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Reid Spears
15 February, 02:40
Why is net income lower than gross income
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Adeline Mcintyre
15 February, 05:56
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Gross income is the income before taxes and deductions
Net income on the other hand is the income after taxes and deductions and credits are factored into gross income. This is the reason why net income is lower than gross income. Gross income = net income + taxes
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