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Here's where it gets interesting for Trump: To be eligible for STAR, a married couple must have annual income of $500,000 or less. One wouldn't think a guy as rich as Trump claims to be would qualify, but records filed with the city's Department of Finance show he received a $302 STAR benefit on his latest property-tax bill for his Trump Tower penthouse on Fifth Avenue.
That means whatever his annual income is, it's less than $500,000.
"It's strange that a billionaire would apply for a $302 tax benefit and, moreover, that he would take it," said Martha Stark, a property-tax expert and former New York City finance commissioner who is now a lecturer at Baruch College.
Retained earnings. Many corporations do it. Not so much for tax savings. Instead for use for future ventures. Of course, if they are not used for future ventures down the road, the shareholders will get them as distributions and pay the personal tax rate they are slated for at that time.Trumps reality show was making him millions a year. I think he pocketed over 60 million for a 2 season contract. I read that somewhere long ago. Maybe im wrong
He did not sit down and apply for the Star Exemption. Likely his closing attorney did. Not because Trump "made sure he did"...instead, because it is standard operating procedure for a real estate attorney who handled the closing.Original source of this story: Trump qualified for a tax break for New Yorkers making $500K or less
Here's where it gets interesting for Trump: To be eligible for STAR, a married couple must have annual income of $500,000 or less. One wouldn't think a guy as rich as Trump claims to be would qualify, but records filed with the city's Department of Finance show he received a $302 STAR benefit on his latest property-tax bill for his Trump Tower penthouse on Fifth Avenue.
That means whatever his annual income is, it's less than $500,000.
"It's strange that a billionaire would apply for a $302 tax benefit and, moreover, that he would take it," said Martha Stark, a property-tax expert and former New York City finance commissioner who is now a lecturer at Baruch College.
Does anyone actually think Trump sits down and does his own taxes?
Does anyone actually think Trump sits down and does his own taxes?
sure, the same people that believed Obama should repair a drillhead 5000 feet below the surface of the Gulf.
regardless, he should be totally aware with his taxes because he signs them. If he isn't he's lax in his responsibility as a billionaire businesman. not to mention POTUS.
if he signs legal documents without knowing what hes signing, I can arrange a 100$ million transfer from his bank to my account before dark tonight.
