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Started By
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re: Breaking: CNN reporting that 10 years of Trump’s tax returns have been given to the NYT.
Posted on 5/7/19 at 8:22 pm to TheOtherWhiteMeat
Posted on 5/7/19 at 8:22 pm to TheOtherWhiteMeat
4 times right?
I can't remember the number being thrown around 3.5 years ago.
Never saw that 512 number, but if that's true, melting about less than 1% of businesses would seem pretty pathetic.
I can't remember the number being thrown around 3.5 years ago.
Never saw that 512 number, but if that's true, melting about less than 1% of businesses would seem pretty pathetic.
1
Posted on 5/7/19 at 8:22 pm to StrongSafety
That’s irrelevant. Can you stay on course and not let emotions get to you ?
Posted on 5/7/19 at 8:23 pm to Bunyan
In 1994, I was graduating college and 22 years old.
I’m 46 now.
Good job, NYT and their illegal source.
I’m 46 now.
Good job, NYT and their illegal source.
This post was edited on 5/7/19 at 8:24 pm
Posted on 5/7/19 at 8:23 pm to buckeye_vol
quote:
Yes. Many of those are just shell LLC’s that hold debt for his other business properties.
There's no way for you to know this, literally no way. At this point you're just spinning your wheels. Assumption after assumption. No one should take you seriously at this point.
Not that they do.
Posted on 5/7/19 at 8:23 pm to buckeye_vol
quote:
Yes. Many of those are just shell LLC’s that hold debt for his other business properties. But hey if I hold 999 LLCs that have $999 combined in assets, but go bankrupt and lose everything in the 1 LLC that has $10,000,999 in it, I may have lost $10,000,000, but only 0.1% of my businesses went bankrup
Is that your personal assessment of Trump's businesses?
Posted on 5/7/19 at 8:25 pm to Rex Feral
quote:Well considering it’s not a complete record of the returns, sure. But given that all of his business income, deductions, etc., appears to be filed on his individual return (basically a sole proprietor), it would be a lot more informative than most.
Exactly my point that you can only rly on the NYT’s interpretation of a tax return. There’s a lot more to a family business’ taxes than one shareholder’s 20 year old tax returns.
Posted on 5/7/19 at 8:25 pm to GRTiger
quote:
Never saw that 512 number
Forbes had an article on the number in 2016. I'll see if I can find it.
Posted on 5/7/19 at 8:26 pm to buckeye_vol
quote:
But given that all of his business income, deductions, etc., appears to be filed on his individual return (basically a sole proprietor)
Wait. I haven’t seen the returns. Are you saying trump was a sole proprietor of his entities in the 80s? That would surprise me. It also is in direct conflict with your shell LLC theory.
This post was edited on 5/7/19 at 8:28 pm
Posted on 5/7/19 at 8:27 pm to GRTiger
quote:No. That’s just showing an extreme example of how Trump’s 512 LLCs are structured. A few are going to account for the majority of his empire, and some have no assets or incomes whatsoever and are actually just holding debt on some of his partially owned buildings as was reported a few years back.
Is that your personal assessment of Trump's businesses?
Posted on 5/7/19 at 8:28 pm to BBONDS25
quote:I mean he didn’t appear to file as a C-Corp so I’m guess it was something like an S-Corp filing, although it may be more complex than that.
Wait. I haven’t seen the returns. Are you saying trump was a sole proprietor of his entities in the 80s? That would surprise me.
Posted on 5/7/19 at 8:28 pm to buckeye_vol
quote:
That’s just showing an extreme example of how Trump’s 512 LLCs are structured. A few are going to account for the majority of his empire, and some have no assets or incomes whatsoever and are actually just holding debt on some of his partially owned buildings as was reported a few years back.
Are they disregarded entities? Where are you getting this info?
Posted on 5/7/19 at 8:29 pm to buckeye_vol
quote:
mean he didn’t appear to file as a C-Corp so I’m guess it was something like an S-Corp filing, although it may be more complex than that.
An s Corp is not a sole proprietor and an s Corp files it’s own returns and issues a K1 to its shareholders.
The VAST majority of entities in this company are not C corps.
This post was edited on 5/7/19 at 8:31 pm
Posted on 5/7/19 at 8:30 pm to BBONDS25
quote:I can’t remember the article, but it was about two of his highest debt properties (like $2 billion combined), that he shares ownership with some REIT. And he had something like 4 LLCs that are holding their debt, a lot of which is owed by the Bank of China.
Are they disregarded entities? Where are you getting this info?
Posted on 5/7/19 at 8:30 pm to Decatur
So the left will once again(this story line is old folks) tell us for the first time again that trump is a poor business man.
I hope the left will also crow about the gobs of obscene money made just days after leaving the White House by WJC and BHO. They can show Americans how millions can be made quickly and with almost no effort.
Who doesn't want to hear about that D!
I hope the left will also crow about the gobs of obscene money made just days after leaving the White House by WJC and BHO. They can show Americans how millions can be made quickly and with almost no effort.
Who doesn't want to hear about that D!
Posted on 5/7/19 at 8:31 pm to buckeye_vol
Did those LLCs go bankrupt? Not sure what the allegation here is. Single-entity doctrine etc would apply to a shell.
Posted on 5/7/19 at 8:32 pm to buckeye_vol
To be clear, you cannot rely on NYT's interpretation of his tax return. They did not see his tax return. They were given transcripts.
Posted on 5/7/19 at 8:33 pm to BBONDS25
quote:You’re right. I definitely don’t see it as a sole proprietorship.
An s Corp is not a sole proprietor and an s Corp files it’s own returns and issues a K1 to its shareholders.
But I just assumed it was an S-Corp with one shareholder since I believe he owns 100% of his organization, or at least did.
Posted on 5/7/19 at 8:34 pm to BBONDS25
quote:No. I don’t think there wasn’t any allegation of wrongdoing, just that those LLCs are solely holding debt. I think it speculated that it was to legally separate it from his other businesses, but I’m not sure.
Did those LLCs go bankrupt? Not sure what the allegation here is. Single-entity doctrine etc would apply to a shell.
Maybe “shell” is the wrong word, but it wasn’t anything nefarious.
This post was edited on 5/7/19 at 8:35 pm
Posted on 5/7/19 at 8:35 pm to goatmilker
Plenty of poor guys have personal 757's.
I'm picking up my 747 next week.
I'm picking up my 747 next week.
Posted on 5/7/19 at 8:36 pm to buckeye_vol
quote:
He may not even be worth a billion, although a hundred millionaire isn’t a bad status
Lol. Your ignorance is on full display in this thread.
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