WaitingFor2020
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I have said this here and there and everywhere: http://www.nytimes.com/2016/08/12/b...trump-pay-in-taxes-it-could-be-zero.html?_r=0
and this is why he won't release his returns.
How Much Does Donald Trump Pay in Taxes? It Could Be Zero
Even with hundreds of millions in gross revenue from his vast real estate empire, “it’s both possible and legal that Donald Trump would pay little or no income tax,” said Len Green, an accountant and chairman of the Green Group, a tax and accounting advisory firm. Mr. Green is also a real estate investor, teaches at Babson College and is the author of the forthcoming “The Entrepreneur’s Playbook.”
“I would expect he’s paying little or no tax,” agreed Steven M. Rosenthal, a veteran tax lawyer and senior fellow at the Urban-Brookings Tax Policy center.
That’s because Mr. Trump, as a prominent and active developer, can take advantage of some of the most generous tax breaks in the federal tax code to reduce his reported income to near zero, or even report a loss.
Few tax advisers to major real estate developers would speak for attribution, because their clients benefit from the same tax breaks available to Mr. Trump. But all told me they knew developers in Mr. Trump’s league who pay little or no income tax despite hundreds of millions in cash flow.
“Real estate is notorious for throwing off huge deductions,” Mr. Rosenthal said. “That coupled with wide latitude in the timing and recognition of income make real estate development extremely attractive from a tax standpoint.”
"""Mr. Trump has said in the past that highly paid corporate executives “get away with murder” on their taxes while boasting that he pays as little as the law allows. At the same time, he has insisted that his federal income tax payments are “substantial.”
and this is why he won't release his returns.
How Much Does Donald Trump Pay in Taxes? It Could Be Zero
Even with hundreds of millions in gross revenue from his vast real estate empire, “it’s both possible and legal that Donald Trump would pay little or no income tax,” said Len Green, an accountant and chairman of the Green Group, a tax and accounting advisory firm. Mr. Green is also a real estate investor, teaches at Babson College and is the author of the forthcoming “The Entrepreneur’s Playbook.”
“I would expect he’s paying little or no tax,” agreed Steven M. Rosenthal, a veteran tax lawyer and senior fellow at the Urban-Brookings Tax Policy center.
That’s because Mr. Trump, as a prominent and active developer, can take advantage of some of the most generous tax breaks in the federal tax code to reduce his reported income to near zero, or even report a loss.
Few tax advisers to major real estate developers would speak for attribution, because their clients benefit from the same tax breaks available to Mr. Trump. But all told me they knew developers in Mr. Trump’s league who pay little or no income tax despite hundreds of millions in cash flow.
“Real estate is notorious for throwing off huge deductions,” Mr. Rosenthal said. “That coupled with wide latitude in the timing and recognition of income make real estate development extremely attractive from a tax standpoint.”
"""Mr. Trump has said in the past that highly paid corporate executives “get away with murder” on their taxes while boasting that he pays as little as the law allows. At the same time, he has insisted that his federal income tax payments are “substantial.”
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