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LSDefine

Simple English definitions for legal terms

progressive loss

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A quick definition of progressive loss:

Progressive loss is when something gradually gets worse or decreases in value over time. For example, if a car gets older and starts to break down, it is experiencing progressive loss. This can be a problem if you need to sell the car or if you rely on it for transportation. Progressive loss can also happen with things like investments or property. It is important to keep track of any progressive loss so you can make informed decisions about what to do with the affected item.

A more thorough explanation:

Progressive loss is a term used to describe a gradual and continuous decrease in value or quality of something. It can refer to various situations:

  • In finance, it can be the loss of value of an investment over time.
  • In insurance, it can be the amount of financial damage caused by an insured person's death or an insured property's damage.
  • In tax, it can be the excess of a property's adjusted value over the amount realized from its sale or other disposition.

For example, if you own a car and its value decreases over time due to wear and tear, that's a progressive loss. Similarly, if you have a stock that loses value gradually over several months, that's also a progressive loss.

program trading | progressive tax

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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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