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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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.[/quote]

+1 Original PP is either a troll, lying about not paying taxes, or he is actually breaking the law and is one audit away from going to prison. However, it's perfectly reasonable for someone in the entertainment business to deduct expenses incurred for makeup, hair, wardrobe, etc. If you are in the entertainment business, you would be able to do exactly the same. Similarly, if you have a car dedicated to business use 100% of the time, then it is perfectly fine to deduct it as a business expense. You probably only use your car for business part time, therefore you can only deduct miles and not the whole car. [/quote]

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