What does Gross Income mean?

Gross income refers to the total amount of money received by a person or a business before any deductions, taxes or other costs are taken out. For example, if a landlord rents out an apartment, their gross income would be the total amount of rent they receive from the tenants before deducting expenses like mortgage payments or maintenance costs.

Related Terms

Mortgage Lender Queen Anne Style Breach of Covenant Seller's Market Veterans Administration (VA) Use (In a Lease) Quit-Claim Deed Convertible Adjustable-Rate Mortgage Blanket Mortgage Aluminum-Clad Windows Asbestos Buyer Broker Two-Step Mortgage Estimated Increase In Equity Knob-And-Tube Wiring Standard Metropolitan Statistical Area Rate Lock Earnest Money