What is the definition of gross income?

The definition of gross income refers to the total income earned by an individual or entity before any deductions or taxes are taken out. This includes all sources of income such as wages, salaries, bonuses, and any other earnings. It is a crucial figure because it serves as the starting point for determining net income, which is what actually ends up in a person's bank account after deductions.

The other options focus on different aspects of income. For instance, income after all taxes and deductions describes net income, which is calculated after all relevant deductions have been made. Income received from investments only zeroes in on a specific category of income, rather than encompassing all forms of gross income. Finally, income that is fully taxed highlights a condition of income but does not define gross income itself. Thus, the best choice that captures the entirety of what gross income is would be the total income from wages before any deductions.