Trump Tax Returns

Interesting how nobody here has posted anything about the tax return story published by the New York Times. I've waited a couple days to see if anyone has any comments on this situation.

Is anyone here concerned about who owns the $421,000,000 debt that Trump owes? Is anyone worried about who owns our President?

Is anyone here outraged that Trump paid his daughter a consultant fee when she was an employee of his business?

Are any of you concerned that he has gamed the system to avoid paying taxes? He has paid less taxes than most Americans.

I know that many of you will probably dismiss this as "anonymous sources," but let me just say that Trump could put this all to bed by publishing a single page of his 2016 and 2017 1040 form, showing his signature the amount of tax owed.

I did not see any need to comment on a non-story, Kookie. However, in that you posted:
"Are any of you concerned that he has gamed the system to avoid paying taxes? He has paid less taxes than most Americans."
Comment is warranted. Your terminology, "gamed the system" means what exactly? President Trump followed the tax code, all 62,000+ pages. If he had done something against the code the IRS which audits his return every year would have acted.
Are you envious of his tax advisors? Not knowing whether you simply work for an employer and get a salary or have your own business i can only offer generic advice. In the former case file electronically, in the latter, set up a Subchapter S corp, like Joe Biden did, and you can avoid Medicare taxes and FICA taxes to a large extent. All quite legal.
If you are wealthy then start a Non-Profit Corporation and put you children in the payroll of said Corporation, again avoiding taxes. For more information please contact the Clinton Foundation or Warren Buffett's several Foundations for advice. Then, as in the case of Buffett, you can grouse that you pay less taxes than your secetary.

My nickname is not "kookie." I've asked you to not use that before. Thanks in advance.

ramage wrote: I did not see any need to comment on a non-story, Kookie. However, in that you posted:
"Are any of you concerned that he has gamed the system to avoid paying taxes? He has paid less taxes than most Americans."
Comment is warranted. Your terminology, "gamed the system" means what exactly? President Trump followed the tax code, all 62,000+ pages. If he had done something against the code the IRS which audits his return every year would have acted.
Are you envious of his tax advisors? Not knowing whether you simply work for an employer and get a salary or have your own business i can only offer generic advice. In the former case file electronically, in the latter, set up a Subchapter S corp, like Joe Biden did, and you can avoid Medicare taxes and FICA taxes to a large extent. All quite legal.
If you are wealthy then start a Non-Profit Corporation and put you children in the payroll of said Corporation, again avoiding taxes. For more information please contact the Clinton Foundation or Warren Buffett's several Foundations for advice. Then, as in the case of Buffett, you can grouse that you pay less taxes than your secetary.

How is it a non-story. If it's not true, Trump can fix it by releasing his tax returns.

Are you not concerned that Ivanka received a hefty payment as a consultant while she was an employee? BTW, I'm pretty sure that is against the tax law.

Are you not concerned that he owes $421 million? If he's re-elected, don't you think his primary concern will be how to get out of debt prior to leaving office? He is compromised, and we don't know who is pulling the strings.

Please post your proof of these things. The New York Times has less credibility than the National Enquirer. Sorry, but they are liars and even seem to be in bed with team Biden considering the almost simultaneous release of this story and the Biden commercial about it. Ridiculous.

Pony Soldier wrote: Please post your proof of these things. The New York Times has less credibility than the National Enquirer. Sorry, but they are liars and even seem to be in bed with team Biden considering the almost simultaneous release of this story and the Biden commercial about it. Ridiculous.

Trump could bring this all to an end if he releases his tax returns. I'm certain that he won't do that, as that would prove the NYT truthful. It's a simple solution for him. If he doesn't refute it with his returns, then we can all assume that the NYT article is true.

Even if true, there’s nothing there. Why do you think it’s illegal to hire your own child?

Pony Soldier wrote: Even if true, there’s nothing there. Why do you think it’s illegal to hire your own child?

I did not say that. I understand that it is illegal to pay an employee also as a consultant. They were double dipping.

www.businessinsider.com.au/trump-paid-iv...tigation-says-2020-9

The tax filings The Times reviewed don’t name the consultants. But reporters matched the $US747,622 figure claimed by the Trump Organisation to the number Ivanka Trump reported in a financial disclosure when she joined the White House in 2017.

The Trump Organisation claimed that the payments were related to hotel projects in Vancouver and Hawaii, The Times reported. Ivanka Trump “had been an executive officer of the Trump companies that received profits from and paid the consulting fees for both projects,” meaning she appeared to be treated as a consultant on the same hotel deals she was already responsible for managing, the newspaper said.

Tax law allows employers to deduct consulting fees as a business expense, but IRS rules specify that to do so, the consulting arrangement must be an “ordinary and necessary” part of operating the business.

There are other news organizations reporting the same story.

Gosh, if the NY Times and the AP report it then it must be true. Impeach Trump now!

ramage wrote: Gosh, if the NY Times and the AP report it then it must be true. Impeach Trump now!

As I said, Trump could put this all to an end by releasing his tax returns, like he promised in 2016.