Net vs. Gross (Income, Pay/Salary, etc.) in One Minute: Definition/Difference, Explanation, Examples

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Way too many people think they understand the difference between net and gross (so the difference between net income and gross income, the difference between net pay/salary and gross pay/salary, etc.) but unfortunately, they usually don’t understand the concepts properly.

Through this video, I did my best to provide an easy-to-understand definition and especially explanation of net and gross (income, pay/salary, you name it). Also, through carefully-chosen examples, I hope I’ve managed to get the message across in a way that leaves little room for interpretation.

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26 COMMENTS

  1. When I was struggling to know what gross and net income was, you gave me the simple answer, thank you so much!

  2. If I owe federal taxes but had a refund on state taxes how would I calculate net income? Do I subtract federal taxes from my gross but then add the refund on to of my net? Thanks!

  3. Omg- I didnt think i would understand what net and gross income was and i thought it was REALLLY complicated to work out but- Turns out watching this video its not hard at all, it TOTALLLYY makes so much sense! Thanks for explaining it! 😀

  4. 01:22 What a straight forward video keep it up 👍🏽👍🏽

    No origin story about where the terms Gross and Net come from

  5. Thank you for making the video, it’s just really hard for me to learn, it’s just a little too fast, next time just slow it down a little, but all and all it was a great video

  6. Nope, you got it wrong, bruh. Gross Income is a corporate profit, it is the "EXCESS" amount you earn from your compensation. That's taxable. Go read Title 26 U.S. Code Section 83. Many overlook this Statute and the IRS Agents are afraid to address it

  7. Thank you for explaining so eloquently in such a succinct manner. sir I have a question. Why people use the term NET-NET (Like two times while they speak). can you help me understand what is NET-NET

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