gross annual income

Popular Terms
Total amount of income earned annually. Gross annual income represents the amount of money a person earns in one year from all sources before taxes. When preparing an income tax return, the gross annual income figure is the base figure with which to start.

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Knowing your gross annual income will help you to figure out how much taxes you will have to pay or get returned.
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My dad had a really great business and when he came home he was telling us that he was going to figure out his gross annual income before dinner.
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When I applied for the loan the first time it came back as denied, so my loan officer went over details with me and explained that I should have listed my salary before taxes and claimed income from my rental properties, because they do go by your gross annual income.
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