An income statement lists a company's revenues, expenses and net income, or profit. Net income equals total revenue minus total expenses. A condensed income statement reports the same overall ...

Tax season is nearly upon us. For some, it may be your first time filing taxes. And even for those who have filed for years, taxes are not always the easiest task to tackle. Here's what you should ...

Gross pay is the amount of money you earn before any payroll deductions are taken out of your paycheck. In contrast, your net pay is the amount of money you take home after deductions like taxes, ...

Net income is the total amount of income left after expenses and deductions are taken out. You can find a company's net income on its income statement to assess the health of a business. Net income is ...

The balance sheet provides a look at a business at a snapshot in time, often at the end of a quarter or year. In some cases, the accounts on the balance sheet -- assets, liabilities, and equity -- can ...

Understanding the difference between gross pay and net pay is crucial for both employees and employers. Gross pay is the ...

Subtract standard deduction and pre-tax contributions to determine taxable income. Use tax tables to estimate federal tax; add state, Social Security, and Medicare taxes. After taxes, subtract ...

Your take home pay is your net income after taxes and other deductions occur. If salaried, you most likely receive paid a fixed wage each pay period. If hourly, you're paid based on hours worked; ...

Dana Miranda is a Certified Educator in Personal Finance, creator of the Healthy Rich newsletter and author of You Don't Need a Budget: Stop Worrying about Debt, Spend without Shame, and Manage Money ...