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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.
Measom mentions that annual gross income is a person's yearly salary before deductions are made. Avoid using the Net Pay portion of the paycheck because this includes deductions from taxes and medical insurance. How often a person gets paid and the amount determines annual gross income. One example is a $1,200 weekly pay being multiplied by 52 to get an annual gross income of $62,400.