Double Dipper Trump Used Legally Dubious Method To Avoid Paying Taxes

[Wyatt earp]

Legally being the keyword here

Wrong, the key word here is dubious (if Trump released his taxes, he'd probably be in jail - golden letters or not.) because, now that the underfunded IRS has been alerted to Trump's dodge it's doubtful the IRS will simply pocket that info.

It's not likely the IRS will take any action during campaign (it's government policy, except for Jim Comey who plays by his own rules) season but... But Trump walked a legal tightrope and according to many tax experts Trump stepped over the line but because of several letters that were sent to the IRS by Trump's paid tax lawyers - apparently that's all it takes (I've done that myself) even at the billionaire level where the tax dodge by Trump was in the 10's possibly 100's of millions of dollars in revenue that had to be made up by other people paying more or-----or the federal government having to borrow more and more money from overseas sources.

But my questions are; is Trump still clipping coupons from his 1994 tax dodge? Was Trump still cashing in after the law was changed (Hillary voted for the change) in 2004? Even if Trump is able to skate on the legal technicalities of the tax code, will Trump's creditors and partners that got screwed in Trump's 1994 tax dodge be able to sue for damages from Trump's manipulation of the tax code? Was Lyin' Trump lying when he said he's been audited 12 years in row?


Trump's tax dodge skirted the edge of the law, report says
Seema Mehta

At a time when Donald Trump’s casinos were bleeding money and he was badly in debt, the Republican presidential nominee used a “legally dubious” accounting maneuver to avoid reporting hundreds of millions of dollars in income, according to a New York Times report Monday.

In the early 1990s, Trump convinced financial backers to forgive large debts he could not repay, the paper wrote. But he avoided having to report the canceled debts as income because he gave the backers equity in his partnerships that owned the casinos, effectively writing off the income.

Trump’s attorneys advised him at the time that if he were audited, the Internal Revenue Service would not look favorably upon the tactic, the paper reported. In 2004, Congress voted to outlaw the practice. Then-Sen. Hillary Clinton was among those who voted to close the loophole.

Trump declined to comment on the report, and his spokeswoman Hope Hicks dismissed it as “either a fundamental misunderstanding or an intentional misreading of the law.”

The Times wrote that it discovered the tax gambit while combing through casino bankruptcy filings. The newspaper posted on its website “tax opinion letters” Trump obtained from his attorneys about the maneuvers.

On the campaign trail, Trump has bragged about his ability to use tax loopholes and said his knowledge of the flaws in the tax structure made him the most capable to fix it.

But Trump's claims about his taxes and income are not independently verifiable because he has refused to release his tax returns, bucking four decades of practice among presidential nominees.

<snip>

.

if Trump released his taxes, he'd probably be in jail - golden letters or not.


Why would he be in jail?????????

Again he is always getting audited what's different this time?

 

[ClosedCaption]

Sheesh, the guy gets audited practically every year and the IRS has been exposed as a strong arm of the Democratic Party.

You forgot to say "Trump SAYS he is audited every year" because stating that he is audited every year would require proof

 

[Claudette]

Legally being the keyword here

Wrong, the key word here is dubious (if Trump released his taxes, he'd probably be in jail - golden letters or not.) because, now that the underfunded IRS has been alerted to Trump's dodge it's doubtful the IRS will simply pocket that info.

It's not likely the IRS will take any action during campaign (it's government policy, except for Jim Comey who plays by his own rules) season but... But Trump walked a legal tightrope and according to many tax experts Trump stepped over the line but because of several letters that were sent to the IRS by Trump's paid tax lawyers - apparently that's all it takes (I've done that myself) even at the billionaire level where the tax dodge by Trump was in the 10's possibly 100's of millions of dollars in revenue that had to be made up by other people paying more or-----or the federal government having to borrow more and more money from overseas sources.

But my questions are; is Trump still clipping coupons from his 1994 tax dodge? Was Trump still cashing in after the law was changed (Hillary voted for the change) in 2004? Even if Trump is able to skate on the legal technicalities of the tax code, will Trump's creditors and partners that got screwed in Trump's 1994 tax dodge be able to sue for damages from Trump's manipulation of the tax code? Was Lyin' Trump lying when he said he's been audited 12 years in row?


Trump's tax dodge skirted the edge of the law, report says
Seema Mehta

At a time when Donald Trump’s casinos were bleeding money and he was badly in debt, the Republican presidential nominee used a “legally dubious” accounting maneuver to avoid reporting hundreds of millions of dollars in income, according to a New York Times report Monday.

