The statement "net income is the amount you get paid before taxes" is false. Net income is actually the amount left after all expenses, including taxes, have been deducted from total revenue or gross income. For individuals, net income (also called net pay) is what they receive after taxes and other deductions are taken out of their gross income. For businesses, net income is the profit remaining after all costs, expenses, interest, and taxes are subtracted from total revenue. Therefore, net income is an after-tax figure, not before taxes.