re: Breaking: CNN reporting that 10 years of Trump’s tax returns have been given to the NYT.

Does it matter if he declared bankruptcy?
Does him having declared bankruptcy in the past change the robust economy we have right now?
Does it change the fact that we are finally taking on China and others for the unfair trade policies that have decimated our country for decades?
Please tell me how that somehow makes a difference?

I guess it's the next best thing to the made up Russian conspiracy fairy tale.

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You are a real estate investor. The differences between and investor and a professional are enormous and your entire post demonstrates you don’t know the difference.

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OK. I appreciate that you finally clarified your argument for me.

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‘Brilliant businessman’ my arse.

Celebutard-in-Chief is all he is, nothing more.

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In other words, the tax advantages aren’t enough alone to make it the surest investment.

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Qualitative word that’s no meaning. RE has distinct tax advantages that allow you to make a positive cash flow and show a loss for tax purposes with ease. Try that with...say equity in an S-Corp or common stocks.

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Tell that to the Hollywood accountants

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Go have a look at CA prop 13 and get back to me.

I'm disappointed buckeye vol hasn't come back and retracted his slanderous and unfounded accusation against the president after I clearly laid out why he didn't know what he was talking about.

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Try that with...say equity in an S-Corp or common stocks.

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I’ve been thinking about this today, and as a typical investment as part of one’s portfolio, I can the unique advantages. Specifically being able to actually depreciate the asset on taxes, plus being able to leverage debt on top of that, have some major advantages.

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RE has distinct tax advantages that allow you to make a positive cash flow and show a loss for tax purposes with ease

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Now noting those advantages above, I’m still struggling to see the enormous advantages, compared to other businesses in general.

Specifically it seems like depreciation (and similarly in other cases amortization), is the main reason for positive cash flow, but far lower or even negative returns. And Trump even tweeted about that today.

My issue is that the depreciation deductions still comes from an some outflow, whether the past, present, or future. I mean if I buy a $1,000,000 and out 20% down, just that $200,000 alone will take more than 5 years of depreciation to deduct that cost. And it’s even longer as the costs of payments going towards principal are accruing and part of that cost that depreciation is used towards.

And as it pertains to Trump, I can’t speak for the specific loan arrangements and depreciation methods of the 1980s (since I know changes were made in the 80’s). But nowadays, the vast majority of his loans are for 10 years, and rental properties use the 27.5 year MACRS schedule. So in that case, over the course of 10 years, he’ll only be able depreciation 36ish percent of the cost, but will have had to paid 100% of cost. That doesn’t seem as beneficial as a longer loan.

But regardless, since Trump was drowning in debt, having to receive tens of millions in bailouts from his father to avoid personal bankruptcy, taking out loans meant for operating costs of the casinos but using them to pay interest on previous loans, and finally, declaring bankruptcy on 3 of the casinos, it’s clear that those weren’t “paper losses,” and he was losing a lot of money. Not to mention, he still made 100’s of millions between wages, interest income, etc., on top of his business income and still had those losses and the bankruptcies.

And Trump’s tweet which tried to make it seem like this was the norm is interesting since his own father was still reporting tens of million in taxable income, while giving tens of millions to bailout his son, all while trying to find ways to pass as much off to his kids and avoid the inheritance tax (from that article a couple months ago).

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Again, is this Trump or his business?

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It’s all of his various income sources (businesses, stocks, wages, interest, etc.). But save for one year where he was paid a large salary as part of a business deal, and a few years of a lot of interest income, and stock gains (half of which he eventually lost, since people caught on to his pump and dump scheme), Trump’s business was/is Trump as the sole owner with an annual salary that is usually less than a million.

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This article is purposely misleading.

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It’s not misleading since it’s the way Trump organizes his business. It’s not really much (if any) different than anyone who is the sole owner of a small business out his own or even someone working as an independent contractor. Their business is their income, and it shows up on their individual tax returns.

Are you saying that Trump files a personal return that includes all of his businesses?

I know that is standard procedure for small time mom and pops and your self employed contractor, doctor, etc.

I figured an entity as large as Trump Organization would file corporate tax returns, that have nothing to do with Trump's individual returns.

Can you explain it like I am 5?

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Are you saying that Trump files a personal return that includes all of his businesses?

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Yes. All of his income shows up on a 1040 form.

Here is the one from 2005 that was released a year or two ago:

Trump’s 2005 1040

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I figured an entity as large as Trump Organization would file corporate tax returns, that have nothing to do with Trump's individual returns.

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Well he may file his business income as an S-Corp like many small businesses and self-employed individuals, but that shows up on personal returns. The other alternative is a C-Corp, but that seems more useful for companies with many shareholders and outside investors. But apparently the drawback with that is “double taxation,” (corporate and personal).

So I think it makes a lot of sense for Trump to file his business income on his personal returns. It may be unusually large in scale, but he’s essentially self-employed, well not including his current employment with the federal government. Here is a good summary of the differences between an S-Corp and C-Corp:

S-Corp v. C-Corp