As a financial expert with extensive experience in asset management and financial analysis, I can provide a detailed explanation on the topic of proceeds and expenses.

Proceeds, in a financial context, refer to the total amount of money received from a transaction or sale. This is often referred to as the "gross proceeds." Gross proceeds are the initial amount before any deductions for costs, expenses, or taxes.

Expenses, on the other hand, are the costs incurred in the process of generating revenue. These can include costs associated with the sale of an asset, such as brokerage fees, legal fees, and any other costs that are necessary to facilitate the transaction.

When discussing the sequence of proceeds and expenses, it is important to understand that expenses are typically deducted from the gross proceeds to arrive at the net proceeds. Net proceeds are the final amount of money that remains after all expenses have been accounted for. This is the amount that the seller actually keeps after covering all the costs associated with the transaction.

The distinction between gross and net proceeds is crucial, especially when it comes to taxation. Capital gains taxes, for example, are generally calculated based on the net proceeds of a sale, not the gross proceeds. This means that the tax liability is determined by the profit made from the sale, which is the net proceeds after all expenses have been deducted.

In summary, while gross proceeds represent the total amount received from a sale, net proceeds are what remains after all expenses have been deducted. It is the net proceeds that are typically used for calculating taxes and other financial obligations associated with the sale of an asset.

Now, let's move on to the translation of the explanation into Chinese.

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Net proceeds is the amount received by the seller after all costs and expenses are deducted from the gross proceeds arising from the sale of an asset. ... Capital gains taxes are generally paid only on the net proceeds of a sale, rather than the gross proceeds.read more >>