Trump's Taxes

[Septic]

I don't support a candidate because of me feelings and I certainly don't support a candidate based on their feelings. I am not a child.

Your political ideology isn't based on "feelings?" How does one define ideology without ideals?

Is it based on mathematics? Were you born that way?

 

[McDad]

Exactly my point. Trump is benefitting from a ****ed up system, and he's not about to change it for the good of the nation.

He needs Congress to accomplish.

Nobody in DC has the desire to advance a better, more fair system of taxation.

 

[DynaLo]

She got an assessment since she did not fully report all of her 1099 income. Was able to write a letter and the IRS agreed those were a legitimate expense due to her occupation. She showed an increase in bookings and revenue. She was able to deduct hair materials, makeup, mileage, gym membership, some outfits.

I went to HS with her so that's how I got involved if you must know.

I was just happy for her getting the deductions authorized and the precedents it set for other entertainers.

 

[Septic]

Defecate in it. Dump trash. Burn it. Hold a rally. LARP. Smoke Pot and use drugs. Provide abortions. Symbolically grab people by the p****. Collude with Russians. Form a moat with a spot of land in the middle and name it Impeachment Isle.

You know. Fun stuff.

So treat it like golden gate park?

 

[n_huffhines]

Ehh I think you overestimate the importance of a president. Congress should absolutely change it but neither side has shown an appetite to do that.

I think you misjudge my estimation of the importance of a POTUS. I'm just asking him to find some middle ground between taking advantage of the system and keeping quiet about it and unilaterally fixing it. Seems reasonable.

How powerful would it be for Trump to be up front and say, "this is how elites game the system, so let's fix it." He won't do that because he doesn't want it to change. He'd probably rather lose the election than change that.

 

[BigOrangeMojo]

Exactly my point. Trump is benefitting from a ****ed up system, and he's not about to change it for the good of the nation.

Dems had a chance to change taxes and gun control too in 2009 and 2010 and they didnt. Too much lobbyist $$$ to see true structural change

 

[n_huffhines]

He needs Congress to accomplish.

Nobody in DC has the desire to advance a better, more fair system of taxation.

So mum's the word, then? Carry on, Trump. Nothing to see here, cause you're not congress

 

[n_huffhines]

Dems had a chance to change taxes and gun control too in 2009 and 2010 and they didnt. Too much lobbyist $$$ to see true structural change

Dems won't fix it because they suck. Republicans won't fix it.....because they suck.

 

[evillawyer]

Folks seem to be forgetting the contractual scope of work included in hirings.
I can hire my daughter to be VP of my soap company and her contract outlines the very specific duties of that position. She’s also a Chemist so I can later independently contract with her chemical analysis consulting firm to review the chemical formulas I created for my soap.

My company now has two valid expenses, VP payroll and independent consultant pay and she has two streams of income she has to report. One is a personal W2 as VP and one is a 1099 for her consulting firm.

But I assume this can't be a sham arrangement created for a tax or accounting effect only. If it's just Ivanka showing up and doing the same thing she does everyday as Trump Org VP, I gotta believe that the consulting claim wouldn't hold water.

 

[evillawyer]

He could have if he sent it to BLM or the Clinton Foundation.

Good point. I imagine Barr will go public on some Clinton foundation investigation to distract away from this story.

 

[McDad]

So mum's the word, then? Carry on, Trump. Nothing to see here, cause you're not congress

Not at all. I agree he could be vocal and use his position to push it forward. But none of the "heros" up there do anything either. Amash, Paul, et al do nothing to advance it. Not because they don't believe in it (i assume). But because it is a non starter (i assume).

Just like over spending, nobody in DC cares about it anymore.

 

[1972 Grad]

Dems won't fix it because they suck. Republicans won't fix it.....because they suck.

If I were you, I would write in Amash. That will fix things.

 

[McDad]

But I assume this can't be a sham arrangement created for a tax or accounting effect only. If it's just Ivanka showing up and doing the same thing she does everyday as Trump Org VP, I gotta believe that the consulting claim wouldn't hold water.

