Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

Learn how the Personal Income and Outlays report from the BEA offers insights into consumer spending, income, and economic trends—critical for smart financial decisions.

Gross income is the total of all income you receive before taxes. It’s also called pre-tax income. Net income is your income after taxes (or take-home pay). Your gross income figure will always be ...