What the judge in the Mar-A-Largo case said..."“Please, press, stop saying that I valued it at $18 million!"

[Curried Goats]

How? What did they lose?

A proper accounting of Trump's tax liability.

 

[Nostra]

Who cares? Irrelevant.

But to answer your question, banks were harmed. People applying for loans were harmed. Tax payers were harmed.

How were all those harmed? Be very specific.

 

[Nostra]

A proper accounting of Trump's tax liability.

No stupid, the government's tax assessor set the tax valuation.

What Trump says it is worth has no bearing on his taxes. You clowns are completely clueless, and stupid.

 

[Curried Goats]

No stupid, the government's tax assessor set the tax valuation.

What Trump says it is worth has no bearing on his taxes. You clowns are completely clueless, and stupid.

It has bearing on whether he committed fraud in his loan applications.

 

[The Duke]

Let's not forget that Trump at one point argued that 26 million was too high of a valuation for tax purposes...then the same year he said was worth 600 million for loan purposes.

 

[Catsnmeters]

Banks are required to get their own appraisal, Halfwit.

Ahhh look. Nostra is parroting a new talking point. How cute.

Link please

 

[The Duke]

Ahhh look. Nostra is parroting a new talking point. How cute.

Link please

I doubt you'll read it, but OK.

Bank Credit Analysis

In bank credit analysis, banks consider and evaluate every loan application based on merits. They check the creditworthiness of every individual or entity

corporatefinanceinstitute.com

 

[Nostra]

It has bearing on whether he committed fraud in his loan applications.

Loan applications have nothing to do with property taxes, you raving lunatic.

 

[Nostra]

Ahhh look. Nostra is parroting a new talking point. How cute.

Link please

One was provided up thread by another poster, Dumbass.

 

[healthmyths]

To remedy your ignitance from the link...

"That's because local property taxes are higher for properties that are worth more. Mar-a-Lago's valuation is reflective of a property that is not a residence (even though Trump uses it as one).

"Mar-a-Lago is deed restricted as a private club. The deed itself is restricted, it can't be used for any other purpose, as such our office values it as we value the other private clubs in Palm Beach County," Haltermon Robinson said.

Deed restrictions can hurt a property's value, said Eli Beracha, the director of Florida International University's Hollo School of Real Estate.

"Clearly, when you have restrictions on a property, it'll only decrease, not increase the value of the property," Beracha said. "Every time you limit basically what the property can be, the chances are that it decreases the value."

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.cbsnews.com/amp/news/trump-mar-a-lago-1-8-billion-own-company-said-it-was-too-high/&ved=2ahUKEwiZvqr1w9qBAxWWOjQIHW8qATcQFnoECBsQAQ&usg=AOvVaw0j57FjrsIz-AWAwiICF_mx

Let's not forget that Trump at one point argued that 26 million was too high of a valuation for tax purposes...then the same year he said was worth 600 million for loan purposes.

I guess you need a primer in the two sets of books!
Then every single public corporation should be jailed for fraud!

Is it OK to Keep Two Sets of Books? A Primer on Deferred Tax Assets

One of the dirty little secrets of finance is that publicly traded corporations maintain two different sets of “books,” or accounting ledgers. Before you get all riled up and start calling various attorney generals’ offices, understand that it is perfectly legal and normal. One set of books is...

blogs.cfainstitute.org

One of the dirty little secrets of finance is that publicly traded corporations maintain two different sets of “books,” or accounting ledgers.
Before you get all riled up and start calling various attorney generals’ offices, understand that it is perfectly legal and normal.

One set of books is for the financial statements that they present to shareholders when they file their quarterly reports with the U.S. SEC, and that set is prepared according to GAAP (generally accepted accounting principles). The other set is the books they keep to pay their taxes to the IRS.

The government, it turns out, doesn’t much care for “generally accepted” and is often only concerned with what actually happened. It usually doesn’t want to hear about “estimates.” GAAP, on the other hand, actually requires management to make estimates of both revenues and expenses all the time.

