Eli5: why when asked for income info. are you asked for gross-income instead of net-income?

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Why not net income when you are certainly taking home less than you earned after taxes that are mandatory? Then when you include health insurance it’s much less.

Edit:Typo

In: Economics

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Anonymous 0 Comments

I’m not sure what income info you’re referring too, but it’s probably because taxes are subjective enough that they confuse the reporting. Deductions, credits, type of income, and previous losses are all important factors in how much tax you pay in a given year, so looking at net income doesn’t give as clear a picture as gross will

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