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What is net income?

Is that the income after taxes or before? I am filling out a budget work sheet and it's asking for our weekly net income.

Answer Question

Asked by olgabillman07 at 1:26 PM on Apr. 28, 2010 in Money & Work

Level 3 (26 Credits)
Answers (5)
  • Before taxes.

    Answer by TheDiva320 at 1:27 PM on Apr. 28, 2010

  • yep before taxes

    Answer by luvmygrlz at 1:29 PM on Apr. 28, 2010

  • After taxes. Gross income is income before taking out taxes.

    Answer by andrea96 at 3:30 PM on Apr. 28, 2010

  • Andrea is right. You can think of it literally like a net. Net income is what you "catch" (with a "net") after taxes are taken out. It's basically what you take home pay is.

    Gross income is before they take anything out.

    Answer by Anonymous at 4:10 PM on Apr. 28, 2010

  • Net income is what you take in, less all of your taxes and deductions.

    Answer by rkoloms at 5:08 PM on Apr. 28, 2010

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