I would agree with your conclusion based on your assumptions.

But those are some big assumptions.

 

[BigOrangeMojo]

But I assume this can't be a sham arrangement created for a tax or accounting effect only. If it's just Ivanka showing up and doing the same thing she does everyday as Trump Org VP, I gotta believe that the consulting claim wouldn't hold water.

I'd bet Trumps lawyers have their i's dotted and it's crossed. Optically, it looks bad but it's likely legal.

I'm sure they have some type of "business purpose" to substantiate the deduction. Whether or not that really is the case is debatable....

 

[McDad]

I'd bet Trumps lawyers have their i's dotted and it's crossed. Optically, it looks bad but it's likely lega

I'm sure they have some type of "business purpose" to substantiate the deduction. Whether or not that really is the case is debatable....

Earlier someone offered confidence the NYT consulted their legal team on the story. I agree with you, it is just a likely DJT's financial team did their due diligence.

 

[AirVol]

I don't hate him for his tax strategies, but imagine paying 20% (or whatever) in taxes and defending a guy who is much richer than you for paying 1%, when that same guy has the power to push for fairness there, and doesn't. Talk about suckers.

Yeah I’m jealous too. Get on with your life.

 

[Mick]

But I assume this can't be a sham arrangement created for a tax or accounting effect only. If it's just Ivanka showing up and doing the same thing she does everyday as Trump Org VP, I gotta believe that the consulting claim wouldn't hold water.

Hasn't this been the Trump business model since Fred?

 

[BigOrangeMojo]

@evillawyer - It is not illegal to consider taxes when structuring a deduction. As long as the expense is ordinary and reasonable, has business purpose and at arm's length, then it's ok to deduct. Had DJT paid this to Barron, then that likely wouldn't qualify but a payment to Ivanka likely would.

 

[jaybird_1981]

Your political ideology isn't based on "feelings?" How does one define ideology without ideals?

Is it based on mathematics? Were you born that way?

I vote on interests that are important to me. I don't vote based on whether I personally like someone or not.

 

[1972 Grad]

I think you misjudge my estimation of the importance of a POTUS. I'm just asking him to find some middle ground between taking advantage of the system and keeping quiet about it and unilaterally fixing it. Seems reasonable.

How powerful would it be for Trump to be up front and say, "this is how elites game the system, so let's fix it." He won't do that because he doesn't want it to change. He'd probably rather lose the election than change that.

Maybe Biden will be the one to come forward and fix it. I guess you didn't read Chris Jacobs' story in the Wall Street Journal a last month about the Biden family structuring an S corporation to avoid paying hundreds of thousands in taxes over the years?

 

[Mick]

@evillawyer - It is not illegal to consider taxes when structuring a deduction. As long as the expense is ordinary and reasonable, has business purpose and at arm's length, then it's ok to deduct. Had DJT paid this to Barron, then that likely wouldn't qualify but a payment to Ivanka likely would.

If history serves as a guide, Barron probably does get paid.

 

[jaybird_1981]

I think you misjudge my estimation of the importance of a POTUS. I'm just asking him to find some middle ground between taking advantage of the system and keeping quiet about it and unilaterally fixing it. Seems reasonable.

How powerful would it be for Trump to be up front and say, "this is how elites game the system, so let's fix it." He won't do that because he doesn't want it to change. He'd probably rather lose the election than change that.

Sure I would like him to do that. I would appreciate any president doing that but we haven't had one do it yet.

 

[BigOrangeMojo]

If history serves as a guide, Barron probably does get paid.

Fair point and at his age, experience level, it should not qualify. If Barron was 18 and worked for DJT, then some probably should qualify

 

[titansvolsfaninga]

This guy here paid 70K for hair and makeup....seriously?! Who believes that?

 

[Mick]

Fair point and at his age, experience level, it should not qualify. If Barron was 18 and worked for DJT, then some probably should qualify

Just reasonable speculation about some of Trump's expenses that allowed him to pay so little in taxes.