gross income

2 antonyms for gross income — opposites grouped by meaning.

Noun — The total amount a person earns before tax, pension contributions and any other deductions are taken out.

Synonyms by Meaning

1. noun

The total amount a person earns before tax, pension contributions and any other deductions are taken out.

“Lenders usually look at your annual gross income when working out how much you can borrow.”

Opposites

net income take-home pay

2. noun accounting

For a business, total revenue from sales minus the direct cost of the goods sold, before operating expenses and tax.

“Gross income fell because raw material prices rose faster than prices at the till.”

gross profit

Antonyms

net income take-home pay

How to use gross income

The word patterns that sound natural to a native speaker.

annual gross income gross income before tax adjusted gross income gross monthly income

Standard in finance, tax and lending. Payslips often label the same figure 'gross pay'.

Frequently asked questions

What is the difference between gross income and net income?

Gross income is everything you earn before deductions. Net income is what actually reaches your bank account after income tax, national insurance or social security, pension contributions and any other deductions. Landlords and lenders normally ask for gross; budgeting is best done on net.

What is adjusted gross income?

It is a United States tax term: gross income minus certain permitted deductions, such as some retirement contributions and student loan interest. It sits between gross and taxable income and determines eligibility for many tax reliefs.

Does gross income include bonuses and overtime?

Yes. Gross income covers all earnings before deductions, including overtime, bonuses, commission, tips and, in most definitions, other income such as rent or interest received.

Nearby words

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