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Simple English definitions for legal terms

miscellaneous itemized deduction

Read a random definition: fraud in the inducement

A quick definition of miscellaneous itemized deduction:

A miscellaneous itemized deduction is a type of deduction that can be taken on a tax return for certain expenses, such as job or investment expenses, that are not included in other deduction categories. This deduction is only available to taxpayers who choose to itemize their deductions and whose total miscellaneous deductions exceed a certain percentage of their adjusted gross income.

A more thorough explanation:

MISCELLANEOUS ITEMIZED DEDUCTION

A miscellaneous itemized deduction is an expense that can be subtracted from adjusted gross income to determine taxable income. This deduction includes job or investment expenses and other deductions that are not allowed in computing adjusted gross income or personal exemptions. It is only allowed to taxpayers who itemize their deductions and whose total miscellaneous itemized deductions exceed a certain percentage of their adjusted gross income.

  • Job-related expenses such as uniforms, travel, and education
  • Investment expenses such as fees paid to financial advisors and custodial fees
  • Tax preparation fees

For example, if a taxpayer has a total adjusted gross income of $50,000 and their miscellaneous itemized deductions total $5,000, they can only deduct the amount that exceeds 2% of their adjusted gross income, which is $1,000. Therefore, they can only deduct $4,000 from their taxable income.

miscegenation | mischarge

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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