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To change gross income, someone would need to save more per month. reduce deductions. earn more money. increase withholdings.

Ask by Salazar Carrillo. in the United States
Feb 22,2025

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Answer

To increase gross income, earn more money.

Solution

Gross income refers to the total income earned before any deductions, taxes, or withholdings are applied. Therefore, to change (increase) your gross income, you would need to earn more money. Saving more, reducing deductions, or increasing withholdings impact your net income (what you actually take home) rather than your gross income.

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Beyond the Answer

An intriguing aspect of gross income is how it has transformed over the decades, particularly due to shifts in the job market and economic conditions. In the past, many relied heavily on one employer for their income, but now, gig economies and freelance opportunities have sprouted, allowing individuals to diversify their income streams and significantly influence their gross income. When it comes to changing your gross income, it’s crucial to avoid the common pitfall of focusing solely on expenses. While saving is important, boosting your earning potential through skill development or side gigs can lead to greater income changes. Typically, people overlook the potential of negotiating salary or seeking promotions, which can make a world of difference in achieving that financial goal!

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