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LSDefine

Simple English definitions for legal terms

tax year

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A quick definition of tax year:

Tax Year: A period of time used for calculating how much money a person or company owes in taxes to the government. It can either be a calendar year, which is 12 months from January 1st to December 31st, or a fiscal year, which is any 12-month period ending on a day other than December 31st. The tax year is important for determining how much income tax a person or company owes to the government.

A more thorough explanation:

A tax year is a period of time used for calculating federal or state income tax liability. It can either be a calendar year, which is twelve consecutive months starting from January 1 and ending on December 31, or a fiscal year, which is a period of twelve months ending on the last day of a month other than December.

For example, if a company's fiscal year is from October 1 to September 30, then their tax year would be from October 1 of one year to September 30 of the next year. This is because their fiscal year does not align with the calendar year.

Another example is an individual who starts a business in May. They may choose to have a tax year that starts in May and ends in April of the following year, rather than using the calendar year.

Understanding the tax year is important for individuals and businesses to accurately calculate their tax liability and file their tax returns on time.

tax write-off | TBC

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0:12
BROOO I JUST WATCHED THAT VIDEO IT'S INSANE! consumers AND content creators got fucked
windyMagician
0:12
@YoungThugLawyer: someone said your stats are too high and you will get yp. idk about all that. did you write both optionals? what are your softs?
0:12
@YoungThugLawyer: others said u would get yield protection rejected. Not sure tho.
windyMagician
0:13
girl you just applied
0:13
@ChowieBean: yeah. And PayPal has made honey points a big part of their eco, so if vids are true, PayPal biz is is trouble
ah ok. i did write the why umich but my softs are kinda mid (summer job, district attorney office internship, political clubs). im KJD if that helps
windyMagician
0:14
hard to say. just lay back and chill. go to the gym maybe.
0:14
Idk the dean there was high lsat so I would say sure there is a YP risk but to what degree? Who knows
i hate yield protection so much
0:15
Big brain probs
windyMagician
0:16
high stat ppl get into mich. i think mich cares much more about fit than any other school so that’s why it has a yp reputation.
0:17
^second that
0:18
what backups are even worth applying to for me? and how many? like i dont see a point in overdoing how many schools i apply to but to what extent would yall do it with my stats and with wanting to do policy/regulatory federal agency/plaintiffs
windyMagician
0:19
I’d go for the usual splitter suspects if you want true safeties — umn, florida, uga, tamu. i really have no clue with your goals I’m sorry :/
i mean from what i can gather from your profile your softs are insane and of course your stats are good as well. i dont know a lot about admissions but maybe like boston, uga, and washu could be good safeties?
0:20
Couldn’t give u an informed answer but common sense says big state schools or near DC
0:20
thank you guys. what are good big state schools - u mean CA NY etc?
windyMagician
0:21
sometimes i just wanna say fuck it and go to Nebraska. I didn’t even apply
0:21
Home of the Buffet :)
Dkk
0:23
@llama: the advisor to honey works at UCLA and wrote me a letter of rec. It's not a good time for me lol.
is georgetown known to yield protect?
windyMagician
0:23
no.
0:25
15/15 dk- news should be delayed some for verification of the state of affairs, I bet u will be good this cycle ;) (also, not ur monkey, not ur circus). @chow like UGA. UofFL UHuston etc idk tho not really knowledgeable on it
Dkk
0:26
@llama: indeed, indeed
0:27
should i prioritize sending in my T14 apps first and then targets/safeties, or mix em all together? 15/15. and thank you guys i just wanna know if youd apply to like 30 law schools all over or just keep it simple w targets and safeties.
Dkk
0:27
@ChowieBean: if I were you I would go all T14s and then like Vanderbilt, BU, whatever.
yea i agree i think you are competitive for all T14s
Dkk
0:28
I am watching legally blonde for the first time right now so bye bye good luck!
0:28
Yea get the t14 in pronto, then shotgun some off after . See ya Dkk
Dkk
0:28
Ill unprivate my profile for christmas if you want to see what I did @chowie
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