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What is Gross Income?
Gross income refers to the total amount of income earned before any deductions or taxes have been taken out. It is often used to calculate taxes and is the starting point for determining an individual's or a business's net income (gross income minus deductions and taxes). For an individual, gross income can come from various sources such as wages, salaries, bonuses, commissions, and investment income. For a business, gross income is the total revenue generated by the company before any expenses are subtracted.
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