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“That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions,”who released trumps tax records
without his permission that is a criminal offense
The IRS says its 84,000 employees must attend annual training on taxpayer confidentiality. To identify snoopers, IRS computers track the electronic movements of all employees and contractors. Even an employee who legitimately opens the tax return of a neighbor of a high-profile taxpayer such as Trump could be flagged, former IRS officials say.
Here’s an example of what an agent browsing a taxpayer’s history might see:
This is why Donald Trump’s tax returns haven’t been leaked
should be easy to figure out who did it
But publishing hacked emails isn't a crime?
Yes. As far as we know, he broke no laws with that tax return and with claiming the loss.
Many things are "allowed" and "legal".....but are not things to be proud of.
What Democrats have turned down tax losses?
What a great question! Since they have all released their tax returns, we can find out. Isn't that awesome!
All Democrat politicians have released their tax returns? Bull
Presidential nominees.....yes. Going back something like 50 years.
But you knew that. All politicians? Probably most have.
In any case.....the issue here is TRUMP. A self described multi-billionaire who has created an extremely successful business empire...claiming nearly A BILLION DOLLAR LOSS in one year. That is why it is embarrassing to Trump.
You've obviously no business experience. Our tax system is idiotic. It doesn't mean shit other than that he was in big deals. Besides my own, I manage my mother and sister's portfolios. I'm always taking tax losses and deferring gains. I manage the recognition of revenue for them to minimize taxes. It doesn't remotely reflect how their portfolios are doing.
While I'm good at it and they profit from it, it's a butt stupid tax system. If we had the Fair Tax, it would eliminate all that idiocy. For myself in addition to those things, my business owns my cars so I can have my business pay for car repairs, gas, interest on the loans. At the end of the year, my accountant reduces it by 10% for personal use. But how does the IRS know what is the actual usage?
Then you get into everything that is used at both home and work. Computers, ink, paper, toilet paper, trash bags, ... How does the IRS know if it's used at work or personal if it's used at both places? We can also write off phones, Internet and other expenses we do need at home for business but we use for both.
The problem with our tax system is that we're just smarter than you. The more rules you put in place, the harder we will work to exploit them and the more successful we will be. We have to do that, Trump has to do that because otherwise the rates fuck us. But a simple, flat tax, preferably on revenue, would make more sense for everyone
Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.
Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.
Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...
Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...
The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.
http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur
Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.
Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.
. Comey is a disgrace to his profession, because he stretched the rubber band of justice so tight that it's amazing how it didn't pop and recoil back onto him... The political fear he has in prosecuting a Clinton, has turned justice on it's head. Shameful. How did government officials become above the law ??Everyone knows it it not illegal. Just like you know that Clinton has done nothing illegal according to Comey.. Nothing to see here folks, as the op should embolden the word LEGAL in black. If there is a legal loop hole for me to take when doing my taxes, and I didn't take it, then that would make me the ultimate STUPID.Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.
Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.
Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years. ...
Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss. ...
The tax experts consulted by The Times said nothing in the 1995 documents suggested any wrongdoing by Mr. Trump, even if the extraordinary size of the loss he declared would have probably attracted extra scrutiny from I.R.S. examiners. “The I.R.S., when they see a negative $916 million, that has to pop out,” Mr. Rosenfeld said.
http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur
Of course, there is nothing illegal about this. And it's rational for anyone to take that deduction. But it would certainly explain why he hasn't released his taxes, and it could be a reason why he has been under audit so much.
Should anyone be allowed to take such a huge write-off? Maximum personal deduction from capital loss on income taxes is $3000.
What Democrats have turned down tax losses?
What a great question! Since they have all released their tax returns, we can find out. Isn't that awesome!
All Democrat politicians have released their tax returns? Bull
Presidential nominees.....yes. Going back something like 50 years.
But you knew that. All politicians? Probably most have.
