Explain the difference between gross income and net income

The gross income has been the total income, while net income has been the total profit of the company.

In the business statistics, the gross income has been defined as the total income of the company inclusive of the expenses. While net income can be defined as the income or the profit a company has been made in the given time with the exclusion of the expenses.

Some of the differences between the gross income and net income are as follows:

The gross income has been the total income, while net income has been the total profit of the company.

For more information about the gross income and net income. refer to the link:

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Gross income is the amount of money you earn before taxes and other types of fees are deducted.

Net income is after those taxes and fees are deducted from your paycheck.

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