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

[healthmyths]

Nope this was all during Trump's presidency.

Why do you put up such a LIE? FACTS not guesses!
Since President Biden took office, U.S. Customs and Border Protection (CBP) has logged more than 5.4 million illegal border crossings, plus at least 1.5 million “gotaways” – that is, border crossers who were detected by CBP technology, but who were never apprehended.

The Biden Border Crisis | Senator Cornyn

The Biden Border Crisis is placing families, communities, and hardworking Texans in harm's way - here's how.

www.cornyn.senate.gov

 

[healthmyths]

Lolol Mara Lago is encumbered by a historic trust that severely limits it's usefulness and resale value.

 

[surada]

Why do you put up such a LIE? FACTS not guesses!
Since President Biden took office, U.S. Customs and Border Protection (CBP) has logged more than 5.4 million illegal border crossings, plus at least 1.5 million “gotaways” – that is, border crossers who were detected by CBP technology, but who were never apprehended.

The Biden Border Crisis | Senator Cornyn

The Biden Border Crisis is placing families, communities, and hardworking Texans in harm's way - here's how.

www.cornyn.senate.gov

View attachment 920841

Obama deported many more illegals than Trump.

Trump owes El Paso 560,000 since 2019.

Trumpâs Net Worth Plunges $700 Million As Truth Social Flops

The former president’s fortune dropped from an estimated $3.2 billion last fall to $2.5 billion today. The biggest reason? His social media business, once hyped to the moon, has come crashing down.

www.forbes.com

The former president’s fortune dropped from an estimated $3.2 billion last fall to $2.5 billion today. The biggest reason? His social media business, once hyped to the moon, has come crashing down, erasing $550 million from his net worth—so far.

 

[healthmyths]

But it’s widely known that the tax assessor valuation is typically, though not always, less than what a property would command on the open market.
In other words, it’s not an apples-to-apples comparison. “Appraisal values and market values are just not the same thing. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “That’s especially true for properties that are unique. And it’s very easy to argue this is a unique property.”
Dina Goldentayer, executive director of sales at Douglas Elliman in South Florida, said in her
experience in the ultra-luxury marketplace the tax assessor’s valuation isn’t considered when trying to value a property.

“He wouldn’t make a very good realtor,” Goldentayer said of the judge.
“It’s so widely known that it’s not an accurate determination of market value.”
Goldentayer added, “If there is a ranking as to what would have the lowest valuation,

• it’s the tax assessor’s office,
• followed by Zillow and
• then the realtor’s valuation is the highest.”

https://www.cnn.com/2023/10/03/business/trump-fraud-judge-mar-a-lago/index.html

AGAIN FACTS versus zilch from you!

 

[westwall]

/——/ That’s a beautiful home, hope nothing happens to it once NY steals it. Gas explosions happen. Just sayin’

If only you had one. Must suck still living in your poor moms basement. Does she still do your laundry for you or did you finally figure out how to work the laundry machine controls?

 

[surada]

But it’s widely known that the tax assessor valuation is typically, though not always, less than what a property would command on the open market.
In other words, it’s not an apples-to-apples comparison. “Appraisal values and market values are just not the same thing. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “That’s especially true for properties that are unique. And it’s very easy to argue this is a unique property.”
Dina Goldentayer, executive director of sales at Douglas Elliman in South Florida, said in her
experience in the ultra-luxury marketplace the tax assessor’s valuation isn’t considered when trying to value a property.

“He wouldn’t make a very good realtor,” Goldentayer said of the judge.
“It’s so widely known that it’s not an accurate determination of market value.”
Goldentayer added, “If there is a ranking as to what would have the lowest valuation,

• it’s the tax assessor’s office,
• followed by Zillow and
• then the realtor’s valuation is the highest.”

https://www.cnn.com/2023/10/03/business/trump-fraud-judge-mar-a-lago/index.html

AGAIN FACTS versus zilch from you!

Do you know what deed restrictions are?

 

[surada]

/——/ That’s a beautiful home, hope nothing happens to it once NY steals it. Gas explosions happen. Just sayin’

It's an albatross. It's old and nothing can be changed because it's a historic building. Trump agreed to get a tax break. Resale value is zilch because of the deed restrictions.

 

[westwall]

It's an albatross. It's old and nothing can be changed because it's a historic building. Trump agreed to get a tax break. Resale value is zilch because of the deed restrictions.

You are so full of shit. Everything that it is doing now, it can continue doing into the future. That means it isn't an albatross.

