Community and Government

Learn About Net Income: Definition, How to Calculate Net Income, and the Difference Between Net Income and Gross Income

Written by MasterClass

Last updated: Oct 12, 2022 • 3 min read

Net Income is one of the simplest concepts in economics and one that most people have a basic understanding of. That being said, understanding net income and being able to differentiate it from other similar concepts is very important in order to analyze your own finances and track your financial progress.