noun the total amount of money made in a specific period of time
In finance, gross income refers to the total income earned before any deductions or expenses are taken into account.
In economics, gross income is used to calculate GDP and other macroeconomic indicators.
In accounting, gross income is an important figure used in financial statements to assess the profitability of a company.
In taxation, gross income is a key factor in determining an individual's or company's tax liability.
In business management, gross income is used to evaluate the overall financial health of a business.
In personal finance, gross income is the starting point for budgeting and financial planning.
Writers may use gross income to calculate their earnings from book sales, royalties, and other writing projects before deducting expenses.
Psychologists may use gross income to determine their total income from client sessions, consultations, and other services before accounting for expenses or taxes.
Real estate agents may use gross income to evaluate their total earnings from property sales and commissions before subtracting expenses such as marketing costs or office fees.
Entrepreneurs may use gross income to assess their overall revenue from sales of products or services before factoring in operational costs, production expenses, and taxes.
Consultants may use gross income to calculate their total income from client projects, advisory services, and other consulting work before considering deductions for travel expenses, professional fees, or other costs.