Meaning & use
annual gross income
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Meaning
noununcountablefinancebusiness
The total amount of money a person or business earns in one year before taxes and other deductions are taken away.
Grammar: Usually uncountable: her annual gross income; a figure, not a count.
Patterns
- an annual gross income of something
- annual gross income from something
Her annual gross income was higher than last year, though her take-home pay barely changed.
The bank asked for proof of your annual gross income before approving the loan.
The household reported an annual gross income of sixty thousand dollars.
Common combinations
- report your annual gross income
- You must report your annual gross income on the form.
- annual gross income of
- An annual gross income of fifty thousand dollars qualifies.
- calculate annual gross income
- Calculate annual gross income by adding all earnings.
- estimate annual gross income
- Freelancers often estimate annual gross income.
- proof of annual gross income
- The landlord asked for proof of annual gross income.
Synonyms and how they differ
- gross annual earnings
- This is nearly identical, but earnings usually refers to pay from work, while income can include interest and rent.
- pre-tax income
- Pre-tax income stresses that taxes have not been taken out, but it may not cover a full year.
- total yearly income
- This is a plainer wording and does not make clear whether deductions are included.
Opposites
Word family
Commonly confused: annual gross income or net income?
annual gross income vs net income
Net income is what remains after taxes and deductions. Gross income is the full amount before they are removed.
Practice
Your annual gross income is the money you earn ___.
Choose one answer.
Gross means the total before anything is subtracted. After taxes describes net income, and the other options narrow it wrongly.
Make it your own
Write a sentence using “annual gross income”, then check it and compare it with the examples above.