When you fill out forms for your state taxes, it is important to understand the difference between your net income and adjusted gross income. Here's how.

Your after-tax income would be $7,500 - ($7500 x 0.25), or $7,500 - $1,875, which is $5,250 in after-tax income. Related investing topics 8 Best Strategies for Retirement Income ...

The final version of the bill will allow workers to deduct up to $25,000 in tips and up to $12,500 ($25,000 in the case of a ...

For both businesses and individuals, net income refers to income after all expenses, taxes and other deductions are subtracted from the gross income. As such, gross income might be much higher ...

Net income is the last line item on an income statement and accounts for all costs and expenses, including taxes. Profit before tax will always be higher than net income, as it doesn’t deduct taxes.

When you fill out forms for your state taxes, it is important to understand the difference between your net income and adjusted gross income. Here's how.