You claimed that I claimed that Trump was a successful wealthy businesman. First, I didn't make the claim. Second, people who criticize Trump here also didn't make the claim. So I don't know where you are getting this from. And yes Erdogan and Duterte have obviously used his debt as leverage. See Trump's property in those respective countries and how someone like Erdogan freezes all diplomatic activity at his property and when he gets his way magically his people bombard his property with expensive stays.
Do these companies illegally pay their daughters as consultants? Do they also have foreign interests that hold debt over their heads that could potentially jeopardize national security? Also, I read somewhere that Trump has $300 million in personal debt coming due in the next three years...things that his ass is on the line for...
Your assumption regarding my accounting/tax law background is as uninformed as your assumption that Trump is a tax cheat. It's people like you that jump to shout out that others are not qualified to give an opinion, while also offering your own uninformed opinion. It's the same people that see a headline about $750 paid in taxes and start salivating without learning anything. Thanks for proving my point, chief.
To follow on this the companies mentioned in the post you respond to are publicly traded companies, Trump Organization doesn't operate like that. Also none of the CEO or Presidents of those companies are the PRESIDENT OF THE UNITED STATES. This is exactly why there is an emoluments clause in the Constitution. There is far too much potential for entanglement of personal benefit, or compromise..
Thoughts on the audit for the fraud 72 million dollar refund and thoughts on the fraud consulting fees he paid his daughter for tax avoidance? Need to clear things up with a subject matter expert.
I'm glad you posted this, because it makes one wonder what "ammunition" means in this context. I would like to define it as "evidence that convinces supporters of the president to reconsider their support, and through careful self-reflection see that their support is inconsistent with their own closely-held values." It turns out that "evidence" in this case is interpreted/rejected via cognitive bias, and the members of the cult of personality can be protected from the pain of recognizing their own hypocrisy by submerging completely into an alternate reality (alternative facts.) Insofar as it is impossible to force someone to admit a mistake or to relinquish a closely-held belief, it is also impossible to have "ammunition" in this sense. We will see in the coming months how many cult members found the strength to leave. (I do not believe that everyone who votes for Trump's reelection is an enthusiastic cult member; I'm sure some will vote cynically. But this is far less excusable in 2020 than it was in 2016.)
it comes up every thread .. and now is about where it is worth mentioning if obama paid $750 in taxes repug party would be going bonkers
I would like to hear a tax expert comment also on using a property you live in as a charitable write off as Trump is doing with Seven Springs. Trump as President was forced to settle a suit on Trump Foundation and shut it down already so we know that he has been using his charities for his own personal benefit.
I haven't read a scant bit of details on this but it is of zero surprise to me that Trump paid little to no taxes. This is very commonplace with real estate investors. Outside of any illegal shenanigans I don't have any issue with Trump for leveraging the law. (note: This isn't a Pro-Trump post, it's a pro-be-smart post) Most people who are up in arms about this stuff don't see that the laws and rules that Trump exploits are available to anyone. Depreciation, write-offs 1031 tax-free exchanges are things anyone can do. One of my real estate mentors, a -very- low-key billionaire, can't even get a credit card because he shows no income. Think about that. He can buy a 500 unit apartment complex in a day but can't traditionally finance his own home. He only pays a very paltry self employment tax. If you want to build wealth in real estate: You need a starting fund. Stop blowing your money. Don't buy a new car as soon as your 'old' one is paid off. Stop 'upgrading' your house when you don't really need a new one. Stop buying $hit. Work more, get a second job. Success starts at 40 hours. Be disciplined. It will pay off in the long run Build your credit. Stop financing useless $h!t. If you can't afford to pay cash on anything but your home or maybe a vehicle that you need for work reasons which makes you money, don't buy it. But use credit cards to pay bills, then pay them off, immediately. You can also make tax-free income in CC points when applied to your credit card bill. Figure out how to buy investment property. I joined a real estate networking and mentoring group. Yes, there is a membership fee, but it's more of a barrier to entry to tire-kickers. The people I know in this group are all either extremely wealthy or on their way there. I won't go into details but the path is out there. Get an accountant who understands real estate taxes. These guys will save you ungodly amounts of tax payments, like they did for Trump. It's all legal. Don't hate the player, hate the game. Or join the game.
You obviously didn't either. I said 'outside of illegal shenanigans' and the bulk of my post was how to leverage tax laws to benefit. Don't be that guy. Do I think Trump is an immoral scumbag of the highest order? Yes. It doesn't mean that everything he did with his wealth was illegal. This info is out there. Benefit from it. Edit: Chances are Trump's family had a family business office set up a long time ago and all he does is listen to them. I don't think he could even tell you the steps of a 1031 tax free exchange under oath.
Thanks for proving mine: What is the tax deduction on chocolate lab breeding if you step in dogshit and have to clean your shoes?
Unfortunately. I doubt this will change any minds. I was talking to a friend yesterday shortly after this came out and said that those who support him will say things like "this just shows he's a smart businessman." and "knows how to work the system" . We've known for a long time that Trump is a cheat and a con. I just posted about how he was forced to shut down Trump Foundation for defrauding charities for Veterans. If that didn't convince many of his supporters to leave him I doubt this will. What this does matter though is for future legal cases into Trump .
Who has claimed that EVERYTHING Trump has done with his wealth is illegal? Most of it was just horrible decision making. The fraud comes after to save himself from the horrible decision making And the most concerning aspect of this isn't the fraud. It's the leverage foerign actors have on him due to his debts.
these guys consistently defend illegal as legal until the next deduction. once you start getting into detail (as xerobull admits he didnt look into) you see verifiable outright fraud and illegal activity. deducting this and that is normal. you domt have to be any kind of baller to know that. sure he has tax attorneys. sure he is minimizing but dont piss on me and call it rain. when you start making up false expenses and start down the enron path you are no long leveraging the tax code..you are a fu*cking criminal.
