Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

all-events test

Read a random definition: parricide

A quick definition of all-events test:

All-Events Test: The all-events test is a rule that says a taxpayer who uses the accrual method of accounting can only report income or expenses when all the events that determine the amount and timing of the income or expense have happened. This means that the taxpayer cannot report income or expenses until they have earned the income or incurred the expense.

A more thorough explanation:

Definition: The all-events test is a rule in taxation that requires an accrual-method taxpayer to wait until all events that determine their right to receive income or incur expenses have occurred before reporting them on their tax return.

Example: Let's say a company provides services to a client in December but doesn't receive payment until January. Under the all-events test, the company cannot report the income until January when they have received payment, even though the services were provided in December.

Explanation: The all-events test ensures that income and expenses are reported in the correct tax year. In the example, the company cannot report the income until they have received payment because that is the event that fixes their right to receive the income. If they were allowed to report the income in December, it would be considered income for that tax year even though they had not yet received payment.

all-estate clause | alleviare

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.