Could be valid reasons for that. As you know, what the government considers the final number on income can be different do to tax breaks and write offs than what the gross number is. As in, taxable income and gross income are not the same things.
Anyone that has tried to get financing for their business understands the dichotomy that exists. The business needs to devalue assets in order to pay the least amount in taxes. On the other hand, the business needs to inflate assets in order to secure financing.
Anyone running a business knows that you can’t lie about the assets to either institution. Fear of penalties and retribution keep business owners from doing this.
Here’s the question. Does Donald Trump possess the business discipline to keep him from fudging the value of his assets?
Another Trump property seems to have shady tax and loan filings.
This time it is Trump Tower.
According to loan and tax filings, the building was presented as 98-99% full when getting a loan but presented to tax authorities as 83% full in the same year.
When the building was refinanced in 2012… the same period as these filings… and the $27 million debt was replaced with a $100 million loan allowing Trump to extract $68 million.
Ladder Capital was, like his two other buildings in this investigation, the loan underwriter.
So this once again makes it so there is a high potential that the President committed tax fraud, loan fraud and securities fraud.
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this part though…
“I cannot give you an explanation,” said Kevin Riordan, a financing expert, former accountant and real estate professor at Montclair State University who reviewed the tax and loan records for Trump Tower at ProPublica’s request.
More than a dozen tax and finance experts, presented with ProPublica’s earlier findings, also said they could not decipher a reason for the differences. As with Trump Tower, the discrepancies made the two properties — a skyscraper located at 40 Wall Street and the Trump International Hotel and Tower near Columbus Circle — appear more profitable to the lender and less so to property tax officials.
Remember back in the day when Republicans were really concerned about shady real estate deals?
i think there was an entire special prosecutor investigation and everything but that was so long ago
We elected a white trash low level criminal and gave him the keys to his own jail cell…
Good job america…
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They tell us they care about corruption in the Ukraine…
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Trump forgot to carry a 1.
It has to be it, or he’s just a victim in all this.
Rogue accountants.
Acting alone.
To make Trump more money…
Okay… I have to work on it a bit.
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really…Some one needs to get on this and call Adam Shiff…
I keep wondering about what is going on with Allen Weisselberg. Quite awhile ago it was reported that he was talking with the Feds. Then all went silent. I would think that he would be prime flipping material for the SDNY and/or the NY AG.
It is strange how all of that stuff that was happening in SDNY went dark after Barr became AG.
Good point. In fact there was a story on today about how some of the D’s on the hill are wondering out loud why the IG at DOJ has been reluctant in questioning why Barr has failed to start some investigations that seemed obvious.
Or just seemed to have sat on ones that were ongoing when he took office.
If this executive had signed off on a Whitewater loan… the accusations of the Clintons being involved would be flying here. Instead, utter silence…
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That’s very sad.
But, where was Hillary?
In the library with the candlestick.
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You’re desperate obviously, is it the Horowitz’s report or is it the criminal investigations created because of it, must be the 7.4 billion missing in Ukraine and Schiff and Hunter getting rich from it.
Don’t worry it will all be investigated in the Senate weather the House votes to impeach or not.
It looks like the Manhattan DA is going to look into this.
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