Net Income

The total revenue generated by a company after deducting all expenses, taxes, and costs associated with doing business.

Net Income refers to the profitability of a business after deducting all expenses, taxes, and other costs from its total revenue. It represents the amount of money the business has earned during a specific period, such as a month, quarter, or year. Net Income is a vital financial metric for small business owners as it indicates the company's overall profitability and ability to generate profits. By monitoring Net Income, business owners can assess their financial health, make informed decisions, and evaluate the effectiveness of their operations and strategies. It is also an essential figure for tax purposes and financial reporting.