Trump Tax Records Obtained by The Times Reveal

Once again Trump lovers are completely over the moon for Trump and his "money". Funny to know all of you are so easily led. I'll bet Trump could take a crap in the middle of your living rooms and you would still praise his form and speed.

a reply to: muse7

Some call this "tall poppy syndrome"

a reply to: Chadwickus
I like another version better. More visual maybe.
a'ama crab syndrome

But this ain't that.

a reply to: Phage

That's deep.

a reply to: Phage

so tell me if you would that you believe even half of americans would understand the convoluted nature of running 500 businesses and all that entails.


and then tell me again that Trump needs to convince me to believe he knows more than most people about the complexities of running an enterprise like his.

most people have to hire people to do their taxes if they want to itemize numerous deductions and most americans dont use more than the standard deductions at all if they are doing their own taxes.....that implies a very low level of understanding wouldnt you say?

so....to imply Trump isnt on a much higher level of understanding the complexities of business just because you dont like him is absurd and lacking any substance other than your opinion.....which we all know is like a part of the body

a reply to: jonsoup

as billionaires go Trump isnt that high on the list.....

people arent over the moon for trump because of his money.....if thats what you really think you dont understand anything about the appeal of trump or those who support him

originally posted by: Iamnotadoctor
a reply to: Nucleardoom
She's ahead in polls...
He's behind.

You mean those MSM polls, the same MSM caught in collusion with the Clinton campaign?

It can't be.

He wrote about this period of his business career in "The Art of the Comeback", giving a much better explanation about his debt, troubled airline and casinos, and a subsequent comeback, than the NYTimes could.

I bet Trump himself sent this tax document to the NYTimes.

The Art of the Comeback, Chapter 1

a reply to: tribal

so tell me if you would that you believe even half of americans would understand the convoluted nature of running 500 businesses and all that entails.

Yes.

and then tell me again that Trump needs to convince me to believe he knows more than most people about the complexities of running an enterprise like his.

I didn't say he needs to convince anyone. I said that he tells people what they want to hear.

most people have to hire people to do their taxes if they want to itemize numerous deductions and most americans dont use more than the standard deductions at all if they are doing their own taxes.

Does Donny do his own taxes? Does he use TurboTax? I do. And I itemize. It's not hard.
Why did his attorneys have to give him this letter then?
www.donaldjtrump.com...

to imply Trump isnt on a much higher level of understanding the complexities of business just because you dont like him

I didn't say that though. Did I?

a reply to: tribal

The loses reported were for his Personal income taxes, not any of his business interests.

With a portfolio of some 500 business entities, it is very likely that many of those companies are interconnected at a multitude of levels.

It is also very likely that profit and loss are shifted among those companies to best tax advantage.

Trump would be foolish not to take advantage of the existing tax laws if they weren't, right?

But what we have here are his personal taxes, not his business taxes.

And what is significant is that he was, for 1995 at least, bestowed a Personal NOL (Net Operating Loss) of almost $1 Billion; which the article claims could be leveraged to keep him from having to pay Any Personal, not business, income tax.

That doesn't mean that his personal income was actually zero, it might have even been "Yuge", it just means that, if he was able to manipulate his taxable personal income well enough, his NOL would offset that reportable income and leave him tax free.

And that says nothing of the perks and privileges he and his immediate family were/was likely afforded as owner/president/chairman/director/CEO/whatever of his various enterprises.

You can live very well on Other Peoples Money!

And you don't necessarily have to pay tax on the good life their money provides you.

And this is just one year, 1995!

Did he do this every year? Every few years?

A business must show a profit at least part of the time, for tax purposes, or the IRS won't consider it a business.

Not so with a person.

How can anyone believe that this guy is going to change any part of a system you claim to be corrupt to the core, when he stands to lose so much by making any changes that do not directly benefit his personal wealth?

In fact, much like setting a fox loose in a hen house,
wouldn't you consider him an idiot if he didn't use the opportunity of his position, should he be elected, to maximize his advantage...

To the disadvantage of the rest of us.

Wouldn't that just be "Good,smart Business"?

a reply to: Bhadhidar

But what we have here are his personal taxes, not his business taxes.

It would seem, according to his tax attorneys, that his personal and business taxes are pretty much one and the same.
www.donaldjtrump.com...

originally posted by: tribal
a reply to: Phage
so tell me if you would that you believe even half of Americans would understand the convoluted nature of running 500 businesses and all that entails.

originally posted by: Phage
a reply to: tribal Yes.

Are you starting some new ATS standup gig we weren't aware of because that's damn funny.

Half of all Americans understand how to run 500 businesses? I think you're being way beyond generous in your estimate there.

a reply to: Nucleardoom

Half of all Americans understand how to run 500 businesses? I think you're being way beyond generous in your estimate there.

Has Trump convinced you that you're too dumb to do so?

Running 500 businesses is not a whole lot different from running 1 business. It's more, but not more complex.

Unless you start shuffling money around between the for-profits and the non-profits. That can get tricky.

Businesses post losses, which they can use in subsequent years to reduce their income and pay less in taxes.

In real estate with properly structured 1031 exchanges, you can keep delaying capital gains on EVERY transaction as long as you keep buying bigger and more expensive properties each time. I'm almost 100% sure Trump has used that as well and.........it's perfectly legal as long as you follow all the very detailed rules.

I have clients on a much smaller scale do all of these things, especially with real estate, it's the smart way to do it as it allows you more money each purchase to buy even bigger properties than you could if you paid capital gains Tax each transaction.

With the right property and people helping you can even Accelerate depreciation on a property by using cost segregation. It can literally free up hundreds of thousands of dollars on a property if not more.

My point in all of this is, IT'S LEGAL and accepted business pratices that look so crazy that people think it's illegal. Anyone in that situation with proper Tax advisors would do similar things. If I could show you how to a LEGALLY free up an additional $150,000 to $300,000 on the building or renovation of a factory you owned, you seriously wouldn't take those breaks?

originally posted by: Phage
a reply to: Bhadhidar

But what we have here are his personal taxes, not his business taxes.

It would seem, according to his tax attorneys, that his personal and business taxes are pretty much one and the same.
www.donaldjtrump.com...

Then he hired idiots for attorneys.

"Co-mingling" business and personal funds, especially if we are talking about anything other than a sole proprietorship, is a Big No No with the IRS.

Admitting it is a fast track ticket to the Auditor's office for long an uncomfortable "chat".

Read that as a rectal exam with sharp nails and no lube!

a reply to: Phage

Come on Phage most Americans don't even have one business to run much less than 500.

If it were so easy wouldn't we all be running 500 companies?

a reply to: pavil

I don't see that any one has said it is illegal.

originally posted by: Nucleardoom
a reply to: Phage

Come on Phage most Americans don't even have one business to run much less than 500.

If it were so easy wouldn't we all be running 500 companies?

Because daddy didn't give us all millions of dollars?

a reply to: Bhadhidar

If the entity is a pass-through one, it most definitely would be on his personal taxes. It would depend on the type of business entity. A seperate Tax return would be done but the results would flow down to the individual on their 1040, either losses or gains.

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