In the early 1990s, Trump convinced financial backers to forgive large debts he could not repay, the paper wrote. But he avoided having to report the canceled debts as income because he gave the backers equity in his partnerships that owned the casinos, effectively writing off the income.

Trump’s attorneys advised him at the time that if he were audited, the Internal Revenue Service would not look favorably upon the tactic, the paper reported. In 2004, Congress voted to outlaw the practice. Then-Sen. Hillary Clinton was among those who voted to close the loophole.

Trump declined to comment on the report, and his spokeswoman Hope Hicks dismissed it as “either a fundamental misunderstanding or an intentional misreading of the law.”

The Times wrote that it discovered the tax gambit while combing through casino bankruptcy filings. The newspaper posted on its website “tax opinion letters” Trump obtained from his attorneys about the maneuvers.

On the campaign trail, Trump has bragged about his ability to use tax loopholes and said his knowledge of the flaws in the tax structure made him the most capable to fix it.

But Trump's claims about his taxes and income are not independently verifiable because he has refused to release his tax returns, bucking four decades of practice among presidential nominees.

<snip>

.

if Trump released his taxes, he'd probably be in jail - golden letters or not.


Why would he be in jail?????????

Again he is always getting audited what's different this time?

Nothing except Starass has convinced himself that Trump is a crook among other things.

You can't cure stupid. LOL

 

[BluesLegend]

In the twisted world of liberals its unpatriotic to pay less taxes.

 

[boilermaker55]

You got it right you are just to ignorant to know what you are talking about.

The irony of Trump is that he is what is wrong with America today in so many ways. A draft dodger, a tax cheat, an outsourcer, a misogynist, a racist, and you can add more but why bother. His appeal is hatred for the other, whether is be immigrants or Hillary. Hate binds people like nothing else.

We're talking about Trump, not Obama.....

 

[ClosedCaption]

In the twisted world of liberals its unpatriotic to pay less taxes.

Yanno, its sorta like when someone puts out a chips for guests. You can take what you like but when you see one guy filling up his bag he brought from home with your chips its not illegal but its one helluva dick move

 

[AntonToo]

Maybe you might want to vote for Trump who wants to do away with all these liberal loopholes and get a more just Tax System.

Except that is bullshit and there is not a single actual proposal from Trump to do any of that. Trump's tax reform first and foremost solves the problem of him not able to pass inheritance to his kids without paying taxes on it.

 

[Lumpy 1]

Sheesh, the guy gets audited practically every year and the IRS has been exposed as a strong arm of the Democratic Party.

You forgot to say "Trump SAYS he is audited every year" because stating that he is audited every year would require proof

So, present all the proof that you have accumulated, no problem..

 

[ClosedCaption]

Sheesh, the guy gets audited practically every year and the IRS has been exposed as a strong arm of the Democratic Party.

You forgot to say "Trump SAYS he is audited every year" because stating that he is audited every year would require proof

So, present all the proof that you have accumulated, no problem..

You want the proof that I said doesnt exist? Well thats one way to expect the impossible.

 

[Lumpy 1]

Sheesh, the guy gets audited practically every year and the IRS has been exposed as a strong arm of the Democratic Party.

You forgot to say "Trump SAYS he is audited every year" because stating that he is audited every year would require proof

So, present all the proof that you have accumulated, no problem..

You want the proof that I said doesnt exist? Well thats one way to expect the impossible.

Learn to spell-check and my statement remains correct,

"proof that I said doesnt exist?" sure you did...

 

[ClosedCaption]

Sheesh, the guy gets audited practically every year and the IRS has been exposed as a strong arm of the Democratic Party.

You forgot to say "Trump SAYS he is audited every year" because stating that he is audited every year would require proof

So, present all the proof that you have accumulated, no problem..

You want the proof that I said doesnt exist? Well thats one way to expect the impossible.

Learn to spell-check and my statement remains correct,

"proof that I said doesnt exist?" sure you did...

Read above where I said it required proof hes being audited

 

[BluesLegend]

In the twisted world of liberals its unpatriotic to pay less taxes.

Yanno, its sorta like when someone puts out a chips for guests. You can take what you like but when you see one guy filling up his bag he brought from home with your chips its not illegal but its one helluva dick move

You mooching libs will get nothing and like it, I use every legal means to pay as little as possible like Trump, like anyone with a brain.

