Maybe Trump Did Cheat

a reply to: Vector99

He got 4.8 million for 'services' and in 96 a 3 million dollar loan 'forgiven' instead. Where's the service money?

Did the stock do better in '96? No. Kept plummeting. Did he get a Bonus? Yes. The stock never recovered, and he got 20 million in Bonuses in 10 years, despite this.

originally posted by: imjack
a reply to: Vector99
Did he get a Bonus? Yes. The stock never recovered, and he got 20 million in Bonuses in 10 years, despite this.

Because he is so FREAKISHLY good at this stuff, you wouldn't believe it. So good! The best. He is so good at this stuff, he is best.

Even I will vote for him, because he is just so GOOD at stuff, his perfectness radiating over the oceans. I have to become him.

Maybe, if I ask for a locket of his hair? Would I become so GOOD, too?


Hell, Trump is just too easy. Clinton is a despicable robot, but Trump is just a big bully with lots of potential targets all over.

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.

Most people, including me, don't care about Trump's taxes...

a reply to: TheKnightofDoom

The accountant is not going to be liable.

The tax preparer is responsible for correctly filling out the forms via tax code requirements. The individual is responsible for providing the tax preparer accurate documentation. That is why both signatures are required when having your taxes prepared by someone else.

a reply to: CynConcepts

The preparer isn't going to owe the back taxes. Would be convenient.

originally posted by: Iscool
Most people, including me, don't care about Trump's taxes...

Not true...

CNN/ORC Poll

Nearly all registered voters surveyed -- 86% -- say they see paying taxes as every American's civic duty
...
The poll also found that 73% of registered voters surveyed think Trump should release his tax returns for public review, including about half of Republicans at 49%.

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?

as best I can tell..It's through defrauding banks.

For example, he owes 500M to Deutsche Bank, because US banks stopped dealing with him. Same reason he is in bed with Russian oligarchs.

His nearly 1B "loss" he declared to get out of paying taxes for eternity?

It exploited a loop-hole that allowed real estate developers to declare as "loss" money that they borrowed and lost.

So with his casino's ...he borrowed 98%...lets say he puts up 4M and borrows 200M from banks and investors to build the casino. He pays himself lavishly, far in excess of what he put up, even while the casino is failing, then declares bankruptcy and gets out of paying back the 200M he borrowed.

BUT tax laws allow him to claim the whole 204M as a loss, even though 200M of it was money he borrowed and didn't pay back due to bankruptcy.

Rinse and repeat. His 1B dollar loss was not his money lost to begin with, it was the banks.

Tax evasion, exploiting the bankruptcy laws repeatedly etc. is how he lives a lavish lifestyle. Right now I strongly suspect he is poised for his next bankruptcy...he owes ungodly amounts of money and he has inflated his net worth claims.

originally posted by: roadgravel
a reply to: CynConcepts

The preparer isn't going to owe the back taxes. Would be convenient.

I was stating that if any fines are levied due to inaccurate reporting, if it is determined that all the proper documentation was provided but the tax preparer made an error...they would be paying the fine not the individual. Any taxes owed will be paid by the individual just as they would have done if the error had not occurred.

One thing is for sure, Trump was and is very wise to just ride out the storm on this Tax Return issue.

Due to the complexity of his raw yearly returns, the complex interrelations between items that can carry over from year to year - and the utterly simplistic guesswork that is being done based on the leak of a few pages from his return for one year - and the inssessant nattering going on, based on these speculations, by the MSM and Monday-morning pseudo-accountants in chat rooms - Trump would have to be a moron to open this up prior to November 8.

For example, it has been revealed that in 1995, Trump had a reported loss of over $900 million. So, from this, it was then (somehow) assumed that Trump "maybe" didn't pay Federal Taxes for the next 18 years (why this number of years was picked as the flog pole is anybody's guess). In the MSM and elsewhere, this became some kind of expression of the truth...and then the hammering began.

And, even if perfectly legal, and even if (as is the case) the New York Times, Warren Buffett and Hillary Clinton herself used similar carry-forward provisions to shelter future income - it became seemingly morally wrong for Donald Trump to use the same Tax Code provisions.

