A person s income after all tax and other costs have been paid. What is net income ni.
Also called income earnings or net profit.
Net income definition. It is equal to your total income minus tax payments and pretax contributions. Improve your vocabulary with english vocabulary in use from cambridge. Want to learn more.
In other words net income is the profits of a company. Next year her net income will increase to almost 19 000 thanks to the increases in tax credits. Net income is the money that you actually have available to spend.
Net income definition the excess of revenues and gains of a business over expenses and losses during a given period of time. Net income is the amount of money a corporation has earned after subtracting all of the expenses of producing its goods or services from the income or revenue it has realized from sales of those goods or services. In business and accounting net income also total comprehensive income net earnings net profit bottom line sales profit or credit sales is an entity s income minus cost of goods sold expenses depreciation and amortization interest and taxes for an accounting period.
If total revenues are less than total expenses. This is the income that is left over after all the expenses have been paid. Common sources of income include a weekly or monthly paycheck social security payments royalties and investment income.
Refers to a company s financial position when total revenues exceed total expenses. Net income ni also called net earnings is calculated as sales minus cost of goods sold selling general and administrative expenses operating expenses depreciation.