Understand net income: its definition, calculation method, and its critical role in business decisions and tax reporting.

Revenue used in margin calculations is net revenue, which is defined as gross sales less returns. Generally accepted accounting principles require that revenue is recognized only under strict ...

For an hourly employee, wages can include breaks, on-call time, overtime, travel time and training. Gross pay is the starting point for all calculations related to employee compensation and taxes.

Here's the difference between gross and net, especially when it comes to income calculations.