Maybe Trump Did Cheat

a reply to: LesMisanthrope

That is his tax return, which was published illegally.

Yes. And it seems to understate his personal wages for 1995 quite dramatically. Subsequent returns might clarify things.

a reply to: Phage

I suppose his accountant should be worried.

a reply to: LesMisanthrope

Ah. Blame your underlings. Good plan.

But Donald's signature is on the returns. Isn't it?

originally posted by: Phage
One of my concerns about Trump's tax return that occured to me soon after it was leaked was, if he lost so much money how could he lead the lavish lifestyle he does?

I came across an interesting article:

Trump's Tax Records Show He May Have Understated His Salary by Millions to the IRS

It doesn’t seem to add up. Just one example of where Trump’s tax returns seem to conflict with reality: the Republican presidential candidate told the IRS and New York state tax officials that he collected a mere $6,108 in “wages, salaries, tips, etc.” in 1995. Yet, according to financial reports filed with the Securities and Exchange Commission, that same year Trump received $583,333 in compensation from the then-named Trump Hotels & Casino Resorts, the company Trump had taken public in the middle of that year. The figure comes from a proxy statement that the company filed in early 1996. The payment is clearly listed as salary for 1995, and it appears to have been paid directly from the company to Trump, and not through one of the corporate entities he controls.

fortune.com...


Come on Donald. Let's see your tax returns. Ease our worried minds.

"Wages" are but one form of "compensation".

It is possible to receive only $6K in wages while living the high life if the compensation you receive include a luxury apartment available for use by "company officers" (but really it's just for you), a corporate jet at your disposal for "official" use, and so on.

And different forms of compensation are subject to different rules and levels of taxation at the personal tax level.

C'est la vie de le Wealthy!

a reply to: Phage

Take the hit for something you didn't do. Genius.

a reply to: LesMisanthrope

It won't work. Bonehead.

a reply to: Bhadhidar

The point is, a substantial amount was paid as salary, according to the SEC filing. It doesn't show on the 1995 return.

a reply to: Phage

But Donald's signature is on the returns. Isn't it? edit on 10/4/2016 by Phage because: (no reason given)

So was Marla Maple's.

He won't release them because he is probably carried that NOL forward quite a few years or had others. Perfectly legal, but will be spun to claim he is using loop holes to not pay taxes.

There is absolutely nothing positive that can come from Trump releasing his tax returns. The whole politician's releasing tax returns is designed to protect career politicians who generally have relatively uncomplicated returns from being challenged by private citizens, particularly those who have been very successful from running for office.

When you are a private citizen, you do things to minimize your tax liability. When you are a politician, you are thinking about how things can be spun and do things under that optic.

a reply to: Edumakated

He won't release them because he is probably carried that NOL forward quite a few years or had others.

That is not really the issue here. Nor is a reason to not release the returns.

a reply to: Phage

All of Hillary's crimes and you are worried about some rich guy not paying enough taxes? I am more concerned with the Clinton's death toll than some possible tax evasion.

a reply to: Metallicus

It is a legitimate question. But it makes me want to hire Trump's accountant more than anything else.

a reply to: Phage

A business losing money doesn't always mean you are personally broke. Income is not the same thing as assets. You can have very little income but still have a lot of assets. His lifestyle may or may not have taken a hit during bad years. No way to know.

I'm sure the IRS is on it with their audit though if he claimed too little in income.

originally posted by: Phage
a reply to: LesMisanthrope

I suppose he could hire accountants to double-check his accountants, but that seems like overkill.

So, he just signs stuff without understanding it? He's not brilliant?

As most amaricans do with HR block. They have no clue what there signing they just know if they have to pay or her money back

a reply to: Edumakated

You can have very little income but still have a lot of assets. His lifestyle may or may not have taken a hit during bad years. No way to know.

A 1995 SEC filing specifies that Trump received a salary of $583,333. The tax return says he received $6,108 dollars.

I'm sure the IRS is on it with their audit though if he claimed too little in income.

Maybe, maybe not. The IRS can be a pain in the ass but they are not omniscient.

originally posted by: Phage
a reply to: LesMisanthrope

Hard to tell for sure without seeing his tax returns. There seem to be some peculiarities that could be easily resolved.

I suppose he could hire accountants to double-check his accountants, but that seems like overkill.

He doesn't understand what he signed?

None of the tax returns I've read that have been released include receipts and the other information needed to really audit them. Has just been the line item totals. Isn't that standard? I can't tell where the itemized deductions and losses in the Clinton release come from. I can tell you she reduces many magnitudes more in itemized deductions than the average American family takes home in a year. Not picking on her, but her returns are the ones I've seen. Not surprising really. She's very wealthy.

No matter what he releases, as was with the leak, people who are against him will make false claims. I've seen two or three titles just on ATS that imply he broke the law based on no proof.

If I were in the situation I would release returns, but I'm not. It's certainly keeping him in a lot of news. I'm not sure anybody that is concerned about this would change their mind... even if he had given every dime to the Clinton Foundation. It's a no win.

a reply to: dragonridr

They have no clue what there signing

You mean laws, and treaties, and stuff?

a reply to: Ksihkehe

No matter what he releases, as was with the leak, people who are against him will make false claims.

The tax return is fake? The SEC filing was false?

originally posted by: Phage
a reply to: smurfy

Should be.
Is it? We may never know.

Trump Plaza [casinos] Atlantic city, he is supposed to have a 27 percentage there circa 2015, yet the Trump name was removed in 2014. The Atlantic city thing was one of the bankruptcy C11 deals, but in 2004.
his last bankruptcy was 2009..Trump Entertainment Resorts -- formerly Trump Hotels and Casinos Resorts, (not sure if that includes Trump Plaza [casinos] Atlantic city) was a recessionary event, but still there was a 10% holding by Trump with the Trump name. He is not alone in the bankruptcy game with big namers, but maybe it's the plethora of deals done with the IRS that makes him stick out. Certainly there was license given in the realm of jobs for employees.
a PAYE person has no such preferences, a small employer is almost always shat upon.

There is that line

Wages, salaries, tips, etc. Attach Form(s) W-2