Accounting Dictionary

Net

After.

If someone’s income is $40,000 net of taxes that means it is $40,000 after taxes have been deducted. If a business has net assets of $50,000, that means they have $50,000 after depreciation, the allowance for doubtful accounts, and other contra accounts have been subtracted. If they have a net loss of $5000, it means the loss after all the expenses have been deducted.

Sign Up to Learn More!

Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!

Scroll to Top