual’s or household’s economical and financial advantage in comparison to others. It may be assess…

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