Gross income is known to be the earnings that people get before all of the expenses are taken into consideration. Net income is the amount of money that a person will get after all of the expenses have been taken into consideration.
There are times when people may earn a lot of money, but because there are so many things that need to be paid for, people do not get enough in order to supply their actual needs. Take note that for gross and net, the deductions that will be removed will be based on the things that an employee has to pay for, such as taxes and other insurance policies.
Answer Anonymously
Copy Link