Were you not a moron you would understand that the conservation decree protects Mar a Lago from taxes.

Rich people do that to historic properties to protect them all sorts of bureaucratic scumbags.

 

[Man With A Plan]

We don't live in your fantasy world you sad sad snowflake. We live in the real world. Crying like a little bitch doesn't automatically make your political opponents corrupt nor does it have any bearing on the real world whatsoever. In the real world when you file your taxes with one valuation of your property and apply for loans with another that's called fraud you stupid Simp. It isn't more complicated than that.

You don't own property...do you, Goats?

 

[surada]

You are so full of shit. Everything that it is doing now, it can continue doing into the future. That means it isn't an albatross.

Were you not a moron you would understand that the conservation decree protects Mar a Lago from taxes.

Rich people do that to historic properties to protect them all sorts of bureaucratic scumbags.

Trump raied

You are so full of shit. Everything that it is doing now, it can continue doing into the future. That means it isn't an albatross.

Were you not a moron you would understand that the conservation decree protects Mar a Lago from taxes.

Rich people do that to historic properties to protect them all sorts of bureaucratic scumbags.

Mara Lago is still losing money even since Trump doubled the membership fee.

 

[Cellblock2429]

It's an albatross. It's old and nothing can be changed because it's a historic building. Trump agreed to get a tax break. Resale value is zilch because of the deed restrictions.

/——/ That maybe true, but it’s still $200,000 per acre and both sides are ocean front. I admit it’s out of my budget.

 

[surada]

/——/ That maybe true, but it’s still $200,000 per acre and both sides are ocean front. I admit it’s out of my budget.

What would you do with it? You can't develop it or subside it. You can't build anything on it .

 

[para bellum]

What would you do with it? You can't develop it or subside it. You can't build anything on it .

You do with it what Trump has been doing with it for years. Permanent private residence and club. It was shown in court that it could have sold in 2011 for $705 Mn and $1.2 Bn in 2021. Trump's statements never valued it over $740 Mn.

There is nothing in the deed restrictions that make it illegal to use it as a private residence and that's how Trump valued it.

 

[Cellblock2429]

What would you do with it? You can't develop it or subside it. You can't build anything on it .

/---/ You don't know that. And WTF will NY do with it?

 

[surada]

You do with it what Trump has been doing with it for years. Permanent private residence and club. It was shown in court that it could have sold in 2011 for $705 Mn and $1.2 Bn in 2021. Trump's statements never valued it over $740 Mn.

There is nothing in the deed restrictions that make it illegal to use it as a private residence and that's how Trump valued it.

He barely breaks even and he paid 5 million for Mara Lago. The Post property is a historic estate. The State of Florida sold it because they couldn't afford it.

He couldn't get 100 million for it.

 

[surada]

You are so full of shit. Everything that it is doing now, it can continue doing into the future. That means it isn't an albatross.

Were you not a moron you would understand that the conservation decree protects Mar a Lago from taxes.

Rich people do that to historic properties to protect them all sorts of bureaucratic scumbags.

Don't you know by now that Trump is a liar?

Trump fraud trial judge says there's 'no mistake' the former president's Mar-a-Lago price-tag was 'fraudulent'

Trump's fraud-trial judge Arthur Engoron took a shot at Trump's wildly-inflated claims of Mar-a-Lago's worth in a $364 million verdict.

www.businessinsider.com

In his single largest net-worth whopper, Trump told a bank in 2018 that Mar-a-Lago was worth $739M.

He told the tax man it was worth a fraction of that and now claims it's worth north of $1 billion.

 

[surada]

I'd buy it for a dollar.

They serve caviar with a spork.

 

[surada]

When Forbes last valued the property in March, we went with a conservative $350 million." A 2022 lawsuit filed by New York Attorney General Letitia James alleged that Trump inflated the value of Mar-a-Lago to $739 million, when the property should actually be valued at $75 million.

 

[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.

She said it's worth $75 million. Trump is lying again.

 

[Seymour Flops]

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.

Exactly.

I would have no interest in owning shares in a corporation that only kept one books, to show the IRS and also to operate with as if the IRS version is not intended to be fiction. If they are that ignorant of how accounting works, I doubt they'd know how to be profitable or build stockholder value.

This reminds me of when another communist regime (besides Judge Eng-moron's) took over property. When Castrol took over Cuba, and took real estate from American companies - companies that were helping ordinary Cubans be successful financially - they paid the companies the value that the Cuban version of the IRS had allowed them to set, not the market value.

But even Castro did not try to imprison the American landowners for following the rules.