Annual income is the total value of income earned during a fiscal year. Gross annual income refers to all earnings before any deductions are Annual income refers to the total amount of money earned by an individual or entity over the course of a year, typically before taxes and deductions. Annual income is a key factor in financial planning and management. It is the amount of money that an individual or family receives in one financial year before any deductions, such as taxes, comprising salaries, business profits, rental income, or bonuses from various other sources. Learn what annual income is, how to calculate it and the difference between gross and net income. Find out the importance of annual income for individuals and businesses and see examples of annual income calculation.