 

[Two Thumbs]

.


Double Dipper Trump Used Legally Dubious Method To Avoid Paying Taxes




Donald Trump is nothing if not a shyster.
In a nutshell, what Trump did to avoid paying taxes for 18 years is borrow money from banks and partners then-----then when his business went south he wrote off money that wasn't his as losses leaving his debtors holding the bag while simultaneously avoiding paying his fair share of taxes. It's more complicated than that but the above is a good start - the IRS needs 10,000 pages of tax legalese and Trump needs an army of lawyers to explain Trump's legally dubious tax avoidance scheme(s). See article below:


Donald Trump Used Legally Dubious Method to Avoid Paying Taxes

By DAVID BARSTOW, MIKE McINTIRE, PATRICIA COHEN, SUSANNE CRAIG and RUSS BUETTNER
OCT. 31, 2016

Donald J. Trump proudly acknowledges he did not pay a dime in federal income taxes for years on end. He insists he merely exploited tax loopholes legally available to any billionaire — loopholes he says Hillary Clinton failed to close during her years in the United States Senate. “Why didn’t she ever try to change those laws so I couldn’t use them?” Mr. Trump asked during a campaign rally last month.
But newly obtained documents show that in the early 1990s, as he scrambled to stave off financial ruin, Mr. Trump avoided reporting hundreds of millions of dollars in taxable income by using a tax avoidance maneuver so legally dubious his own lawyers advised him that the Internal Revenue Service would most likely declare it improper if he were audited.
\

hillary donates money to herself for a tax write off then signs her own paycheck.

but you don't care b/c 10 years ago trump....

* Which "donates" are you talking about?
* Which "tax write off" are you talking about?
* What "paycheck" are you talking about?

Don't be askered to be specific, the worst that will happen to you is someone on the USMB will prove you wrong. Only thin-skinned, egotists, etc. are afraid of being called out on a message board - so quit posting BS and get specific - can we talk?

.

her donations to the clinton foundation

giving money to herself, is a tax write off

she works for the cf as well as bill and their kid

so she pays herself to work there

 

[HenryBHough]

Sad, hombre, that those ESL classes don't make clear the difference between the honourable "avoid" and the Clintonesque "evade". Hope that's not on the citizenship test.....

 

[KissMy]

Two former allies of New Jersey Gov. Chris Christie have been convicted in a plot to use traffic jams for political retaliation.

 

[edthecynic]

hillary donates money to herself for a tax write off then signs her own paycheck.

LIAR!
Neither Hillary, nor any other Clinton draws a paycheck from their charity.

 

[Two Thumbs]

hillary donates money to herself for a tax write off then signs her own paycheck.

LIAR!
Neither Hillary, nor any other Clinton draws a paycheck from their charity.

7 Things You Need To Know About The Clinton Foundation

Indeed, Form 990 shows that the Clintons used the money raised by the foundation to pay for their travel expenses, which included "travel by charter or in first class

"The Clintons get nothing from the foundation except free travel on chartered jets and first-class airline seats and hotel stays and, oh yes, control over a giant operating budget to steer to the charities and good causes that they prefer," writes National Review's Jim Geraghty. "Practically nothing!"

3. The Clintons have listed their foundation as a charity for tax write-off purposes. Bill and Hillary Clinton claimed $10.2 million in charitable tax breaks from 2001-2008 due to the Clinton Foundation. In 2015, $1 million out of Bill and Hillary's $1,042,000 in charitable deductions was due to the Clinton Family Foundation, which is separate from the Clinton Foundation but still run by the sleazy political power couple.

4. The Clinton Foundation's donors include countries with awful records on women's rights. Via Geraghty, these countries include:

• $1-5 million from Qatar.
• $5-10 million from Kuwait.
• $10-$25 million from Saudi Arabia.

