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Simple English definitions for legal terms

below-the-line

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A quick definition of below-the-line:

Below-the-line refers to deductions that are taken after calculating adjusted gross income but before calculating taxable income. These deductions include expenses such as medical payments and local taxes. This is different from above-the-line deductions which are taken before calculating adjusted gross income.

A more thorough explanation:

Definition: Below-the-line refers to deductions that are taken after calculating adjusted gross income and before calculating taxable income. These deductions are subtracted from your income to reduce the amount of taxes you owe.

Examples: Some examples of below-the-line deductions include medical expenses, local taxes, and charitable contributions. For instance, if you paid $5,000 in medical bills during the year and your adjusted gross income is $50,000, you can deduct the $5,000 from your income to arrive at your taxable income of $45,000. This means you will owe less in taxes.

Explanation: Below-the-line deductions are subtracted from your income after you have calculated your adjusted gross income. This means that they are taken into account after you have already deducted certain expenses such as retirement contributions and health insurance premiums. These deductions can help reduce your taxable income and lower the amount of taxes you owe to the government.

below-market loan | Ben Avon Doctrine

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General chat about the legal profession.
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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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