To top it all off...this same speculation was then used in an attempt to skewer Trump at the VP Debate, about 9/11 of all things. Kaine tried to claim, because (maybe) Trump wasn't required to pay Federal Taxes for a few years after 9/11, that he "didn't support the troops, didn't support the first responders", he just took care of himself, etc., etc.

Yup...Trump should just go ahead and release his Tax Returns, so that the crossed-eyed hounds from the left can spend the next 4 weeks in ultra deflection mode, about Trump's legal tax treatments (look over here...what email server scandal? what Clinton Foundation scam? what failed Foreign Policies? what corruption?)

originally posted by: LesMisanthrope
a reply to: Phage

That is his tax return, which was published illegally.

I'm not sure if he understood it or not. The guy worked for the Trump's since the 60s. Maybe he trusted him, though I'm not much of a mind reader.

Whether he understood it or not, he's culpable for it.

originally posted by: Greggers

originally posted by: LesMisanthrope
a reply to: Phage

That is his tax return, which was published illegally.

I'm not sure if he understood it or not. The guy worked for the Trump's since the 60s. Maybe he trusted him, though I'm not much of a mind reader.

Whether he understood it or not, he's culpable for it.

As other posters have tried to explain, it is the taxpayer's responsibility to provide true, complete and accurate source documents to their professional tax return preparer.

If he/she has discharged this duty, then if there are any mistakes in the tax return it is the responsibility of the tax professional - not the taxpayer. If you use a professional to prepare your return, you are not "culpable" for errors, any more than you are culpable if your lawyer makes a legal error in presenting your case to a judge.

And anyway, who said there is anything wrong with the (illegally obtained) tax return in question?

a reply to: imjack

What does any of that have to do with his salary in 1995? Also, as I said before, and you can look it up if you like here, he didn't receive a bonus in '95. He DID get a $583k SALARY though.

Amazingly, nobody really cares that Hillary basically used the same loopholes to avoid paying taxes as well. Kind of the pot calling the kettle black here.

originally posted by: Zerodoublehero
Hey if he didnt "intend" to do anything illegal its all good.

That made me laugh.... my sentiments exactly.


If they can not prove he had intent to cheat when filing taxes, then he gets a free Hillary pass.

Signed the tax forms proves intent? Nay nay says the person who knows Hillary signed her SF-312 and still got away with gross negligence in the handling of classified materials.


I need to see 100% positive proof that Donald Trump intended to cheat on his tax forms.

And of course, several people will need immunity.... the lawyers who gave him tax advice, the accountant who prepared the taxes, the person who mailed the taxes, the IRS person who processed the taxes.....

EDIT: Oh yeah.... don't forget to wipe the computer used to prepare the taxes before turning it over in a couple of years.

originally posted by: Gazrok
Amazingly, nobody really cares that Hillary basically used the same loopholes to avoid paying taxes as well. Kind of the pot calling the kettle black here.

Where?

a reply to: mobiusmale

Warren Buffett and Hillary Clinton herself used similar carry-forward provisions to shelter future income -

I don't know about Buffet but if you're talking about Clinton's $655K long term capital loss you are incorrect.

Only $3,000 of it per year, if it exceed her capital gains. It will save her about $600 per year at the most. She won't live to "shelter" the loss.

originally posted by: Gazrok
Amazingly, nobody really cares that Hillary basically used the same loopholes to avoid paying taxes as well.

If you're talking about her long term capital loss, false. If not, what are you talking about? She paid $3.6 million in taxes in 2015.

If you looked at her tax returns you might know that. You can look at her tax returns, you know.

Too bad we can't look at Donald's.

a reply to: roadgravel

So just Trump?.

I can only imagine the outcry If Clinton had not paid taxes...some are saying they don't care If Trump pays I bet they would If Clinton did not.

a reply to: mobiusmale

And anyway, who said there is anything wrong with the (illegally obtained) tax return in question?

Did you read the OP?
There seems to be something very wrong with the tax return.