More Trump fraud: businesses keep 2 sets of numbers, one for taxes, the other to get loans

[Anonymous]

Great reporting here confirming what we all know, that Trump as a businessman is a total fraudster.

It always comes down to this: Trump is a liar of gigantic proportions and unethical to his bone. He'll do to our democracy what he's done with his businesses.

https://www.propublica.org/article/trump-inc-podcast-never-before-seen-trump-tax-documents-show-major-inconsistencies

Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.

For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.

A dozen real estate professionals told ProPublica they saw no clear explanation for multiple inconsistencies in the documents. The discrepancies are “versions of fraud,” said Nancy Wallace, a professor of finance and real estate at the Haas School of Business at the University of California-Berkeley. “This kind of stuff is not OK.”

New York City’s property tax forms state that the person signing them “affirms the truth of the statements made” and that “false filings are subject to all applicable civil and criminal penalties.”

[Anonymous]

Can he go to prison for this? I want him to go to prison for treason but I'll settle for fraud.

[Anonymous]

Yes, these fraudulent practices have been widely investigated and reported on by Maddow - and for those who blow her off - that's your choice. But, her and her team's reporting on this has been extensive, comprehensive and exhaustive. Your President is a criminal.

[Anonymous]

Gee, I guess that's why he never released his taxes.

[Anonymous]

Loan fraud plus tax fraud

[Anonymous]

Here come the Trump supporters telling us

- fake news!
- of course he did it all rich guys do this!
- this just proves how *smart* and honest he is!
- OBAMA WAS BLACK

[Anonymous]

Anonymous wrote:Here come the Trump supporters telling us

- fake news!
- of course he did it all rich guys do this!
- this just proves how *smart* and honest he is!
- OBAMA WAS BLACK

you forgot:
- Hillary blah blah EMAIL blah blah

[Anonymous]

All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

[Anonymous]

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

I see you didn't bother to read the article. Was it too long for you?

[Anonymous]

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

DRINK!

(Not you pp)

[Anonymous]

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

BS. GAAP and tax accounting are different, but proper GAAP accounting gives you information to reconcile with tax accounting.

Providing made up numbets to lenders is a different matter altogether.

[Anonymous]

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

I recognize your writing - weren't you part of the accounting team in Enron?

[Anonymous]

Anonymous wrote:

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

I recognize your writing - weren't you part of the accounting team in Enron?

[Anonymous]

Anonymous wrote:

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

I see you didn't bother to read the article. Was it too long for you?

I read the article, there is no specific analysis that indicates a finding of fraud, only general references to different numbers and questions. Again, having different numbers for bankers/lenders who use GAAP versus tax is completely normal. I am not opposed to the consideration that Trump should be audited for fraud, but it's foolish to jump to conclusion that there is fraud just because there are differences in the numbers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All large businesses maintain two sets of books. This is a simple fact of life for businesses in the US. It is discussed in Managerial Accounting courses in any college/university. This is because tax law and GAAP do not have to use the same basis for accounting.

Seeing liberals hyperventilating about a completely normal thing is par for the course.

I recognize your writing - weren't you part of the accounting team in Enron?

Oh you are so clever!!! It is a common point in accounting classes that it is not the second set of books that is the problem, but the third set, which is the issue with Enron.