Gross income for an individual—also known as gross pay when it’s on a paycheck—is the individual’s total pay from their employer before taxes or other deductions. This includes income from all sources and is not limited to income received in cash; it also includes property or services received. Gross annual income is the amount of money that a person earns in one year before taxes and includes income from all sources.1
For companies, gross income is interchangeable with gross margin or gross profit. A company’s gross income, found on the income statement, is the revenue from all sources minus the firm’s cost of goods sold (COGS).
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