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re: Did Trump do something illegal with his taxes?
Posted on 9/27/20 at 8:31 pm to TigerCruise
Posted on 9/27/20 at 8:31 pm to TigerCruise
No but the point is that he didn't and it illustrates how broken the tax system is
1
Posted on 9/27/20 at 8:33 pm to mwade91383
quote:
Nope. Just absolutely sucks at business, which we knew all along.
Unlike this ^^^ baller.
Posted on 9/27/20 at 8:35 pm to TigerCruise
This is the grab em by the p revelation of 2020, but even less damning. Nobody is buying this shite. Let's audit ALL politicians and their immediate family.
Trump wins 2020 in a landslide and these swamp creatures get their due.
Trump wins 2020 in a landslide and these swamp creatures get their due.
This post was edited on 9/27/20 at 8:39 pm
Posted on 9/27/20 at 8:36 pm to Taxing Authority
quote:You can depreciate assets on a financial basis differently than you do for your income tax basis. The difference between the two will create a deferred tax asset/liability. When done so to create a liability you do in fact depreciate the asset without fully paying the taxes on it. This is common when you use MACRS(which is common with property), and makes income look higher in the current year.
But as business owner I know you don’t get to claim depreciation without writing the check for the cash in previous years.
Posted on 9/27/20 at 8:38 pm to LSU2019
quote:Math has absolutely nothing to do with understanding the complexity of the US tax code.
yeah you need to be a real mathgician to know that 156,000 is more than 750, its totally normal that you think this mystery takes outside help
Posted on 9/27/20 at 8:38 pm to cahoots
quote:
It’s more than just having a good accountant. It’s political.
100% False. The tax code is the tax code.
quote:
I don’t know the deets of trumps first hotel deal but he was extremely young. I don’t care how smart someone is. 99.9% of us can’t buy a hotel at that age. You need lots of capital and connections to even think about it. I’m pretty sure his dad co-signed You can’t graduate business school and then get a loan to buy an entire hotel
Why does this matter at all?
Posted on 9/27/20 at 8:43 pm to BigoBoys
quote:
We'll see. I know a guy that every time we went out to dinner he wrote it off as a business expense. He also wrote every vacation and his golf off. I told him once if asked did we discuss business during any of those I would tell the truth, no we did not.
That dude is shaking in his boots.
Posted on 9/27/20 at 8:49 pm to mwade91383
he has more money than you do, so keep running that mouth ! lol
Posted on 9/27/20 at 8:52 pm to oklahogjr
quote:It does no such thing. What it does illustrate is how little most Americans know about who and how taxes are actually paid.
No but the point is that he didn't and it illustrates how broken the tax system is
This post was edited on 9/27/20 at 8:53 pm
Posted on 9/27/20 at 8:56 pm to Taxing Authority
quote:
What it does illustrate is how little most Americans know about who and how taxes are actually paid.
It’s mind boggling. These threads are comical but also really sad.
Posted on 9/27/20 at 9:07 pm to Bayou_Tiger_225
quote:While that's all fine and dandy but it’s still just a time shift. You either overpay before, or don’t incur liability later.
you do in fact depreciate the asset without fully paying the taxes on it
This post was edited on 9/27/20 at 9:08 pm
Posted on 9/27/20 at 9:07 pm to LSU2019
quote:
If he was telling banks he was making millions so he could get loans, while telling the IRS he was losing millions to lower his taxes, then yes, these are very major felonies.
Every business in Americ keeps two sets of books, one for financiL and one for taxes. It is very possible to show a loss in one set and a profit in the other due to differing rules about how items are depreciated, assets are capitalized, accrus and numerous other rule differences.
Posted on 9/27/20 at 9:08 pm to TigerCruise
yes, he did
Posted on 9/27/20 at 9:14 pm to LSU2019
quote:
If he was telling banks he was making millions so he could get loans, while telling the IRS he was losing millions to lower his taxes, then yes, these are very major felonies.
You know very little about taxes and seemingly even less about what it takes to get a business loan.
This post was edited on 9/27/20 at 9:24 pm
Posted on 9/27/20 at 9:15 pm to TigerCruise
quote:
If not, what the frick is the big deal?
If the failing NYT didn't put this "bombshell" of a story behind their paywall or "free registration," I might actually read it.
Want me to read your propaganda, NYT? Don't make me register.
Posted on 9/27/20 at 9:15 pm to Rony Seikaly
If he paid no taxes, the individuals in Congress who are bitching and complaining are who passed the law that allowed it to happen.
Posted on 9/27/20 at 9:16 pm to TigerCruise
I think some are just shocked that such a successful businessman isn’t successful enough to pay taxes
Posted on 9/27/20 at 9:16 pm to KingOrange
And that's okay? You're okay with Amazon and Apple not paying taxes?
Posted on 9/27/20 at 9:24 pm to icheerforgeorgia
quote:
And that's okay? You're okay with Amazon and Apple not paying taxes?
48% of taxpayers net net pay zero income tax. Let's throw those people into the equation too. Are you OK with them?
Posted on 9/27/20 at 9:24 pm to tmjones2
quote:Even more shocking... there are people that think having a small tax liability while donating your entire salary indicates anything about ones business acumen.
I think some are just shocked that such a successful businessman isn’t successful enough to pay taxes
This post was edited on 9/27/20 at 9:25 pm
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