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Net income is the amount of revenue remaining after all expenses, taxes, and other costs are paid. In comparison, gross income is the amount of revenue before any costs are paid.

Net income is used in relation to both an individual’s earnings and a business’s earnings.��

As an individual, your income is the amount of money you’re paid for work you do, such as from an employee position or from projects you complete as a freelancer. It can also be money you earn in other ways, such as with renting an apartment or investing in the stock market. Your gross income is the total amount you earn before taxes, expenses, and other costs are paid. Your net income is the amount you receive after paying those costs. If you work an employee position, for example, your net income is the amount of money you receive each pay period, after taxes, retirement savings, health insurance, and other costs are paid.

A business’s income usually comes from the sale of goods or services. As with individuals, a business’s gross income is the total amount earned before any costs are paid. Its net income is the revenue remaining after the costs for materials and labor, taxes, and other expenses are paid. For example, a bookstore would earn income from the sale of books and other items. Its costs would include the books it sells, employee wages, rent for the store space, bags to put sold books in, and so on. Its net income is its gross income minus all its costs.

Example: Sandy’s net income was less than they expected because their health insurance cost was so high.

The first records of the term net income come from around the 1760s. It combines the terms net, meaning “remaining after deductions,” and income, meaning “revenue received for goods and services.”

What are some synonyms for net income?

• take-home pay
• net earnings
• net wages
• net pay

What are some words that share a root or word element with net income?��

• net profit
• net present value
• gross income
• income distribution
• income account

What are some words that often get used in discussing net income?

• business
• expenses
• paycheck
• sales
• taxes

What are some words net income may be commonly confused with?

• gross income

Net income is almost always used in reference to an individual’s or business’s earnings after expenses, taxes, and other costs are deducted.

Since its IPO in 1997, Amazon has made $30 billion in cumulative net income.

Apple has made $36 billion in net income in its last 2 quarters.

— Charlie Bilello (@charliebilello)

African Development Bank's net income continues to grow solidly. We moved from $492.7 million in 2015, when I took over, to $556.6 million in 2016 and $855 million in 2017, an increase of almost 54% over 2016. And 73% increase over where we were 2015. Our future looks brighter!

— Akinwumi A. Adesina (@akin_adesina)

– Create a cash reserve
– Save 20% net income every month
– Reduce/eliminate debt on liabilities
– Study financial literacy
– Use spare time to learn new skills
– Learn to say “NO” & not feel guilty
– Do more of what makes you happy
– Intake less sugar
– Sleep more

— Reece Wabara (@ReeceWabara)

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Is net income used correctly in the following sentence?

“Before Phil took the new job, he calculated what his net income before taxes would be.”