Trump Tax Returns released; Reveals the president paid no income tax for 10 years

I can think of TONS of sources who would have to maintain privacy for legal reasons

Such as breaking the law? Slippery slope in giving a pass to illegal acts. Was a bribe involved? This could undermines any confidence in everyone else's privacy in their tax filings. This is not a "whistle blower" issue this could very well be a legit criminal action. Just because you approve of the subject of this leak does not make it permissible. Actually it shows huge short-sightedness on the part of the leaker, it wouldn't be the first time the "get the republicans" attitude of the left would sow the seeds of their own future problems. Nuclear option anyone?

a reply to: Southern Guardian

Just revealed. This New York Times story is a repeat of what they ran on October 1st 2016.

a reply to: Southern Guardian


" Nolte: New York Times Counts on Public Ignorance to Push Trump Tax Nothingburger "


" The far-left New York Times claims it obtained copies of President Trump’s tax returns and is counting on ignorance to turn its nothingburger into some kind of scandal.

The only real news in the returns is how they debunk three media conspiracy theories. Although the Times hides the news as though it doesn’t matter, and despite years and years of the media floating the idea, we now know there’s nothing about Russia in Trump’s tax returns. No secret loans. No oligarch connections. No nothing.

Secondly, there’s no record of a secret payoff to Trump’s former attorney Michael Cohen that would suggest an illicit payment was made to porn star Stormy Daniels to cover up what she says was a one-night stand a dozen years ago. It’s not illegal to pay someone hush money. So this non-scandal has always baffled me. If anything, it’s illegal to blackmail someone for money, which is kinda what the porn star did, no?

Finally, Trump is in fact under audit, which means he’s been telling the truth for five years about that, about why he does not want to release his tax returns.

So, even though the tax returns basically debunk three hoaxes the fake media have been floating for years, the Times still pretends it has something other than a nothingburger with the amount of money Trump has paid in taxes over the years. "



I stand by my First Post that was Deleted , This Story was FAKE NEWS ...............







www.breitbart.com...

a reply to: Annee

You were given incorrect information. Although a part of the global Trump Hotels, the property is not owned, developed, nor does it contain property sold by Donald Trump, The Trump Organization, or any of their affiliates. The hotel's owner Irongate licenses the Trump name from Trump Marks Waikiki LLC.

In other words the hotel owner pays Trump to use his name and they supply him with materials needed to run a 4 star hotel. In other words they buy stuff from Trump international.

So does that make you feel better no conflict now.

Besides this is NORMAL in business, in fact he would be completely irresponsible as a business owner to not take advantage of these tax laws to benefit his company... let me shed some light on the subject because this very thing is what I actually do for a living, so I know this all too well and he has done zero criminal or ethical wrongdoing by utilizing these tax strategies to reduce his burden.

A couple terms we need to know:

Circular 230
CPA - certified public accountant
LLM - Master of Laws
JD - Juris Doctor

So circular 230 is a wonderful little law that was passed around the 2003 era, basically its a law that addresses who is legally entitled to practice tax law and to sum it up, basically the gov't says CPAs cannot practice tax law, they cannot give tax advice (in the sense you would expect), and they cannot use tax law as a practice. So what a CPA job really is to be an agent for the IRS and certify that a legal tax return was filed. That's it! That's why a CPA has no interest in reducing your tax burden, first of all they're an IRS agent, so they're technically on the hook for what's filed and they do not command enough tax knowledge to actually give that advice not to mention circular 230 bars them from even practicing. So that's the true role of a CPA.

Above a CPA you have two more levels of knowledge, LLM and JD. These guys per circular 230 are allowed to practice law, specifically if their area of specialization is taxation, tax law. The tax code is 80,000+ pages long, literally it is a volume of 11 or 12 books each of approximately several thousand pages, it is not a joke and no one person can know all of these laws, codes and tax regulations. So what typically happens on a typical tax strategy project, is you get several JDs and LLMs who all know thier own individual areas of the overall 80,000 pages of laws, you put them all together, combining those tax strategies, you will see an average reduction of 25-30% of your tax burden. This isn't illegal, its not unethical, it is simply taxing advantage of the law as it is written to pay the government exactly what you owe. Not a penny over, not a penny less.