GAAP vs. IRS Accounting
One of the most common differences between GAAP and IRS accounting rules is the amount of depreciation expense a company is allowed to take on its equipment. For the most part, companies try to stick to the “matching principle” in accounting. That is, they try to match when the revenue is generated with when the expense is incurred. This matching helps them plan for capital expenditures in the future.

Airlines, for instance, don’t recognize the expense of a new airplane in the period when it is delivered to them but instead stretch the expense out over the years of service that the plane will be used to generate revenue.

 

[Curried Goats]

Loan applications have nothing to do with property taxes, you raving lunatic.

I said discrepancies between his valuations for taxes and for loans went to proving fraud, you illiterate Bingo.

 

[Catsnmeters]

I doubt you'll read it, but OK.

Bank Credit Analysis

In bank credit analysis, banks consider and evaluate every loan application based on merits. They check the creditworthiness of every individual or entity

corporatefinanceinstitute.com

I read it. What is your point?

 

[Lastamender]

We are all well aware that your stupid extends beyond Trump. We're just pointing out that a court of law is where your stupid goes to die.

What court of law? We are fresh out of those.

 

[Catsnmeters]

I guess you need a primer in the two sets of books!
Then every single public corporation should be jailed for fraud!

Is it OK to Keep Two Sets of Books? A Primer on Deferred Tax Assets

One of the dirty little secrets of finance is that publicly traded corporations maintain two different sets of “books,” or accounting ledgers. Before you get all riled up and start calling various attorney generals’ offices, understand that it is perfectly legal and normal. One set of books is...

blogs.cfainstitute.org

One of the dirty little secrets of finance is that publicly traded corporations maintain two different sets of “books,” or accounting ledgers.
Before you get all riled up and start calling various attorney generals’ offices, understand that it is perfectly legal and normal.

One set of books is for the financial statements that they present to shareholders when they file their quarterly reports with the U.S. SEC, and that set is prepared according to GAAP (generally accepted accounting principles). The other set is the books they keep to pay their taxes to the IRS.

The government, it turns out, doesn’t much care for “generally accepted” and is often only concerned with what actually happened. It usually doesn’t want to hear about “estimates.” GAAP, on the other hand, actually requires management to make estimates of both revenues and expenses all the time.

GAAP vs. IRS Accounting
One of the most common differences between GAAP and IRS accounting rules is the amount of depreciation expense a company is allowed to take on its equipment. For the most part, companies try to stick to the “matching principle” in accounting. That is, they try to match when the revenue is generated with when the expense is incurred. This matching helps them plan for capital expenditures in the future.

Airlines, for instance, don’t recognize the expense of a new airplane in the period when it is delivered to them but instead stretch the expense out over the years of service that the plane will be used to generate revenue.

Thanks for posting the same nonsense that you posted before and subsequently didn't reply too.

Again I ask, what does depreciation have to with Trump valuating his property at less then 26 million for tax purposes but 600 million for loan purposes?

 

[The Duke]

I said discrepancies between his valuations for taxes and for loans went to proving fraud, you illiterate Bingo.

No fraud if no one was defrauded.

 

[Curried Goats]

What court of law? We are fresh out of those.

Nope. They still exist. Even when they hurt your feelings so badly you clench your eyes real tight and fantasize that they don't. They're still there.

 

[The Duke]

I read it. What is your point?

If you did, you apparently didn't understand it.

 

[Curried Goats]

No fraud if no one was defrauded.

You're stupid. The people of the State of New York were defrauded. That's who's suing Donald Trump.

 

[Lastamender]

Nope. They still exist. Even when they hurt your feelings so badly you clench your eyes real tight and fantasize that they don't. They're still there.

What is going on has nothing to do with justice. it is fascism when political opponents are charged with crimes that have to be fabricated.

 

[Curried Goats]

What is going on has nothing to do with justice. it is fascism when political opponents are charged with crimes that have to be fabricated.

No one needs to fabricate anything. Fraud is a real crime.