Question

What is gross income? Gross income is money earned before taxes are taken from a paycheck. Gross income is money earned after taxes are taken from a paycheck. Gross income is money paid to fund firefighters and police officers. Gross income is money paid for taxes.

Answer 1

Gross income is money earned before taxes are taken from a paycheck

Explanation:

Gross income is money earned before taxes are taken from a paycheck

Gross income refers to the total amount of money earned by an individual over a specific period of time usually a year before any deductions such as taxes is made.

Gross income includes income earned from all sources. It can also be called Gross pay on a paycheck.

For example, if an individual earns $100 in a year and is expected to pay a tax of 2%. The gross income is $100 before tax is deducted