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LSDefine

Simple English definitions for legal terms

other income

Read a random definition: institutional gerrymandering

A quick definition of other income:

Other income refers to money or payment received from sources other than employment, business, or investments. This can include royalties, gifts, and other forms of periodic payments. Other types of income include accrued income, which is money earned but not yet received, and disposable income, which is income that can be spent or invested after taxes and other primary obligations have been paid. Other income can also include dividend income, which is income resulting from a dividend distribution and subject to tax, and investment income, which is income earned from investments rather than labor.

A more thorough explanation:

Definition: Other income refers to money or payment received from sources other than employment, business, investments, royalties, gifts, and the like. It includes income that is earned but not yet received, income that is retained in an account, and income that is not subject to income tax.

  • Accrued income: Money earned but not yet received, such as a paycheck that has been earned but not yet paid.
  • Passive income: Income derived from a business, rental, or other income-producing activity that the earner does not directly participate in or has no immediate control over, such as rental income or dividends.
  • Exempt income: Income that is not subject to income tax, such as certain types of government benefits or income earned by a nonprofit organization.

These examples illustrate the different types of income that fall under the category of other income. Accrued income is money that has been earned but not yet received, while passive income is income that is earned without active participation. Exempt income is income that is not subject to income tax, such as certain types of government benefits or income earned by a nonprofit organization.

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JumpySubsequentDolphin
20:48
I DIDNT REALIZE WHEJ I BOUGHT THEM BC THEYRE HIDDEN. LIKE INSTEAD OF A ZIPPER THEYREBALL BUTTONS
JumpySubsequentDolphin
20:48
what if I have to pee.
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
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