What does gross annual income mean Meaning and Definition
What does gross annual income mean
Pronunciation
/ˈdʒɔs ˈænjuəl ˈɪnjəm ˈmɪˌniːn/
Part of Speech
Noun phrase
Definition
Gross annual income refers to the total amount of money earned by an individual or organization in a year, before taxes, deductions, and other financial adjustments are made.
Etymology
The term “gross” means total or entire, while “annual” refers to something that occurs or happens once a year.
Usage Notes
Gross annual income is typically used in financial and economic contexts, such as calculating taxes, determining financial aid, or evaluating employee compensation.
Cultural References
In popular culture, gross annual income is often mentioned in TV shows and movies to illustrate income inequality, financial stability, or career success.
Idiomatic Expressions or Phrases
- “Take-home pay” refers to the net income an individual receives after taxes, deductions, and other financial adjustments are made.
Related Words or Phrases
- Net income
- Gross profit
- Annual salary
Collocations
- Gross annual income is often followed by words like “revenue,” “profit,” or “salary.”
Frequency of Use
Gross annual income is a common term in financial and economic contexts, but its frequency of use may vary depending on the specific context or industry.
Common Misspellings
- Grass annual income
- Grow annual income