5. The Clinton Foundation was used for the Clintons to provide quid pro quo deals to their donors. Some examples include:

• The Clinton Foundation used the Haiti earthquake to provide "aid" to the Haitians that was really nothing more than payoffs to Clinton donors that did very little to help the Haitians, as Dinesh D'Souza explains here.
• Clinton Foundation donor Joyce Aboussie asked top Clinton aide Huma Abedin in June 2009 for Peabody Energy, a coal company Aboussie consulted for, to have a meeting with Clinton, and Abedin responded: "I hope we can make something work."
• Also in 2009, U2 lead singer Bono, also a donor to the Clinton Foundation, wanted "to do a linkup with the International Space Station on every show during the tour this year," according to newly released emails. Abedin and Clinton Foundation director Doug Band didn't know who to talk to in NASA about it, but as Politico notes, U2's most recent tour did feature "a video from astronauts aboard the International Space Station."
• The Clinton Foundation gave $2 million to one of Bill Clinton's special friends, as The Daily Wire reported here.
• Hillary Clinton's State Department approved of a deal that gave Russia 20 percent of U.S. uranium reserves because it benefited Clinton Foundation donors.
• Clinton's State Department also approved of "$165 billion worth of commercial arms sales to 20 nations whose governments have given money to the Clinton Foundation," including "Algeria, Saudi Arabia, Kuwait, the United Arab Emirates, Oman and Qatar," according to International Business Times.

7. The Clinton Foundation pledged to clear any foreign donations with the State Department before Clinton became the Secretary of State. And yet they didn't clear a $500,000 donation from the government of Algeria in 2010, which is why their pledge to stop taking foreign and corporate donations if Hillary Clinton if elected president cannot be taken seriously.



would you like a leather strap to sharpen your razor to split that hair?

Or would you like to just go fuck yourself?

 

[edthecynic]

hillary donates money to herself for a tax write off then signs her own paycheck.

LIAR!
Neither Hillary, nor any other Clinton draws a paycheck from their charity.

7 Things You Need To Know About The Clinton Foundation

Indeed, Form 990 shows that the Clintons used the money raised by the foundation to pay for their travel expenses, which included "travel by charter or in first class

"The Clintons get nothing from the foundation except free travel on chartered jets and first-class airline seats and hotel stays and, oh yes, control over a giant operating budget to steer to the charities and good causes that they prefer," writes National Review's Jim Geraghty. "Practically nothing!"

3. The Clintons have listed their foundation as a charity for tax write-off purposes. Bill and Hillary Clinton claimed $10.2 million in charitable tax breaks from 2001-2008 due to the Clinton Foundation. In 2015, $1 million out of Bill and Hillary's $1,042,000 in charitable deductions was due to the Clinton Family Foundation, which is separate from the Clinton Foundation but still run by the sleazy political power couple.

4. The Clinton Foundation's donors include countries with awful records on women's rights. Via Geraghty, these countries include:

• $1-5 million from Qatar.
• $5-10 million from Kuwait.
• $10-$25 million from Saudi Arabia.

5. The Clinton Foundation was used for the Clintons to provide quid pro quo deals to their donors. Some examples include:

• The Clinton Foundation used the Haiti earthquake to provide "aid" to the Haitians that was really nothing more than payoffs to Clinton donors that did very little to help the Haitians, as Dinesh D'Souza explains here.
• Clinton Foundation donor Joyce Aboussie asked top Clinton aide Huma Abedin in June 2009 for Peabody Energy, a coal company Aboussie consulted for, to have a meeting with Clinton, and Abedin responded: "I hope we can make something work."
• Also in 2009, U2 lead singer Bono, also a donor to the Clinton Foundation, wanted "to do a linkup with the International Space Station on every show during the tour this year," according to newly released emails. Abedin and Clinton Foundation director Doug Band didn't know who to talk to in NASA about it, but as Politico notes, U2's most recent tour did feature "a video from astronauts aboard the International Space Station."
• The Clinton Foundation gave $2 million to one of Bill Clinton's special friends, as The Daily Wire reported here.
• Hillary Clinton's State Department approved of a deal that gave Russia 20 percent of U.S. uranium reserves because it benefited Clinton Foundation donors.
• Clinton's State Department also approved of "$165 billion worth of commercial arms sales to 20 nations whose governments have given money to the Clinton Foundation," including "Algeria, Saudi Arabia, Kuwait, the United Arab Emirates, Oman and Qatar," according to International Business Times.

7. The Clinton Foundation pledged to clear any foreign donations with the State Department before Clinton became the Secretary of State. And yet they didn't clear a $500,000 donation from the government of Algeria in 2010, which is why their pledge to stop taking foreign and corporate donations if Hillary Clinton if elected president cannot be taken seriously.



would you like a leather strap to sharpen your razor to split that hair?

Or would you like to just go fuck yourself?

All pure partisan bullshit, and YOU are the one splitting a hair.