So for Trump to see a $750 tax bill, he probably legally depreciated the assets as allowed by the IRS each year, the expenses and profit, all of those things were taken into account from every single angle, and those tax attorneys (JDs and LLMs) created a tax strategy that showed an owed tax of that amount and the CPA filed it. The IRS audited it and said yep its all above board and Trump got his taxes filed, just like any other American.

It truly is a big fake nothing burger. In fact is celebrated when say Amazon does it and pays a negative tax rate with its tax strategies, this is what moves economies and creates jobs and why the government wrote all those tax codes in the first place, to control and incentivize certain business activities that lead to the good of the whole.

originally posted by: dragonridr
a reply to: Annee

You were given incorrect information. Although a part of the global Trump Hotels, the property is not owned, developed, nor does it contain property sold by Donald Trump, The Trump Organization, or any of their affiliates. The hotel's owner Irongate licenses the Trump name from Trump Marks Waikiki LLC.

In other words the hotel owner pays Trump to use his name and they supply him with materials needed to run a 4 star hotel. In other words they buy stuff from Trump international.

So does that make you feel better no conflict now.

I dunno.

I don’t rely on one site for info.

Interesting coincidence how this story broke headlines just days after the Senate report on Biden and his son went out.

a reply to: av8r007

That was very informative, thx for the info. 👍

a reply to: mtnshredder

The Art Of Deception , The NYT Thinks they have Nailed It , but Alas , Their Sheet Does Stink ..........



www.youtube.com...

a reply to: Zanti Misfit

Zanti, your youtube link not working? Can't even click on it.

a reply to: Southern Guardian


Yeah .Censorship at YouTube is Still Alive..........


www.youtube.com...

a reply to: Zanti Misfit

Or maybe you just linked it incorrectly? Who knows.

It's working now, thanks.

originally posted by: LSU2018

Where's the proof that these are real? "According to an article in the NYT" doesn't cut it.

Lets say they are 100% real... One of the tax returns that MSNBC got said he paid like 38 million in taxes that year...So what if 11 out of the last 18 years he had zero or negative income, so on a good year he pays 38 million and on a bad year he pays none. So what if he paid zero for 10 years but 100s of millions total across 18?

The IRS has stated 1 millions times we want no one to pay more than they are legally obligated to pay, so if that obligation is zero because of a lot of factors then so be it. 50% of Americans actually make money off the Goverment while paying zero.

Instead of taking refunds in some years...Trump rolled that money forward to cover tax liability in future years.
The result is having to pay little or no taxes in those select years.

This is common and completely legal.

a reply to: Southern Guardian


Consider the " SOURCE "of this News from the NYT , Credibility is Non Existent .

a reply to: Zanti Misfit

You're questioning the credibility and bias of NYT.... while linking us to a youtube channel that frequently posts videos against the political left? That sounds a little hypocritical don't you think Zanti?

a reply to: Annee

Sounds like a mess, but all those politicians in DC have skeletons in the closet. So instead of focusing on the people we will listen to old men argue over who is the least corrupt tomorrow night I suppose, it’s a win for main stream media, I suppose.

originally posted by: Southern Guardian
a reply to: Zanti Misfit

You're questioning the credibility and bias of NYT.... while linking us to a youtube channel that frequently posts videos against the political left? That sounds a little hypocritical don't you think Zanti?

Conservative media doesn't hide it's bias and pretend it gives everyone a fair shake.

So. I finally read the NYT Trump tax story because I wanted to see what line was being reported for taxes owed and I came across this about the $750 in 2016 and 2017.

Per the NYT own story, Trump actually paid to the US Treasury $1 million in 2016 and $4.2 million in 2017.

THREAD:
threadreaderapp.com...
(bold mine)

a reply to: Annee

Charles Rettig, the Trump-appointed IRS Commissioner who has refused to release President Trump’s tax returns

You realize that the POTUS has constitutional rights, right?