"loopholes"The Times reports that Trump Organization tax records show between 2010 and 2018, President Trump wrote off as business expenses $26 million in "consulting fees." The consultants are not listed by name, but the Times compared the tax records to financial disclosures Ivanka Trump filed when she started working at the White House in 2017 as a senior adviser to her father. Ivanka Trump reported receiving $747,622 in payments from a consulting company she co-owned — the same exact amount in consulting fees the Trump Organization claimed as tax deductions for hotel projects in Hawaii and Vancouver.
As an executive officer with the Trump Organization, Ivanka Trump managed the Hawaii and Vancouver hotel projects, "meaning she appears to have been treated as a consultant on the same hotel deals that she helped manage as part of her job at her father's business," the Times said. Ivanka Trump earned a salary of about $480,000 while serving as an executive with the Trump Organization, and the amount jumped up to $2 million after her father became president, the Times reports; since leaving to work in the White House, she has not received a salary from the company.
The [s]First[/s] Only Trump term...so far
The First Trump term.
It's not me, it's someone else.
The First Trump term.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
The First Trump term.
Honestly, what's above just sounds like fraud.
It's not me, it's someone else.
The First Trump term.
And that's my point. If it's illegal/fraud, it's not a loophole. If it's part of the tax code, it's still not a loophole. To, me, what he's doing is challenging the interpretation of something and is hoping he''ll get away with his very loose interpretation. If the IRS looks at it and says "Yep. All legit." it's not a loophole. It's a valid deduction he has every right to take. If they look at it and say "No. This isn't how it works." then it's still not a loophole. He did his taxes incorrectly/fraudulently.
The First Trump term.
Thus, my initial reaction of, "Is it illegal?"
"Be bold, and mighty forces will come to your aid."
The First Trump term.
It's easier to get away with when you continue to gut IRS budgets and blow a bunch of $$$ on lawyers.Cakedaddy wrote: And that's my point. If it's illegal/fraud, it's not a loophole. If it's part of the tax code, it's still not a loophole. To, me, what he's doing is challenging the interpretation of something and is hoping he''ll get away with his very loose interpretation. If the IRS looks at it and says "Yep. All legit." it's not a loophole. It's a valid deduction he has every right to take. If they look at it and say "No. This isn't how it works." then it's still not a loophole. He did his taxes incorrectly/fraudulently.
It's not me, it's someone else.
The First Trump term.
I assume all the lawyers are to ensure he follows the letter of the law. That's cool of him to spend a lot of $$$ to make sure of that.
"Be bold, and mighty forces will come to your aid."
The First Trump term.
Just saw a meme, "Stormy Daniels collected more from trump in 2016 then the irs did." Pretty funny.
"Be bold, and mighty forces will come to your aid."
The First Trump term.
https://nypost.com/2020/09/29/eric-trum ... community/It all started when Eric Trump was asked on “Fox & Friends” about a lesbian New Yorker who supports the president.
“I’m telling you, I see it every day, the LGBT community, they are incredible and you should see how they’ve come out in full force for my father every single day. I’m part of that community and we love the man and thank you for protecting our neighborhoods and thank you for protecting our cities,” Trump said.
lol
It's not me, it's someone else.
The First Trump term.
Is this true? Someone else cares more to do the checking, I'm just mildly curious.
Says trump actually paid a shitload in taxes those years.
https://www.westernjournal.com/nyts-hit ... s-treasury
Says trump actually paid a shitload in taxes those years.
https://www.westernjournal.com/nyts-hit ... s-treasury
"Be bold, and mighty forces will come to your aid."
The First Trump term.
It's literally right there in the article.GORDON wrote: Is this true? Someone else cares more to do the checking, I'm just mildly curious.
Says trump actually paid a shitload in taxes those years.
https://www.westernjournal.com/nyts-hit ... s-treasury
So he made an estimated tax payment, as many people with businesses, etc do, then his eventual filing reduced his liability to $750 by using tax credits from other activities. So the $750 still appears to be accurate. In fact, the article says it is.“Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.”
It's not me, it's someone else.
The First Trump term.
It says it in the article, but I always assume everything is lying, all the time.
So he got the millions he pre-paid back? Or... they rolled forward?
So he got the millions he pre-paid back? Or... they rolled forward?
"Be bold, and mighty forces will come to your aid."
The First Trump term.
He rolled them forward to future years' tax liability. But we don't know what those years' liability are, if any. He paid $5.2M, but had $9.6M of credits. So he could have $4.4M of credits to use against future years as well.
It's not me, it's someone else.
The First Trump term.
So,.......
Either those two years were flukes and he'll get that money back, or he pays millions each year and doesn't get it back.
Either those two years were flukes and he'll get that money back, or he pays millions each year and doesn't get it back.
"Be bold, and mighty forces will come to your aid."
The First Trump term.
Ok, so the TRUMP DOESN'T PAY TAXES news from the last week is horseshit, because there still isn't enough information. Except he's definitely paid millions to the treasury, that is beyond dispute.
That any of you believe anything reported about him boggles me.
That any of you believe anything reported about him boggles me.
"Be bold, and mighty forces will come to your aid."
The First Trump term.
The facts in the NY Times article appear to be entirely accurate, and no one has shown otherwise.
It's not me, it's someone else.
The First Trump term.
And the conclusion to be drawn, with limited information, after checks were written for millions, is that he doesn't pay taxes?
"Be bold, and mighty forces will come to your aid."
The First Trump term.
I hate it when people make me defend stupid shit.
"Be bold, and mighty forces will come to your aid."
The First Trump term.
His businesses lose a shit ton of money. And he made money from The Celebrity and licensing his name.
An interesting graph here: https://www.nytimes.com/interactive/202 ... eline.html
Reporter: Publishes tons of details and information
Gordon: (doesn't read it) I saw a tweet that says it's wrong, can't believe you people believe the lies.
Also, look into his Scotland property for suspicious accounting. (Maybe others, but that one's public due to UK laws)
It's not me, it's someone else.