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Trying to get caught up on this Stormy Trump thing and have some questions.
Posted on 5/19/24 at 1:24 am
Posted on 5/19/24 at 1:24 am
Read the indictment and the synopsis I guess.
NDAs aren’t illegal. Seems like Trump claimed this as a legal expense and there was no retainer for cohen.
So.
What are NDAs supposed to be classified as on taxes.
I’m legitimately asking.
Also who gives a frick what the guy does with his own money. They say he filed it as a legal expense and it’s not, well what is it?
If you file it as “whore” it really diminishes the purpose of an NDA
Somebody educate me please
NDAs aren’t illegal. Seems like Trump claimed this as a legal expense and there was no retainer for cohen.
So.
What are NDAs supposed to be classified as on taxes.
I’m legitimately asking.
Also who gives a frick what the guy does with his own money. They say he filed it as a legal expense and it’s not, well what is it?
If you file it as “whore” it really diminishes the purpose of an NDA
Somebody educate me please
Posted on 5/19/24 at 1:33 am to Slevin7
Maybe i am mistaken but i read they are claiming he mislabeled them on his Financial Statements, not his tax return. GAAP would only require them to be broken out on the face of the FS if they are material to the FS and they would need to be disclosed with a footnote. But calling them legal fees is certainly within GAAP. For a billionaire's FS, 150k is certainly immaterial. I audit companies with 10s of millions in revenue and 150k is well below materiality.
This post was edited on 5/19/24 at 1:36 am
Posted on 5/19/24 at 7:02 am to Slevin7
Cohen is just an idiot.
You dont pay off whores. They come back for more.
You dont pay off whores. They come back for more.
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