Trump’s Tax Information Leaked

WeToddDid2 · Sep 27, 2020

exGOPer said:
The New York Times obtained President Trump’s tax information “extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.”

“He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”

“As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.”

“The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.”
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https://nypost.com/2020/09/23/hunter-biden-received-3-5m-from-russian-billionaire-report/

Hunter Biden received $3.5M wire transfer from Russian billionaire: Senate report

FortuneTeller · Sep 27, 2020

WeToddDid2 said:
https://nypost.com/2020/09/23/hunter-biden-received-3-5m-from-russian-billionaire-report/

Hunter Biden received $3.5M wire transfer from Russian billionaire: Senate report
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Hunter is involved in both China and Russia. He is a well rounded criminal.

WeToddDid2 · Sep 27, 2020

exGOPer said:
The New York Times obtained President Trump’s tax information “extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.”

“He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”

“As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.”

“The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.”
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Fake News

WeToddDid2 · Sep 27, 2020

Spike Trader said:
''I don't know Felix Sater.'' he said . . . . under oath.

New book details the way Russians funneled money through Trump’s real estate empire using a money laundering middleman

In a new book, investigative reporter Tom Burgis details the shocking ways in which corrupt leaders used Russian “businessman” Felix Sater to conduct sketchy deals, including ones for President Donald Trump.

According to the Daily Beast, Kleptopia: How Dirty Money is Conquering the World reports the “terrifying” and true tale of overwhelming corruption, “clandestinely fusing their business interests, and forming alliances.”

https://www.thedailybeast.com/the-k...g-middleman-who-did-deals-with-trump?ref=home
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Disinformation and fake news!!!

VEGASDESERT · Sep 27, 2020

Nobody gives a shit about Trump's business acumen whether or not he lost money every single year of his life it means nothing, he has a compound in Florida and a penthouse in New York that'll be there when he's done politics.

New York times doesn't seem to comprehend that.

WeToddDid2 · Sep 27, 2020

What the readers of the NYT disinformation article don't understand are NOLs and depreciation.

Cuddles · Sep 27, 2020

VEGASDESERT said:
Nobody gives a shit about Trump's business acumen whether or not he lost money every single year of his life it means nothing, he has a compound in Florida and a penthouse in New York that'll be there when he's done politics.

New York times doesn't seem to comprehend that.
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tax returns actually show he's broke. Only property making money is his pay for play Mar-a-Lago

VEGASDESERT · Sep 27, 2020

Here4money said:
tax returns actually show he's broke
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Lol, if he's broke then I can't even begin to imagine how awful I have it.

newwurldmn · Sep 27, 2020

Amun Ra said:
Don't hate the player, hate the game.

This is how it works. You can depreciate commercial & residential real estate over 39 and 27.5 years.

So lets say you build a giant residential skyscraper which costs $500m. This lets you deduct $18.1 million off profits you made each year you own the building. So lets say after 10 years you sell the property for $700m. You now owe $200m in capital gains + $181m in depreciation recapture for a total of $381m in taxes owed.

But you can defer this with a 1031 exchange if you buy another building of equal or greater value.

This is all normal well known real estate law. It's not like Trump did a secret deal and hid money in the caymens. Nothing nefarious here.

And Trump owns billions of dollars in commercial real estate real estate. If Trump owns $10 billion in real estate, then Trump could make $256m-$363m in profits in all his business and still not pay taxes. It doesn't mean he's losing money.
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Read the article. They account for this very basic and well understood principle.

newwurldmn · Sep 27, 2020

Here4money said:
tax returns actually show he's broke. Only property making money is his pay for play Mar-a-Lago
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And his stakes in properties managed by others.
And that time Putin’s ally bailed him out during the Miss Universe pageant.