What do you call the income remaining after all taxes and deductions have been taken out?

The income remaining after all taxes and deductions have been taken out is known as net income. This figure represents the actual amount of money that an individual or entity has available for spending or saving after fulfilling their obligatory payments. It is a crucial measure for evaluating financial health, as it indicates what can be used for personal expenses, investments, and savings.

In contrast, gross income refers to the total earnings before any deductions are accounted for, while taxable income is the portion of income that is subject to taxation. Discretionary income, on the other hand, is the amount of income left over after necessary expenses, such as bills and groceries, are accounted for, and it may be considered as a subset of net income depending on the individual's spending habits.