Gross and Net Income 5.10. B

What is gross income?

• Money you receive after all deductions.

• Money you earn before any taxes or deductions are taken out.

• The amount of money your employer pays for your benefits.

• The total amount of money you spend in a week.

What is net income?

Are you enjoying the video lesson?

• Yes

• No

If someone works 40 hours a week at $10 per hour, what is their gross income for that week?

• $300

• $320

• $400

• $420

Which of the following is a common deduction taken from gross income?

• Rent payments

• Utility bills

• Income tax

• Groceries