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Simple English definitions for legal terms

tax-free

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A quick definition of tax-free:

Tax-free means that something is not subject to taxation by law. This can refer to a charity or other organization that is exempt from paying taxes, or to an investment such as municipal bonds that does not require the investor to pay income tax on the interest earned. Essentially, tax-free means that no taxes need to be paid on a particular item or income.

A more thorough explanation:

TAX-FREE

Tax-free means that something is not subject to taxation by law. It can also refer to interest earned on investments that is not subject to income tax.

A tax-exempt charity is an organization that is not required to pay taxes on the money it receives from donations.
Tax-exempt municipal bonds are investments that pay interest that is not subject to income tax.

These examples illustrate that tax-free means that something is exempt from taxation. In the case of a tax-exempt charity, it means that the organization does not have to pay taxes on the money it receives. In the case of tax-exempt municipal bonds, it means that the interest earned on the investment is not subject to income tax.

tax foreclosure | tax-free exchange

General

General chat about the legal profession.

General >T14 Off Topic

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chickenburgahfart

10:26

my laptop feels like an icecube

shaquilleoatmeal

10:47

it was 8 degrees this morning when I went for a walk, up at 14 now but ive been waitin for this weather all year

shaquilleoatmeal

10:48

also wtf dkk? you say some pretty outta pocket shit sometimes that no one calls you out for

windyMagician

10:52

I think he gets away from it by being an oldhead

windyMagician

10:52

*with not from

shaquilleoatmeal

10:55

nah bulb and i don't say anythin that wild and we're considered oldheads

cheriebomb

10:57

yeah but he’s the racist kind of old head and you’re not

cheriebomb

10:58

it’s kinda like when your grandpa with alzheimer’s starts saying some crazy shit

windyMagician

10:59

grandpa be like "back in my day I smashed so many latina milfs"

shaquilleoatmeal

11:04

smh

windyMagician

11:09

shaq hows ur love life going? any updates?

shaquilleoatmeal

11:14

damn couldnt even get to Christmas dinner before this question lmao im not looking for anything serious rn so no updates lol

cheriebomb

11:14

i made out with my ex in a stairwell the other day if you care. my only update

shaquilleoatmeal

11:14

oof

shaquilleoatmeal

11:14

twitter ex or a different ex

cheriebomb

11:15

different ex

windyMagician

11:15

since its not Twitter dude I'll forgive it

shaquilleoatmeal

11:17

at least you did that before the new year, cant carry that baggage in 25

cheriebomb

11:17

I think he thinks if I move to nyc we’re going to get back together

cheriebomb

11:17

that’s not my plan tbh

jackfrost11770

11:18

https://www.reddit.com/r/lawschooladmissions/comments/1hk0qlh/insane_admissions_story/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

jackfrost11770

11:18

this is so funny

shaquilleoatmeal

11:19

lmao damn wish id be classmates with this dude

shaquilleoatmeal

11:20

@cheriebomb: you never know what the future holds

jackfrost11770

11:20

also cherie fallen soldier

jackfrost11770

11:20

i got home at 8 am from the club and my neighbor was leaving to go biking. truly living in different worlds

cheriebomb

11:20

i don’t fw him that heavy tbh

cheriebomb

11:21

i get along better with his friends than i do with him

windyMagician

11:21

nah the hiking in Nike blazers deserves jail time

cheriebomb

11:21

he was already vomiting and shitting in a hole I think he did his penance

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