Trump's tax info is out

Leroy42

astrofool wrote: »

As a television personality, it's allowed as a business expense, pretty par for the course (but of course funny as he looks like sh*t).

No they are not.

https://www.npr.org/2020/09/28/917810562/dont-deduct-that-haircut-just-yet-tax-court-has-rejected-such-claims?t=1601501266566

astrofool

Leroy42 wrote: »

No they are not.

https://www.npr.org/2020/09/28/917810562/dont-deduct-that-haircut-just-yet-tax-court-has-rejected-such-claims?t=1601501266566

Happy to be wrong about this one.

Outlaw Pete

astrofool wrote: »

So, your contention is that the data is real then?

"Real" in that it exists, yes - whether it's accurate or complete or not, no bugger knows.

bobbyy gee

Trump’s Tax Avoidance Is a Tax on the Rest of Us


https://www.nytimes.com/2020/09/30/opinion/trump-taxes.html

iLikeWaffles

Surely it can't be true. He's such a role model, that has never said that he takes advantage of the laws in order to avoid paying taxes.

Leroy42

Outlaw Pete wrote: »

"Real" in that it exists, yes - whether it's accurate or complete or not, no bugger knows.

Trump hasn't denied it though, which surely he would. His main response has been that he paid state taxes, which is odd since this is federal.

Outlaw Pete

Outlaw Pete wrote: »

"Real" in that it exists, yes - whether it's accurate or complete or not, no bugger knows.

He's free to release his taxes himself and that would clear everything up. The fact he has actively fought tooth and nail over them ending up public indicates there's something to hide. It looks the NYT found out why.

astrofool

Outlaw Pete wrote: »

"Real" in that it exists, yes - whether it's accurate or complete or not, no bugger knows.

Is the data that the New York Times obtained correct or made up?

biko

https://www.businessinsider.com/wealth-manager-explains-why-donald-trump-is-smart-for-not-paying-taxes-2016-11
A wealth manager for the 1% explains why her clients think Donald Trump is smart for not paying his taxes

Harrington explained that this stems from a common belief held among her elite clients and their wealth managers that they are "doing the world a favour as wealth creators" and that paying taxes is simply thievery by the government.

Quin_Dub

biko wrote: »

https://www.businessinsider.com/wealth-manager-explains-why-donald-trump-is-smart-for-not-paying-taxes-2016-11
A wealth manager for the 1% explains why her clients think Donald Trump is smart for not paying his taxes

Harrington explained that this stems from a common belief held among her elite clients and their wealth managers that they are "doing the world a favour as wealth creators" and that paying taxes is simply thievery by the government.

In Shock news ,Rich A$$holes think another Rich A$$hole is right to defraud the Government.

Are there enough "Elite Client" votes out there to win him the Election.

All those Ultra High Net worth voters in Michigan and Wisconsin will surely get Trump over the line...

Igotadose

The #IMPOTUS might be guilty of tax FRAUD (not, being clever with deductions) involving Ivanka. Stuff you go to prison for.

https://thehill.com/homenews/administration/518728-ex-watergate-prosecutor-predicts-trump-charges-on-tax-evasion-after

Quoting the ex-Watergate prosecutor (one of many, tbh, and probably fairly old at this point might not be up on the tax laws anymore)

---

"Tax avoidance is simply taking the tax code and getting the most deductions you can get under the code that is perfectly legal. Tax fraud, however, is lying about what your income was, lying about what your deductions are, and there's a couple of items that just stand out in that report from the New York Times that really appear to go beyond tax avoidance.”