In any case.....the issue here is TRUMP. A self described multi-billionaire who has created an extremely successful business empire...claiming nearly A BILLION DOLLAR LOSS in one year. That is why it is embarrassing to Trump.
You've obviously no business experience. Our tax system is idiotic. It doesn't mean shit other than that he was in big deals. Besides my own, I manage my mother and sister's portfolios. I'm always taking tax losses and deferring gains. I manage the recognition of revenue for them to minimize taxes. It doesn't remotely reflect how their portfolios are doing.
While I'm good at it and they profit from it, it's a butt stupid tax system. If we had the Fair Tax, it would eliminate all that idiocy. For myself in addition to those things, my business owns my cars so I can have my business pay for car repairs, gas, interest on the loans. At the end of the year, my accountant reduces it by 10% for personal use. But how does the IRS know what is the actual usage?
Then you get into everything that is used at both home and work. Computers, ink, paper, toilet paper, trash bags, ... How does the IRS know if it's used at work or personal if it's used at both places? We can also write off phones, Internet and other expenses we do need at home for business but we use for both.
The problem with our tax system is that we're just smarter than you. The more rules you put in place, the harder we will work to exploit them and the more successful we will be. We have to do that, Trump has to do that because otherwise the rates fuck us. But a simple, flat tax, preferably on revenue, would make more sense for everyone
You do know his loss is not the kind of loss that you experience in your stock portfolio, right?
And...please....you are tryng to obscure the topic. Every business owner, myself included, has business expenses that merge with personal expenses and takes the deductions you speak of. This is not the same thing.
The interesting aspect of this is that I don't give a shit about his taxes. I want to know what he can do for this country. So far he has promised to: keep America safer by building a wall and extreme vetting of immigrants; follow immigration laws and deport illegals with crime records; negotiate better trade deals with our trading partners; speak the truth rather than what is politically correct; and bring back manufacturing so our citizens will have a job!Pride has nothing to do with the law.
Tell me do you take every "allowed" deduction or do you pay more than you have to?
Are you retarded? I never said pride has anything to do with the law. What I said is....that Trump is rightfully embarrassed by this tax return. It is legal.....he broke no laws....but he is very unhappy that it is now public.
Duh.
And....I take every allowable deduction. I still paid about 18% in 1995. Therefore, I'm not embarrassed by my return. Get it?
And do you have to publish your return ever?
No
And no political candidate has to publish theirs
No one's saying they have to. Trump has every right to conceal his tax returns and accept the political consequences.
Hillary wants to bring in thousands upon thousands of immigrants without vetting; continue with Sanctuary Cities although they are against the law; and waive college costs for everyone although she doesn't say how she'll pay for it.
You are campaign promise fueled vomit machine.
Why don't you demand that Trump tell you HOW he's going to do any of that. He doesn't, you know. Why do you STILL believe that a wall will work when most undocumented immigrants don't come over that border on foot or in cars? Why don't you know that his extreme vetting plan is absolutely unworkable and is basically a religious test that is unconstitutional? Why don't you demand that he tells you SPECIFICALLY which trade provisions he will reverse and how he'll do it? Why do you continue to say that he speaks the truth when he lies more than any presidential candidate in the history of this nation? Why don't you know that he can't bring back manufacturing jobs because they have been taken by robots?
You are supporting an empty suit.
Why don't you demand that Hillary is going to tell how she is going to manage the economy when college is going to be free? I can understand Trump not being free to talk about how he will do something that involves foreign countries.Why don't you demand that Trump tell you HOW he's going to do any of that.
How do they get here...swim?Why do you STILL believe that a wall will work when most undocumented immigrants don't come over that border on foot or in cars?
Why don't you know that his extreme vetting plan is absolutely unworkable and is basically a religious test that is unconstitutional?
He has. Check out : TradeWhy don't you demand that he tells you SPECIFICALLY which trade provisions he will reverse and how he'll do it?
