“Even while declaring losses, Trump has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television”
Bottom line is this news will cost Trunpster votes. People are gonna be pissed when the find out that while they are struggling to make ends meet and paying their taxes…he paid $750.
There’s no doubt more stories will come out regarding Invanka’s involvement in all of this criming.
“Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill”
The Times investigation discovered a striking match: Mr. Trump’s private records show that his company once paid $747,622 in fees to an unnamed consultant for hotel projects in Hawaii and Vancouver, British Columbia.
Ivanka Trump’s public disclosure forms — which she filed when joining the White House staff in 2017 — show that she had received an identical amount through a consulting company she co-owned.
But like, Trump being super rich and a great businessman is literally the heart of his appeal as a politician. This is not great news for the Republican Party.
However taking tax write offs you are not entitled to would be illegal tax write offs. For example, the article notes one write off for abandoning a business venture for (IIRC) about $72 Million. However the rule for that write off is that you have to walk away and not receive anything of value. Well he apparently got a 5% stake in the new resulting company (which is something of value).
For a write off that wasn’t legal, he may be receiving a $100 Million dollar bill for back taxes and fines. Then the States will have a shot at him for their portion of that deduction used as applied to State Income Tax law.
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.WW, PSHS