da_miser

Trump haters are blinded and cant see how tax works
He may have paid $750 income tax
How much Capital Gains Tax did he pay?
Here are the income earned by a few CEO, so how could they pay tax on these wages?
Kosta Kartsotis, Fossil Group, FOSL, $0
David Liniger, RE/MAX, RMAX, $0
John Mackey, Whole Foods, $1
James Truchard, National Instruments, NATI, $1
Lawrence Page, Alphabet, GOOGL, $1
As you can see Larry "Google "Page got paid $1, how much of that did he pay in income tax?
Bet he was paid a mountain of stock and when he cashed out was hit with CGT.
You are eating up the fake news and asking for a second helping.
Think for yourselves, dont believe everything you are told, brace yourself for a Trump win , as its coming.
https://eu.usatoday.com/story/money/markets/2016/05/01/1-year-9-absolutely-lowest-paid-ceos/83620822/

Junkyard Tom

biko wrote: »

Harrington explained that this stems from a common belief held among her elite clients and their wealth managers that they are "doing the world a favour as wealth creators" and that paying taxes is simply thievery by the government.

Parasites.

irishblessing

da_miser wrote: »

Trump haters are blinded and cant see how tax works
He may have paid $750 income tax
How much Capital Gains Tax did he pay?
Here are the income earned by a few CEO, so how could they pay tax on these wages?
Kosta Kartsotis, Fossil Group, FOSL, $0
David Liniger, RE/MAX, RMAX, $0
John Mackey, Whole Foods, $1
James Truchard, National Instruments, NATI, $1
Lawrence Page, Alphabet, GOOGL, $1
As you can see Larry "Google "Page got paid $1, how much of that did he pay in income tax?
Bet he was paid a mountain of stock and when he cashed out was hit with CGT.
You are eating up the fake news and asking for a second helping.
Think for yourselves, dont believe everything you are told, brace yourself for a Trump win , as its coming.
https://eu.usatoday.com/story/money/markets/2016/05/01/1-year-9-absolutely-lowest-paid-ceos/83620822/

Are you American or what's your understanding of Capital Gains tax? Federal & state tax are crucial for supporting those local and national economies. CGT is a different beast altogether from what I understand come in to play for long term held assets and taxed at a much lower rate.
So if they're all "blinded" please do shed light on how he's supported the American people nationally and in his state with his "CGT."

As for how much? Who knows? He hasn't released those figures, why not?

The American tax system seems to favour the top wealthy 1%; so what is your point in listing those individuals other than a whataboutery angle? They're all crooks compared to the average family/individual and their tax system lets them away with it. Doesn't make it right.

So help us in our thinking- what does the CGT on their assets actually contribute to their local and national economy? I'll wait.... :pac:

threeball

Trump took a €910m loss on the Taj Mahal in Atlantic city, which he then wrote off against future taxes. He then claimed by $70m in back taxes two years later. He was entitled to do that as long as he made no money from the transfer of the property to the banks/new owners. He however seems to have take 5% share in future earnings as a payoff which makes the back tax he claimed illegal and is now liable for the $70m plus taxes and penalties.
There are other deals where his history is shady too like the dealings with Deutsche bank on Trump Tower Chicago where he wrote off €600m in loans after the financial crisis due to what he claimed was an Act of God. Most of his apartments in NY were sold cash to the Russian and Italian mafia as there was no requirement for a cash buyer to declare their interest in the property.

da_miser

The people harping on about Trumps tax are the Hollywood celebs, and we all know Hollywood and the TV industry is propped up by huge Tax breaks, hypocrites, buts thats par for the course with the virtue signaling left

Leroy42

da_miser wrote: »

The people harping on about Trumps tax are the Hollywood celebs, and we all know Hollywood and the TV industry is propped up by huge Tax breaks, hypocrites, buts thats par for the course with the virtue signaling left

What, you mean Hollywood celebs are posting on boards about Trump not paying taxes? Really.

Give us a clue, which user is Clooney, or Angelia. Is Dwanye Johnson on here.

Wow, I feel pretty giddy tbh.

Billy Mays

da_miser wrote: »

The people harping on about Trumps tax are the Hollywood celebs, and we all know Hollywood and the TV industry is propped up by huge Tax breaks, hypocrites, buts thats par for the course with the virtue signaling left

Do people who post stuff like this re-read it before hitting the 'submit' button?

