The BIG ONE: 20 years of Trump taxes obtained by NYTs

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm a small business owner. Own multiple small businesses and several real estate investments. high 6 to 7 figure/annum income depending on the year. DESPISE TRUMP and am disgusted he is president. But there is nothing here. I haven't paid much tax for decades but I do pay our CPA a nice chunk of change to legally and cleanly make most of my taxes disappear. I believe most entrepreneurs, business owners and real estate investors end up paying minimal income tax. I know lot of folks earning millions a year paying less in tax than our school bus driver. Why blame trump for doing the same?

I'm just so worried that all this desperation by Dems and mainstream media to bring him down is going to blow up in our faces.

You’re a liar or your CPA is breaking the law. I’m also a small business owner, revenue was $3 million in 2019. Legally I can’t expense my clothes or haircuts. Why can Trump? I can deduct mileage but legally I can’t expense a car. Why can Trump? Sure, some of this has to do with real estate depreciation...but his fraudulent expenses and deductions are outrageous. You should get a new CPA before you’re audited.

This is utter BS, the only way to fend off the eventual cash crunch that comes from yearly losses is deductions of non-cash expense like depreciation (or keep borrowing, like Trump, and eventually the house of cards comes down), but at some point (even after decades in some cases) assets are fully depreciated, and in you sell them, you pay gain on the entire depreciated. so at some point tax deferrals catch up with you. It doesn't go on forever.

[Anonymous]

Anonymous wrote:"You pay taxes but Trump doesn't" is great political messaging, but it isn't the story. Our system protects those who risk losses to create businesses and jobs.

The story is that Trump is a failed businessman who (as a result) is personally indebted, by hundreds of millions of dollars, to America's enemies.

My parents own a successful business and are very well to do, and yet they b*tch about taxes all the time. So they are either doing something right, or something wrong....

[Anonymous]

Anonymous wrote:This is pretty hard for the GOP to ignore. They can claim he's a good businessman, or smart, or whatever they want to say, but the "little people" will realize they pay far more taxes than the orange POS, and this will bother them.

It sure bothers me. I don't have all those mansions and golf courses, nor did I inherit $100 million.

$750, two years in a row. $750. I'd like to write off $70,000 for haircuts, sure I would. Sure.

Good businessmen makes profits rather than consistently colossal losses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a small business owner. Own multiple small businesses and several real estate investments. high 6 to 7 figure/annum income depending on the year. DESPISE TRUMP and am disgusted he is president. But there is nothing here. I haven't paid much tax for decades but I do pay our CPA a nice chunk of change to legally and cleanly make most of my taxes disappear. I believe most entrepreneurs, business owners and real estate investors end up paying minimal income tax. I know lot of folks earning millions a year paying less in tax than our school bus driver. Why blame trump for doing the same?

I'm just so worried that all this desperation by Dems and mainstream media to bring him down is going to blow up in our faces.

You’re a liar or your CPA is breaking the law. I’m also a small business owner, revenue was $3 million in 2019. Legally I can’t expense my clothes or haircuts. Why can Trump? I can deduct mileage but legally I can’t expense a car. Why can Trump? Sure, some of this has to do with real estate depreciation...but his fraudulent expenses and deductions are outrageous. You should get a new CPA before you’re audited.

This is utter BS, the only way to fend off the eventual cash crunch that comes from yearly losses is deductions of non-cash expense like depreciation (or keep borrowing, like Trump, and eventually the house of cards comes down), but at some point (even after decades in some cases) assets are fully depreciated, and in you sell them, you pay gain on the entire depreciated. so at some point tax deferrals catch up with you. It doesn't go on forever.

Yup. People say one of the reasons Trump ran for President was that the fictitious gravy train was coming to an end. And instead we taxpayers are paying for their grift now.

[Anonymous]

If Trump paid $70,000 for haircuts he needs his money back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:LOLz. Breitbart headline now:

"Joe Biden Exploited S-Corporation Loophole to Avoid Payroll Tax"

https://www.breitbart.com/politics/2020/09/28/joe-biden-allegedly-exploited-s-corporation-loophole-to-avoid-paying-medicare-social-security-taxes/

He still paid $3 million in taxes.

