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household income. Total income from all people living in a particular household. Income refers not only to the salaries and benefits received but also to receipts from any personal business, investments, dividends and other income. Furthermore, household members do not need to be related to be part of a household.
Total amount of income earned annually. Gross annual income represents the amount of money a person earns in one year from all sources before taxes.When preparing an income tax return, the gross annual income figure is the base figure with which to start.otal amount of income earned annually. Gross annual income represents the amount of money a person earns in one year from all sources before taxes.