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LSDefine

Simple English definitions for legal terms

exempt income

Read a random definition: community-notification law

A quick definition of exempt income:

Exempt income is money that you don't have to pay taxes on. This can include things like gifts, certain types of investments, and some types of income earned by non-profit organizations. It's important to know what income is exempt so you don't accidentally pay more taxes than you need to.

A more thorough explanation:

Exempt income refers to money or other forms of payment that are not subject to income tax. This type of income is not included in the calculation of taxable income. Examples of exempt income include:

For instance, if someone receives a gift from a family member, that gift is not considered taxable income and does not need to be reported on their tax return. Similarly, if someone receives Social Security benefits, only a portion of those benefits may be taxable, depending on their total income.

exempt | exemption clause

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KnowledgeableRitzyWasp
22:31
yeah there are so many good cuisines in ithaca
renard99
22:31
@lilypadfrog: that’s a pity I’da be liking them all
texaslawhopefully
22:31
Only food I’m going to miss for sure if I leave Texas is texmex
Eggan
22:31
waspy hasnt had thai food in ithaca yet. ithaca thai is so good
KnowledgeableRitzyWasp
22:32
^^^^ truuuuuu
Eggan
22:32
there are two major thai places and they have very similar names bc a divorced husband and wife own them lol
Eggan
22:32
personally i think taste of thai is better than taste of thai express but thats just me
KnowledgeableRitzyWasp
22:32
i had pho tho and it was really good and huge portions
texaslawhopefully
22:32
Glad they have good Thai food, I love Thai food! Can’t wait to visit :)
Eggan
22:33
when tex goes to ithaca i want to come
Dkk
22:34
Crying Tiger, best Thai dish.
KnowledgeableRitzyWasp
22:35
damn im so hungry all i had today was a curry tonkatsu and buldak
KnowledgeableRitzyWasp
22:35
and it was a lil baby noodle cup
KnowledgeableRitzyWasp
22:35
vvv hungry
Eggan
22:36
curry tonkatsu so yummeh
Eggan
22:36
whats even open rn? pizza?
KnowledgeableRitzyWasp
22:36
CTB is it i think
Eggan
22:37
is collegetown pizza not open
Eggan
22:37
i used to get a slice from there or wings over at like 1am after my shift at the restaurant
Dkk
22:48
Ross Ulbricht free. God Bless Trump. Huge win.
JeremyFragrance
22:54
agreed
texaslawhopefully
22:55
This is an interesting read: https://thedispatch.com/article/birthright-citizenship-trump-implications/
Dkk
23:01
I mean, idk how it's possible to end birth right citizenship without amending the constitution because to me the 14th amendment is pretty clear about it.
KnowledgeableRitzyWasp
23:02
ross ulbricht tried to hire a hitman to kill 5 people
KnowledgeableRitzyWasp
23:02
i am not that sympathetic to him
Dkk
23:04
@KnowledgeableRitzyWasp: That might have been an FBI agent. It was most likely him and he was most likely doing it to retrieve stolen funds that corrupt FBI agents stole, but yeah moral gray area but me personally, cool with hitmen. It's not like it is uncommon to hire hitmen. I don't think the action itself is necessarily wrong but the intent behind it can be.
Dkk
23:05
Like, Boeing whistblowers being killed by hitmen = wrong but a guy hiring hitmen to retrieve stolen funds = good to me.
texaslawhopefully
23:05
@Dkk: Yeah, for sure. My guess is it'll go to SCOTUS and it'll be 8-1 or 7-2, saying that EO was unconstitutional.
Dkk
23:06
Indeed. I need a count for how many exectuive orders he has signed and how many already have pending lawsuits.
HeadyInvincibleRabbit
6:39
i've been away for a while what were the most recent waves? any this week?
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