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

[Curried Goats]

If Trump lied about the value of a property the bank's appraisal would catch it, Dumbass. They all appraise properties they loan money on.

Not sure how this fact is too difficult for you to grasp.

Either he lied on his loan application or his taxes. Whichever you want to claim is the real one means he lied on the other.

 

[Catsnmeters]

Obviously

So you admit you are wrong or that you can't read?

 

[Catsnmeters]

If Trump lied about the value of a property the bank's appraisal would catch it, Dumbass. They all appraise properties they loan money on.

Not sure how this fact is too difficult for you to grasp.

Link that banks appraise all property's.

They all use appraisals but do not disturb their own appraisals.

 

[BluesLegend]

So you admit you are wrong or that you can't read?

 

[Catsnmeters]

So evasion.

We know why.

Have a great day.

 

[healthmyths]

He does claim a set value for his assets on loan applications. The point isn't whether the bank did their due diligence on his application, it's about whether those valuations match with those of his tax filings and they don't. Not even close. That's called fraud.

ONCE again you either didn't read this or most likely you don't understand It!

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.

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.

NOW does the above make sense? Two distinct values are used. One for the SEC i.e. the public and one for the IRS for taxes. Land/buildings have two distinct values in this case.

This is how trillions of dollars are valued for market purposes while it represents less for taxes!

 

[Curried Goats]

ONCE again you either didn't read this or most likely you don't understand It!

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.

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.

NOW does the above make sense? Two distinct values are used. One for the SEC i.e. the public and one for the IRS for taxes. Land/buildings have two distinct values in this case.

This is how trillions of dollars are valued for market purposes while it represents less for taxes!

Why the fuck would I need to read that? If Trump has a solid defense then how the fuck was he already found to have committed extensive fraud?

 

[Catsnmeters]

ONCE again you either didn't read this or most likely you don't understand It!

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.

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.

NOW does the above make sense? Two distinct values are used. One for the SEC i.e. the public and one for the IRS for taxes. Land/buildings have two distinct values in this case.

This is how trillions of dollars are valued for market purposes while it represents less for taxes!

You still haven't explained why this relevant to the thread.

Trump's fraud has nothing to do with depreciation or having two books.

 

[WEATHER53]

Lib loons getting their asses handed to them especially in my teacher example so this thread HAD to be micromanaged and shunted to nowhere.

 

[WEATHER53]

No harm is required.

Enjoy supporting your strawman.

Fraud is harm

 

[healthmyths]

You still haven't explained why this relevant to the thread.

Trump's fraud has nothing to do with depreciation or having two books.

Duh....
Almost all public companies keep 2 sets of values is the point.
1) for the IRS and 1) for the SEC.
The same with private companies as when you borrow money you want to present the best case, i.e
in this case Trump's accountants would show how 2 acres in the same neighborhood sold for $200 million thus the 17 acres of Mar-a-largo can ask over $1 billion as Trump has said.
or don't you understand simple math... i.e. 2 acres equal $200 million or $100 million/ acre.
17 acres time $100 million equals $1.7 billion!
Duh why is that a problem for you? Oh right math!

 

[Catsnmeters]

Fraud is harm

Ok. If you say so.

Regardless, harm is not required.

 

[Catsnmeters]

Duh....
Almost all public companies keep 2 sets of values is the point.
1) for the IRS and 1) for the SEC.
The same with private companies as when you borrow money you want to present the best case, i.e
in this case Trump's accountants would show how 2 acres in the same neighborhood sold for $200 million thus the 17 acres of Mar-a-largo can ask over $1 billion as Trump has said.
or don't you understand simple math... i.e. 2 acres equal $200 million or $100 million/ acre.
17 acres time $100 million equals $1.7 billion!
Duh why is that a problem for you? Oh right math!

Trump isn't under scrutiny for having two sets of books.

He is under scrutiny for cheating on valuation documents for loans and or taxes.

Which two acres in his neighborhood were valuated at that have the same property restrictions that Trump does?

Also, did the people at those properties have a 2300 percent disparity between the valuations for tax purposes vs loan purposes?

 

[LAUGHatLEFTISTS]

Lol, you still buying trumps lie that the judge recently debunked?

You poor thing. Leftists are laughing at you.

Nope. Angry programmed useful idiots don’t laugh.

 

[LAUGHatLEFTISTS]

You are a moron. When you sign off on your taxes you are essentially agreeing with the valuations. If you then use different valuations for loans that's called fraud you stupid stupid moron. You don't have to believe me but a judge is going to learn Trump at the end of this trial.

A judge is going to be overturned at the end of this trial.

 

[Curried Goats]

A judge is going to be overturned at the end of this trial.

Sure he is.

 

[Catsnmeters]

Nope. Angry programmed useful idiots don’t laugh.

Yet your statement was still a lie...because you believed Trump. Dupe.

 

[surada]

That wino "judge" must not keep up with property costs.

I hope that if he owns property that he wants to sell they devalue it to 1980 levels. Turn about is fair play.

Mara Lago is in a historical trust. Nothing can be changed. That's why it has such limited resale value.

 

[The Duke]

You are a moron. When you sign off on your taxes you are essentially agreeing with the valuations. If you then use different valuations for loans that's called fraud you stupid stupid moron. You don't have to believe me but a judge is going to learn Trump at the end of this trial.

It doesn't work like that, idiot.

Tax assessments and market value are two very different things.

If you had ever dealt with things like that you'd know, but you don't, so you probably should stop

flapping your lips about it.

 

[Curried Goats]

It doesn't work like that, idiot.

Tax assessments and market value are two very different things.

If you had ever dealt with things like that you'd know, but you don't, so you probably should stop

flapping your lips about it.

I'm not the one defending the guy already civilly liable for fraud (and about to be criminally liable). Obviously it's Trump who didn't know what the fuck he was doing.