Monday, May 11, 2009

When I answer a survey question about "household income" should I use my gross or net income and why?

They usually want gross. When people state what they make, it is typically gross because your net can vary depending on the person, family size and how many dependents are claimed.

When I answer a survey question about "household income" should I use my gross or net income and why?
It seems like the two people above know what they're talking about.
Reply:Gross.





Your income is what you earn. Deductions (taxes, insurance, 401k) from your paycheck doesn't mean you never earned the money.





So what your employer pays you every year (plus what a spouse earns) is your household income.
Reply:gross because your net is different based on deductions and taxes, so to get a better feel the surveyor wants your gross

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