There are videos of just SOME of Hillary lies. Even the FBI Director said she lies. When did he say Trump lies?Why do you continue to say that he speaks the truth when he lies more than any presidential candidate in the history of this nation?
Wow, what does that say about the millions of citizens abusing the welfare system ? Nothing but sympathy from liberals for them right ?? What about all the refugees coming from war zones who might have terrorist amongst their ranks ? Nothing but more sympathy for them right ? What about sanctuary cities that harbor criminals who can't be kept up with ? More sympathy for that situation right ? What about all the attacks here, and how the libs have made excuse after excuse for them ? More strange sympathy's from the traitorous libs. Could go on and on, but Trump doing something legal is better ammunition for you folks eh ??? ROTFLMBO.... You all are the kind of people that hate having guns so bad, that if you had one, and someone was really committing a crime, well the gun would be empty, and you all would just throw the gun at the person. LOL. Next time y'all try and get something going, how about load your guns first. Quit loading up with blanks.Either way it does not look good for Trump
He is running as such a great businessman who managed to lose close to a billion dollars in one year
He has not paid taxes in decades making him one of the 47%...a serial moocher
That is pure speculation. The party of slavery spread that rumor and you were gullible enough to fall for it hook, line and sinker.Unlike you, I have never had to learn the tax laws of higher finance. I know nothing of gains and acceptable losses. But I am shocked to learn that Mr. Trump is part of Mr. Romney's 47% that doesn't pay taxes. Who knew he is a welfare queen equivalent.The question should be, what tax laws did he break? I used a tax law to my benefit when I lost an incredible amount of money in the Nasdaq bubble. While in the bubble I was making more each month than I made for my annual salary teaching. I was taking in $75,000 a month profit.
But, as my broker explained after the bubble burst, there's the "bull, bear and pig." I was the pig in a bull market and paid dearly when the bubble burst. An accountant was recommended for me and I saw that I could deduct a large amount of my losses that year and subsequently, a smaller amount every year after. Probably for the rest of my life, lol. But my taxes are lower due to that credit.
Did I do anything illegal? No. I used the tax laws to my advantage. Just as you would do.
And, as for making poor decisions, I stayed in those stocks because I believed in America. I just couldn't believe that they would drop to the bottom and not recover. But patriotism wasn't enough. I was committed to long term investments which usually turn out to be profitable. Alas, I, and millions of others, perhaps Trump, got caught in a bad place. Trump is smart enough to continue making billions of dollars...I just was't meant to be rich! C'est Le Vie, lol.
You're right! He could have been lying when he reported that he lost a billion in a year.You don't know if he lost a billion in a year. Although, with our crazy economy, it could be right. The serial moochers are those who get welfare checks, apartment subsidies and other welfare appropriations from the government and never pay a dime in taxes!Either way it does not look good for Trump
He is running as such a great businessman who managed to lose close to a billion dollars in one year
He has not paid taxes in decades making him one of the 47%...a serial moocher
You know, a few years back, all the banks went under because they took horrible losses. What happened? The government gave them money and bailed them out.
The American people were outraged that our money had been spent to bail out the billionaires who didn't know how to manage their money.
Now? We find out that because Trump sustained nearly a BILLION dollars in losses, he managed to put himself in a position where he didn't have to pay taxes for many years.
Trump is a billionaire who didn't know how to properly manage his money. The government saw his losses and bailed him out by allowing him to not pay taxes for decades.
We were pissed that the banks got a bailout, why is everyone supporting Trump who also has received a bailout?
What a great question! Since they have all released their tax returns, we can find out. Isn't that awesome!
All Democrat politicians have released their tax returns? Bull
Presidential nominees.....yes. Going back something like 50 years.
But you knew that. All politicians? Probably most have.
In any case.....the issue here is TRUMP. A self described multi-billionaire who has created an extremely successful business empire...claiming nearly A BILLION DOLLAR LOSS in one year. That is why it is embarrassing to Trump.
