Gross and Net Income

Jennifer works as a realtor selling homes. She earns a monthly income of $4,500. Once income tax, insurance, and other fees are taken out of her gross income, she takes home $3,700. The amount of $3,700 is most commonly referred to as Jennifer's-

• Gross Income

• Net Income

Mrs. Barakat worked 120 hours last month. She earned a total of $7,800. Her paycheck for last month was however $5,850 because her employer withheld $1,950 for taxes and insurance. The $7,800 that Mrs. Barakat earned is best described as-

• Net Income

• Gross Income

Mr. Keen worked 180 hours for his employer last month. He was paid $45 for each hour of work. By multiplying 180 by $45, he determined that he earned a total of $8,100. His paycheck for last month , however, was $5,994 because his employer withheld $2,106 for taxes and other deductions. The $5,994 that Mr. Keen received is best described as-

• Gross Income

• Net Income

Jaida earns $1,500 a month at her job, but her insurance and her taxes are a total of $400. This leaves her with a paycheck of $1,100. The $1,100 is her _____

• Gross Income

• Net Income

The amount of money you get to keep AFTER taxes and insurance is taken out (subtracted) from your income is known as your _____

• Net Income

• Gross Income

• Income

• Expenses

The total amount of money you earn from your job BEFORE taxes and insurance is deducted is known as ____

• Net Income

• Money

• Gross Income

• Property taxes