Question by  Erin91 (54)

How do you calculate the net income?


Answer by  fesdre (655)

To get your net income you need to use the following formula: gross profit - total expenses = net profit. That is the best way to get your net income.


Answer by  Gus28 (683)

Net income is what is left after all costs are removed from gross income. Deductions of state and federal taxes and Social Security are always costs. Specific costs vary otherwise.

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