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LSDefine

Simple English definitions for legal terms

AOGI

Read a random definition: homagio respectuando

A quick definition of AOGI:

Income is the money you earn from working, owning a business, investing, or receiving gifts. Adjusted ordinary gross income (AOGI) is a specific type of income that takes into account certain expenses and capital gains. Other types of income include gross income (total income before deductions), net income (total income minus deductions), and unearned income (income from investments rather than labor). Taxable income is the amount of income that is subject to taxes, and there are various types of income that may be exempt from taxation.

A more thorough explanation:

Definition: AOGI stands for adjusted ordinary gross income. It refers to a corporation's gross income minus capital gains and certain expenses. The IRS uses this calculation to determine whether a corporation is a personal holding company. If 60% or more of a corporation's AOGI consists of certain passive investment income, the company has met the test for personal-holding-company classification.

Example: Let's say a corporation has a gross income of $1,000,000. After deducting capital gains and certain expenses, the AOGI is calculated to be $800,000. If more than 60% of this AOGI comes from passive investment income, the corporation will be classified as a personal holding company.

Explanation: This definition explains what AOGI means and how it is calculated. The example illustrates how a corporation's AOGI is calculated and how it can affect the company's classification. This definition is written in simple language that a high school student can understand.

AOD | AOUSC

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shaquilleoatmeal
17:08
If one of yall can guess what I ended up gettin at sg about an hour ago I’ll Venmo the cost of the meal😂
if when i called gtown they told me "you will 100% get a decision at the end of this week." and i DO not get a decision today. how badly am i legally allowed to crash out. like i have a feeling i ain't getting anything today 😭
1a2b3c4d26z
17:09
Crash out really hard
shaquilleoatmeal
17:09
https://imgur.com/a/rRr0oeT
1a2b3c4d26z
17:09
evol style
1a2b3c4d26z
17:09
Jk dont do that
shaquilleoatmeal
17:09
Use that bowl size to guess, I’ll give you a hit, protein fuckin packed
1a2b3c4d26z
17:09
which garmin do you have?
1a2b3c4d26z
17:10
If that pic is of you
Kendrick album so good, I wasn't even focused on admissions today
oh i was just lisenting to him on the car ride hnome
awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
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