You've obviously no business experience. Our tax system is idiotic. It doesn't mean shit other than that he was in big deals. Besides my own, I manage my mother and sister's portfolios. I'm always taking tax losses and deferring gains. I manage the recognition of revenue for them to minimize taxes. It doesn't remotely reflect how their portfolios are doing.
While I'm good at it and they profit from it, it's a butt stupid tax system. If we had the Fair Tax, it would eliminate all that idiocy. For myself in addition to those things, my business owns my cars so I can have my business pay for car repairs, gas, interest on the loans. At the end of the year, my accountant reduces it by 10% for personal use. But how does the IRS know what is the actual usage?
Then you get into everything that is used at both home and work. Computers, ink, paper, toilet paper, trash bags, ... How does the IRS know if it's used at work or personal if it's used at both places? We can also write off phones, Internet and other expenses we do need at home for business but we use for both.
The problem with our tax system is that we're just smarter than you. The more rules you put in place, the harder we will work to exploit them and the more successful we will be. We have to do that, Trump has to do that because otherwise the rates fuck us. But a simple, flat tax, preferably on revenue, would make more sense for everyone
You do know his loss is not the kind of loss that you experience in your stock portfolio, right?
And...please....you are tryng to obscure the topic. Every business owner, myself included, has business expenses that merge with personal expenses and takes the deductions you speak of. This is not the same thing.
Yourself included, LOL. You know shit about business and you think rich people get that way by getting lucky.
Whether or not it is the "same thing" depends on the point. In my point, it is. I want to limit taxes. If I wanted to show maximum paper profits, I wouldn't take those deductions, would I? In the axis I specified, those are all the "same thing."
Another one is my business is on a cash basis, not an accrual basis. So at the end of the year, I pay a bunch of expenses in December and don't cash checks received in late December until the first week of January.
So what tax loss do you consider acceptable? How do you know a billion is too much? Would $100 million be OK? Half a billion? What is the process you're using to determine what to you is a reasonable tax loss?
Since he can stretch it out over many years, my standard is as much as possible
Nothing? Huh.....According to whose law?Hillary is a proven crook and the establishment's pick for POTUS. Trump says a lot of stupid shit, but is not a proven crook or the establishment's pick for POTUS.The story is accurate, verified by the accountant at that time whose signature is on the documents.
But keep crying that it isn't true because you don't like it, you pathetic, partisan hack.
The USMB RW crowd has unanimously agreed that their standard response to a fact they don't like is to simply declare it untrue.
Naturally....leftists vote with the establishment and for the proven crook.
What was Hillary Clinton convicted of, again?
Were you up all night coming up with that? Take a nap.
One has to be purposely blind to NOT know the Clinton's are criminals...or just dumb.Nothing? Huh.....According to whose law?Hillary is a proven crook and the establishment's pick for POTUS. Trump says a lot of stupid shit, but is not a proven crook or the establishment's pick for POTUS.The USMB RW crowd has unanimously agreed that their standard response to a fact they don't like is to simply declare it untrue.
Naturally....leftists vote with the establishment and for the proven crook.
What was Hillary Clinton convicted of, again?
Were you up all night coming up with that? Take a nap.
Why post shit from a hard left wing source?The New York Times story alone, which both reported that Trump declared he had lost a staggering $916 million in 1995 tax forms, and that experts believe that loss could have allowed him to pay no federal income taxes for up to 18 years, fed into three lines of attack that Hillary Clinton had used to needle him in Monday's debate.
One: That his refusal to release his taxes suggested he was concealing something important. Two: That his returns might show his business acumen was overstated. Three: That he paid little or no taxes despite his vast wealth.
And it lent credence to her larger argument that Trump is a heartless scrooge who left a trail of financial destruction on his path to wealth, and who according to the Times even refused to check off a box on his tax form to donate to a veterans' memorial fund.
Trump may have had the worst week in presidential campaign history
