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LSDefine

Simple English definitions for legal terms

tax-exempt income

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A quick definition of tax-exempt income:

Tax-exempt income: Income that you don't have to pay taxes on. This means that the government won't count this money when they calculate how much you owe in taxes. Some examples of tax-exempt income are health insurance from your job and Social Security benefits. However, not all types of income are tax-exempt, like money you get from gifts or inheritances.

A more thorough explanation:

Tax-exempt income

Tax-exempt income is money that you earn from any source that the government does not include when calculating your income tax. This means that you do not have to pay taxes on this income. However, you may still need to report it on your tax return. Examples of tax-exempt income include:

Some forms of income, such as inheritances and gifts, are also not included in income tax because they have their own tax systems that apply.

When you earn money, you usually have to pay taxes on it. However, there are some types of income that the government does not tax. These are called tax-exempt income. For example, if your employer provides you with health insurance, the value of that insurance is not included in your taxable income. Similarly, if you receive Social Security benefits, you do not have to pay taxes on that money. Municipal bond interest and disability benefits are also examples of tax-exempt income.

tax-deferred exchange | Taxable income

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KnowledgeableRitzyWasp
11:59
i ordered 30 barebell protein bars tho
babycat
11:59
that ellenos Greek yogurt tastes like ice cream it’s insane
babycat
11:59
for if you want a fancy little treat
KnowledgeableRitzyWasp
11:59
okay adding to the list
KnowledgeableRitzyWasp
11:59
ive been having the balkan breakfast every morning lately and greek yogurt would break that up
babycat
12:00
This comment on the vid says “I ate some Fage yogurt...all of a sudden, you look so freaking beautiful!! You are a good looking guy! Real pretty mouth 😉”
shaquilleoatmeal
12:01
taste like chalk but for the gains i do pure protein, less carbs and fats than other competitors out there
babycat
12:01
shaq post mouth
KnowledgeableRitzyWasp
12:01
that's certainly a comment of all time
shaquilleoatmeal
12:01
barbell looks legit though - imma check them out
KnowledgeableRitzyWasp
12:02
sooo good the bars taste like candy and it's llike 20g protein in 200 calories so it's pretty good
shaquilleoatmeal
12:02
i do have a real pretty mouth ;)
llama
12:02
fat free string cheese + jerky is also a good P source
JumpySubsequentDolphin
12:02
David protein bars are quite nice
JumpySubsequentDolphin
12:02
28g protein and 150 calories or smth insane
shaquilleoatmeal
12:02
rice cakes + protein pb - chefs kiss. But yall need real food don't forget
KnowledgeableRitzyWasp
12:03
yummy
shaquilleoatmeal
12:04
boutta eat 5-6 plates at Thanksgiving, bringing tupperware too lmao
KnowledgeableRitzyWasp
12:04
my mom is coming up to ithaca to bring me thanksgiving food :)
KnowledgeableRitzyWasp
12:04
my dad was going to come too but he got called into emergency meetings
babycat
12:04
I used to really like those built puffed bars (sounds like a vape lol) but their protein source is collagen and supposedly collagen doesn’t contribute to muscle building the way other forms of protein do
shaquilleoatmeal
12:04
a real mom, better give her lots of love
JumpySubsequentDolphin
12:05
@babycat: I don’t even know if your body can absorb collagen
shaquilleoatmeal
12:05
im such a mommas boy, proud of it too lmao but i think the girls i date hate it because my mom expects so much from then lmao
shaquilleoatmeal
12:05
them*
JumpySubsequentDolphin
12:06
like it gets broken down into little amino acids but the jury’s still out on whether that actually contributes to increased collagen levels. some people say it stimulates the production of collagen but i dont think theres any conclusive evidence that it does that
shaquilleoatmeal
12:07
that collagen shit is probably all marketing just to target gym girls
babycat
12:09
I mean they say the bar has like 17g of protein and it’s pretty low cal and tastes good but I just don’t think you can call it a protein bar if the source is collagen
JumpySubsequentDolphin
12:10
makes me so mad when I see collagen in skincare
KnowledgeableRitzyWasp
12:12
shaq heck yeah family is the most important :) and yes collagen is worthless your body breaks it down into amino acids and it has zero unique value, plus collagen doesn't have all the essential aminos so it's worse than whey
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