Tax firm Mazars fires Trump Organization as client, says former president’s financial statements are unreliable

[hog88]

I dont know what the DA is alleging. But if he indicated a subjective value of $100 million on a application with a bank but turned around and claimed same said property was worth $100 to the local tax authority then yes. Claiming a loss was poor choice of words. Like I said I believe every millionaire and billionaire does the same thing. If you aren't trying to reduce the taxes you pay you are doing it wrong. The key is to find the gray areas, this is where the profits are made. Id suspect Trump and more so his high paid attorneys to find such areas.

The value of a commercial property includes its potential revenue, that figure is taken into account for financing purposes. Potential revenue isn’t a factor in determining worth when it comes to setting property tax amounts. So there is no fraud in that

 

[DC_Vol]

The value of a commercial property includes its potential revenue, that figure is taken into account for financing purposes. Potential revenue isn’t a factor in determining worth when it comes to setting property tax amounts. So there is no fraud in that

This is another bullet point in a long list of schemes to smear Donald Trump. They know damn well this isn’t going to go anywhere. But they also know the media and their poor ignorant sheep will run with the talking points without asking any questions. Reference the OP.

It’s going to end up being another whiff, but the damage will be already be done by the press.
Ironically, like the Mazars firm, the press don’t their job either. They just take the information given to them, insert it into their anti Trump template, and publish. No due diligence. No verifying of information. No intelligent questions.

 

[Dergibvol]

You're all over the map. So the crime has nothing to do with taxes?

If so, the only people who could reasonably be seen as victims of this crime are the banks themselves. Are those banks going after trump for misrepresenting his assets? If not, why should the AG of NY?

I dont know what the AG has. Im guessing what they might have. If he inflated his assets for financial gain he committed a crime. If he then went to the taxing authority and claimed same said asset was worth half of what he just put on a bank statement hes going to have a tough time. I dont know what he did or didn't do. With what Mazars put out all any of us can do is play hypotheticals.

 

[luthervol]

Nope

yep

 

[Dergibvol]

Does that apply to the millions of deadbeats that sign a piece of paper saying they will pay back a loan and then don't?

if the information submitted was known to be false it sure does.

 

[hog88]

I dont know what the AG has. Im guessing what they might have. If he inflated his assets for financial gain he committed a crime. If he then went to the taxing authority and claimed same said asset was worth half of what he just put on a bank statement hes going to have a tough time. I dont know what he did or didn't do. With what Mazars put out all any of us can do is play hypotheticals.

That’s not the way it works.

 

[DC_Vol]

That’s not the way it works.

You mean you haven’t driven down to the assessor’s office and instructed them on what your business property is worth??

 

[Volaholic320]

I’d say an immense amount of pressure and several deals made for them to make an announcement like that.[/Braxton?
If a gov can spy on a sitting president

The mafia goes after friends relatives, associates.

 

[hog88]

You mean you haven’t driven down to the assessor’s office and instructed them on what your business property is worth??

If only I could.

 

[Dergibvol]

The value of a commercial property includes its potential revenue, that figure is taken into account for financing purposes. Potential revenue isn’t a factor in determining worth when it comes to setting property tax amounts. So there is no fraud in that

Right. All he has to be able to do is explain the variances which any decent business person would be able to do. Here's how I arrived at my number with the data I used. Typically thats what an auditor woudl do. Saying you pulled a number out and claiming its subjective will cause nothing but headaches. If the DA brings a measly misdemeanor they should riot as the cost of this thing has to be astronomical. The bigger question should also be why is this an issue now but not 10 years ago?

 

[Dergibvol]

That’s not the way it works.

Commercial property where I am can be challenged by determining the true cash value of the property. That value is then devided roughly in half to arrive at an assessed value. Is it different where you are?

 

[Dergibvol]

The value of a commercial property includes its potential revenue, that figure is taken into account for financing purposes. Potential revenue isn’t a factor in determining worth when it comes to setting property tax amounts. So there is no fraud in that

Well said. I wasn't think of that on the bank side. I deal with mostly residential properties.

 

[VolStrom]

If only I could.

You obviously don't adhere to the greasy palm doctrine of your county's elites, and let's face it, greasy palms are in every county.

 

[hog88]

Right. All he has to be able to do is explain the variances which any decent business person would be able to do. Here's how I arrived at my number with the data I used. Typically thats what an auditor woudl do. Saying you pulled a number out and claiming its subjective will cause nothing but headaches. If the DA brings a measly misdemeanor they should riot as the cost of this thing has to be astronomical. The bigger question should also be why is this an issue now but not 10 years ago?

Explain what variances? Tax appraisal value and loan appraisal value for commercial revenue generating property are two entirely different things.

 

[hog88]

You obviously don't adhere to the greasy palm doctrine of your county's elites, and let's face it, greasy palms are in every county.

I am not in the GOBN.

 

[VolStrom]

I am not in the GOBN.

I had to google that and the only thing that came back was "Greater Orlando Business Network".

 

[Dergibvol]

Explain what variances? Tax appraisal value and loan appraisal value for commercial revenue generating property are two entirely different things.

Man yall are on it. Variances meaning valuations. Explain how each was arrived at.

 

[hog88]

I had to google that and the only thing that came back was "Greater Orlando Business Network".

Good Ol Boy Network

 

[hog88]

Man yall are on it. Variances meaning valuations. Explain how each was arrived at.

The taxpayer doesn't explain how the valuation was arrived at unless they are disputing the assessment. There is a set formula to figure the cap rate of a commercial property.

 

[VolStrom]

Good Ol Boy Network

I was always too honest to fit into the Good Ole Boy Network myself. In my entire life I always witnessed a bevy of cliques that suck each other off whether they are Christian or cultural or buddies from elementary school and the one thing they have in common is lying to help one another. Good for you for not joining them.

 

[hog88]

I was always too honest to fit into the Good Ole Boy Network myself. In my entire life I always witnessed a bevy of cliques that suck each other off whether they are Christian or cultural or buddies from elementary school and the one thing they have in common is lying to help one another. Good for you for not joining them.

In all honesty I have never been invited.. If you ain't from Gallatin you ain't ever going to be from Gallatin.

 

[MontyPython]

This is another bullet point in a long list of schemes to smear Donald Trump. They know damn well this isn’t going to go anywhere. But they also know the media and their poor ignorant sheep will run with the talking points without asking any questions. Reference the OP.

It’s going to end up being another whiff, but the damage will be already be done by the press.
Ironically, like the Mazars firm, the press don’t their job either. They just take the information given to them, insert it into their anti Trump template, and publish. No due diligence. No verifying of information. No intelligent questions.

Dumb Donald finally gonna pay the piper?

We shall see.

Funny watching the short bus crew defend him along the way tho.

 

[hog88]

Dumb Donald finally gonna pay the piper?

We shall see.

Funny watching the short bus crew defend him along the way tho.

I don't see anyone defending Trump. I see people pointing out malicious actions by a prosecutor with an agenda, everyone should condemn that.

 

[MontyPython]

I don't see anyone defending Trump. I see people pointing out malicious actions by a prosecutor with an agenda, everyone should condemn that.

Heh. So of he's innocent, Trump's juror of his peers will find him innocent.

/endthread

 

[hog88]

Heh. So of he's innocent, Trump's juror of his peers will find him innocent.

/endthread

I highly doubt he will ever be charged. The DA is getting what she wants and that is publicity and ignorant mouth-breathers making comparisons between property tax/mortgage valuations between their house and commercial real estate.