He needs a better accountant.

S-Corps are now "loopholes"? BWAHAHAHAHAHAHAHAHAHAHAAAAA!!!!

But you know that Breitbart’s followers will be posting this story as part of their ignorant whataboutism

[Anonymous]

Anonymous wrote:If Trump paid $70,000 for haircuts he needs his money back.

It's $1,000 per hair.

[Anonymous]

This is why it is about fraud and not just being good at tax law or bad at business:


"the Times reports that the IRS has been looking into his questionable refund and the New York attorney general has been investigating whether he inflated land appraisals to increase his deductions. In his returns, there are allegedly questionable “consulting” fees that seem to have been paid to his children and then claimed as business expenses, thus reducing his liability. Much of Trump’s lavish lifestyle is treated as a business expense. This is easy to claim, since much of his “business” consists of “being Donald Trump”. So he wrote off $70,000 of hairstyling as a business expense. If he is selling a brand, and the brand is “hedonistic self-indulgence”, then, as the Times put it, “everything that feeds the image … can be written off.”

A particularly egregious instance of bending the law stands out. In 1996, Trump bought a 50,000 sq ft historic mansion in Westchester county, which is surrounded by nature preserves. Trump threatened to develop the property and the people in surrounding towns objected, so instead he agreed not to develop it in exchange for a “$21.1m charitable tax deduction” for land preservation. Trump then classified the mansion as an investment rather than a residence so that he could reduce his property taxes, even though it appears the Trump family did indeed live in it."

[Anonymous]

Anonymous wrote:This is why it is about fraud and not just being good at tax law or bad at business:


"the Times reports that the IRS has been looking into his questionable refund and the New York attorney general has been investigating whether he inflated land appraisals to increase his deductions. In his returns, there are allegedly questionable “consulting” fees that seem to have been paid to his children and then claimed as business expenses, thus reducing his liability. Much of Trump’s lavish lifestyle is treated as a business expense. This is easy to claim, since much of his “business” consists of “being Donald Trump”. So he wrote off $70,000 of hairstyling as a business expense. If he is selling a brand, and the brand is “hedonistic self-indulgence”, then, as the Times put it, “everything that feeds the image … can be written off.”

A particularly egregious instance of bending the law stands out. In 1996, Trump bought a 50,000 sq ft historic mansion in Westchester county, which is surrounded by nature preserves. Trump threatened to develop the property and the people in surrounding towns objected, so instead he agreed not to develop it in exchange for a “$21.1m charitable tax deduction” for land preservation. Trump then classified the mansion as an investment rather than a residence so that he could reduce his property taxes, even though it appears the Trump family did indeed live in it."

Wow trump is so smart, he did it himself? No cpas or anything? Wait a minute maybe he accounting firm are the issue if there are any at all. Unless tax uses turbo tax deluxe himself!

[Anonymous]

And for those looking for the Russia connection

[Anonymous]

Anonymous wrote:

Anonymous wrote:If Trump paid $70,000 for haircuts he needs his money back.

It's $1,000 per hair.

[Anonymous]

Anonymous wrote:It doesn't bother me one bit.

well, of course not. Trumpsters are cult members, and cult leaders could kill someone on 5th ave and not lose member support.

We all know that Trump can do no wrong in your eyes. He could literally be a pedophile and you would not care. That is why people despise you, in case you didn't realize it.

[Anonymous]

Same bank used by Jeffrey Epstein.

[Anonymous]

Anonymous wrote:And for those looking for the Russia connection

And Justice Kennedy's son Justine was in charge of loaning Trump money. During an investigation of the bank's money laundering habit, Justice Kennedy suddenly got the idea to resign form the Supreme Court. https://www.businessinsider.com/anthony-kennedy-son-loaned-president-trump-over-a-billion-dollars-2018-6

[Anonymous]

This is a twitter thread from earlier in the year suggesting how Trump could be using the golf courses to launder Russian money