To gross up monthly income, use the formula: Gross pay = net pay / (1 – tax rate). For example, a company could offer an employee a net salary and calculate the gross pay based on the tax rate.

You have no added income, so the gross income formula says you report $10,000 as gross income. In the second part of Schedule C, you add up your total deductible business expenses.

Adjusted gross income is your total gross income minus "above the line" deductions like your 401(k) contributions. Learn how to find your adjusted gross income and why it matters.

Net income can also be calculated by subtracting all expenses and deductions from gross income, which is total revenue minus the cost of goods sold (COGS). Either approach results in the same ...

In the Budget 2025, there have been new income tax slabs introduced in the new tax system. Finance Minister Nirmala Sitharaman revealed that individuals with a net taxable income of up to Rs 12 ...