Tony EH

Billy Mays wrote: »

Do people who post stuff like this re-read it before hitting the 'submit' button?

I think you already know the answer to this.

iamstop

Mad that this is old news already eh?

Gods Gift

Gods Gift wrote: »

What will trump do to take attention away from this though. That’s what I’d worry about.

How about a dose of the auld corona???

iLikeWaffles

iamstop wrote: »

Mad that this is old news already eh?

Mad that out of all the shit Trump has said and done the past 4 years that he still holds public office.

riclad

His tax returns were read by an accountant, the accountant says trump is a bad businessman or else he committed tax fraud or both. One example whole his daughter work for his company, he paid her consulting fees of 700k.
By doing this he was able to claim a large tax credit. The irs is going through his tax returns for 10 years.
If they rule against him he will get a tax bill for 100 million.
He owes 500 million in debt
These are facts . Not speculation by some Liberal journalists
Yes the tax credits for Hollywood are ridiculous but they are legal
It seems possible that he might have committed tax fraud
Every business he is involved with seems to fail or else make low profits
His big break was appearing on reality TV and getting famous enough to run for president

declanflynn

da_miser wrote: »

Trump haters are blinded and cant see how tax works
He may have paid $750 income tax
How much Capital Gains Tax did he pay?
Here are the income earned by a few CEO, so how could they pay tax on these wages?
Kosta Kartsotis, Fossil Group, FOSL, $0
David Liniger, RE/MAX, RMAX, $0
John Mackey, Whole Foods, $1
James Truchard, National Instruments, NATI, $1
Lawrence Page, Alphabet, GOOGL, $1
As you can see Larry "Google "Page got paid $1, how much of that did he pay in income tax?
Bet he was paid a mountain of stock and when he cashed out was hit with CGT.
You are eating up the fake news and asking for a second helping.
Think for yourselves, dont believe everything you are told, brace yourself for a Trump win , as its coming.
https://eu.usatoday.com/story/money/markets/2016/05/01/1-year-9-absolutely-lowest-paid-ceos/83620822/

Trump win! Ha ha, prison I think it is for the fat man

Peregrinus

da_miser wrote: »

Trump haters are blinded and cant see how tax works
He may have paid $750 income tax
How much Capital Gains Tax did he pay?
Here are the income earned by a few CEO, so how could they pay tax on these wages?
Kosta Kartsotis, Fossil Group, FOSL, $0
David Liniger, RE/MAX, RMAX, $0
John Mackey, Whole Foods, $1
James Truchard, National Instruments, NATI, $1
Lawrence Page, Alphabet, GOOGL, $1
As you can see Larry "Google "Page got paid $1, how much of that did he pay in income tax?
Bet he was paid a mountain of stock and when he cashed out was hit with CGT.
You are eating up the fake news and asking for a second helping.
Think for yourselves, dont believe everything you are told, brace yourself for a Trump win , as its coming.
https://eu.usatoday.com/story/money/markets/2016/05/01/1-year-9-absolutely-lowest-paid-ceos/83620822/

Capital gains are the subject of a separate Capital Gains Tax in Ireland, but in the US they are taxed as part of the Income Tax system. The figure for income tax paid by Trump (or anyone else) in any year includes any tax assessed and paid on capital gains accruing in that year.

Donald Trump

Leroy42 wrote: »

What, you mean Hollywood celebs are posting on boards about Trump not paying taxes? Really.

Give us a clue, which user is Clooney, or Angelia. Is Dwanye Johnson on here.

Wow, I feel pretty giddy tbh.

No, he is not on here. He tried to join but Diarmuid O'Sullivan had already taken his username and Johnson knew well that Diarmuid would batter him if he opened his mouth to complain about it.



Only the best celebrities and still presidents post on here.