gross income

Meanings

• noun

  The total income earned before deductions such as taxes and expenses.

  - "His gross income before taxes was $75,000."
  - "To calculate your net income, you need to subtract your deductions from your gross income."

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Variants

List of all variants of gross income that leads to same result
income , incomes , income account , income accounts , income statement , income bond , income bonds , income tax , income taxes , national income , national incomes , negative income tax , negative income taxes , discretionary income , disposable income , low-income housing , (income) tax return , income tax return , tax return

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'gross' comes from the Old French word 'gros,' meaning large or heavy. In financial contexts, it refers to the total amount before any deductions or adjustments.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that the term 'gross' comes from the Old French word 'gros,' meaning large or heavy?

2. The concept of gross income has been used in finance and taxation since ancient civilizations, such as the Romans and the Greeks.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Net Income: The amount of income remaining after taxes, expenses, and other deductions have been subtracted from the gross income.

2. Disposable Income: The amount of income that is available for spending and saving after taxes and other mandatory deductions have been withheld.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Gross income is a significant concept in personal finance and taxation. It is used to determine an individual's or a business's total earning potential before any deductions or expenses.

How to Memorize "gross income"

1. visualize
   

   - Imagine a large pile of money representing your gross income before any deductions.

2. associate
   

   - Associate the term 'gross' with 'large' or 'heavy' to remember its meaning.

3. mnemonics
   

   - Use the mnemonic 'Gross = Gathering Real Sales Success' to remember the meaning of the term.

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