Net Income vs. Gross income

Front

Gross income is...

Back

the total amount an employee earns before deductions are applied.

Front

What is net income?

Back

the amount an employee is paid after deductions and taxes.

Front

If Tyrone works 20 hours a week at $9 an hour, what is his gross income?

Back

$180

Tags

CCSS.7.EE.B.3

Front

If Hank has an hourly rate of $13 and works 22 hours, what is his gross income before deductions?

Back

$286

Front

What are deductions?

Back

Amounts taken out of an employee's gross income for taxes, insurance, etc.

Tags

CCSS.7.RP.A.3

Front

If Hank's deductions are $85, what is his net income if his gross income is $286?

Back

$201

Tags

CCSS.7.NS.A.1C

Front

What is the difference between gross income and net income?

Back

Gross income is before deductions; net income is after deductions.

Front

If an employee earns $300 gross income and has $50 in deductions, what is their net income?

Back

$250

Tags

CCSS.7.EE.B.3

Front

What does it mean if an employee's net income is less than their gross income?

Back

It means deductions have been taken out.

Front

If an employee earns $11 per hour and works 26 hours, what is their gross income?

Back

$286