MANAGEMENT

Detailed explanation-1: -Gross income includes your wages, dividends, capital gains, business income, retirement distributions as well as other income.

Detailed explanation-2: -Gross income is the amount a company makes before accounting for any expenses – either those like cost of goods sold that are directly allocable to a particular product or fixed expenses like salaries for administrative staff. Essentially, a company’s gross income is equal to its total sales over a set period of time.

Detailed explanation-3: -You simply add up all of your income sources before any tax deductions or taxes. For example, if last year you earned $100, 000 in salary, $1, 000 in interest income, and $12, 000 in rental income, your gross income for the year would be $100, 000 + $1, 000 + $12, 000 = $113, 000.

Detailed explanation-4: -Gross business income is the amount your business earns from selling goods or services before you subtract taxes and other expenses. Your business’s gross income is your revenue minus your cost of goods sold (COGS). You can find your gross income on your business’s income statement.