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Gross income is the total amount of money you earn before any deductions are taken out.
In Depth
This includes your salary, wages, tips, bonuses, and any other money you receive from employment or other sources. It's the starting point for calculating your taxes and determining how much you actually take home. Understanding your gross income is important for budgeting and financial planning, as it represents your total earning potential before expenses.
Example
If your paycheck shows earnings of $2,000 before taxes and other deductions, your gross income for that period is $2,000.