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LSDefine

Simple English definitions for legal terms

deductible

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A quick definition of deductible:

Deductible: A deductible is an amount of money that you have to pay before your insurance starts paying for things. For example, if you have a $1,000 deductible and you get into a car accident that causes $10,000 in damage, you would have to pay $1,000 and your insurance would pay the remaining $9,000. Deductibles can also be used to lower the amount of taxes you have to pay. Certain expenses, like charitable donations or healthcare costs, can be deducted from your taxable income, which means you'll owe less money in taxes.

A more thorough explanation:

Definition: A deductible is an amount of money that must be paid by an individual or organization before an insurance company pays out for claims. It can also refer to expenses that can be subtracted from taxable income to reduce the amount of taxes owed.

When someone has insurance, they may have to pay a certain amount of money out of pocket before the insurance company will pay for any damages or losses. This amount is called a deductible. For example, if someone has a car insurance policy with a $500 deductible and they get into an accident that causes $2,000 in damage, they will have to pay $500 and the insurance company will pay the remaining $1,500.

Some expenses can be deducted from taxable income, which can lower the amount of taxes owed. For example, if someone earns $50,000 in a year and has $5,000 in tax-deductible expenses, they will only have to pay taxes on $45,000 of their income. Tax-deductible expenses can include things like charitable donations, medical expenses, and business expenses.

It's important to note that the rules for tax-deductible expenses can vary depending on the jurisdiction and the type of tax. For example, the rules for deducting business expenses on a federal income tax return may be different from the rules for deducting business expenses on a state income tax return.

dedimus potestatum | deductible business expense

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@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
the more risk you take the higher chance of it backfiring
my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality
safe is always better
All good points
triplethread
11:34
@TheAdoptedOne: amazing
I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.
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