Net income, also known as net profit or net earnings, is the amount of money that an individual or business has left over after all expenses and taxes have been paid. It is the difference between an individual's or business's gross income (i.e., total revenue) and their expenses.

Net income is an important financial metric for individuals and businesses, as it represents the amount of money that is available for saving, investing, or distributing to shareholders. Net income is often used as a measure of a company's financial performance and is typically reported on the income statement.

To calculate net income, you need to subtract an individual's or business's expenses from their gross income. Expenses can include things like rent, utilities, salaries, taxes, and other operating costs. Net income can be positive (if gross income is greater than expenses) or negative (if expenses are greater than gross income).

If you are an individual or a business owner, it is important to understand your net income and how it is affected by your expenses and revenue. This can help you to make informed financial decisions and to plan for the future.