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Simple English definitions for legal terms

below-the-line

Read a random definition: de bono et malo

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.

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General

General chat about the legal profession.
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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.
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