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What is the yearly max? Is the yearly max only 3% of his annual earnings?What's the average earnings of the every day Joe that can deduct only $3000 in Capital loss?Swish, no answer to the question:
"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?"
100k? 30K?
Say $100k....$3000 is 3% of his earned income....
then 3% of whom ever's earned income, should be the max they can take on losses each year.
It's the same for Trump, actually.
Above the $3K, either Trump or the average Joe can carry any additional losses over to the next year
they estimate he paid no taxes, taking $50 million a year as a LOSS...why is he allowed to take $50 million a year as a loss, if he only earns $50 million a year....???? Why?
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them, like Donald can write off the full $50 million of his earned income????
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them,
If you have a $100,000 capital loss on your stocks, you can write that off against capital gains next year.
If you have $50,000 in gains next year, you can use $50,000 of those losses, plus $3000 more against regular income. Now you carry forward $47,000 in losses.
like Donald can write off the full $50 million of his earned income????
He can use his business losses to write off against future business income.
You could do the same with business losses.
OK, I see where she's confused now.
Anyone can write off $3K against earned income.
Anyone can write off the rest against gains.
Anyone can carry whatever's left over to the next year.
She thinks Trump can write the $50 million off earned income, he can't. He can only write $3K off earned income
. You mean like Hillary and Bill does with all their speeches and bull crap in which has netted them millions ??? Maybe they should check whether she and Bill has turned all that income in to the IRS over the years ??Trump shouldn't have to pay taxes. He graces us with his twitters and speaches and rants. That should be enough.
Beagle, your ignorance is like a perpetual motion machine that just keeps right on giving...
Hillary Clinton's 2015 tax return shows $10.6 million in income, 31% rate -- and puts pressure on Donald Trump
. That's why I said maybe, but it still don't make what Trump did illegal right, huh, huh, huh, ???????. You mean like Hillary and Bill does with all their speeches and bull crap in which has netted them millions ??? Maybe they should check whether she and Bill has turned all that income in to the IRS over the years ??Trump shouldn't have to pay taxes. He graces us with his twitters and speaches and rants. That should be enough.
Beagle, your ignorance is like a perpetual motion machine that just keeps right on giving...
Hillary Clinton's 2015 tax return shows $10.6 million in income, 31% rate -- and puts pressure on Donald Trump
. You mean like Hillary and Bill does with all their speeches and bull crap in which has netted them millions ??? Maybe they should check whether she and Bill has turned all that income in to the IRS over the years ??Trump shouldn't have to pay taxes. He graces us with his twitters and speaches and rants. That should be enough.
Beagle, your ignorance is like a perpetual motion machine that just keeps right on giving...
Hillary Clinton's 2015 tax return shows $10.6 million in income, 31% rate -- and puts pressure on Donald Trump
Well, yeah, her bribe income is different than business income.
What is the yearly max? Is the yearly max only 3% of his annual earnings?What's the average earnings of the every day Joe that can deduct only $3000 in Capital loss?
100k? 30K?
Say $100k....$3000 is 3% of his earned income....
then 3% of whom ever's earned income, should be the max they can take on losses each year.
It's the same for Trump, actually.
Above the $3K, either Trump or the average Joe can carry any additional losses over to the next year
they estimate he paid no taxes, taking $50 million a year as a LOSS...why is he allowed to take $50 million a year as a loss, if he only earns $50 million a year....???? Why?
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them, like Donald can write off the full $50 million of his earned income????
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them,
If you have a $100,000 capital loss on your stocks, you can write that off against capital gains next year.
If you have $50,000 in gains next year, you can use $50,000 of those losses, plus $3000 more against regular income. Now you carry forward $47,000 in losses.
like Donald can write off the full $50 million of his earned income????
He can use his business losses to write off against future business income.
You could do the same with business losses.
OK, I see where she's confused now.
Anyone can write off $3K against earned income.
Anyone can write off the rest against gains.
Anyone can carry whatever's left over to the next year.
She thinks Trump can write the $50 million off earned income, he can't. He can only write $3K off earned income
He can write off $50 million of business income this year, if he carried over $50 million of losses.
It's capital gains that has the $3000 versus income limit.
Like the Libs whining about corporations not paying taxes in 2009 or 2010.
If they had huge losses in 2008 and 2009, of course they won't pay taxes until
those losses are paired off against new income in future years.
. You mean like Hillary and Bill does with all their speeches and bull crap in which has netted them millions ??? Maybe they should check whether she and Bill has turned all that income in to the IRS over the years ??Trump shouldn't have to pay taxes. He graces us with his twitters and speaches and rants. That should be enough.
Beagle, your ignorance is like a perpetual motion machine that just keeps right on giving...
Hillary Clinton's 2015 tax return shows $10.6 million in income, 31% rate -- and puts pressure on Donald Trump
Well, yeah, her bribe income is different than business income.
Speaking of which, I wonder if Trump wrote off the $25,000 bribe that he sent to the guy in Florida, as a business expense....
At least he was paying something.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 tax rules that are 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.
Now, thanks to Mr. Trump’s 1995 tax records, the degree to which he spun all those years of red ink into tax write-off gold may be finally apparent.
Mr. Mitnick was the person Mr. Trump leaned on most to do the spinning. The lawyer and accountant worked for a small Long Island accounting firm that specialized in handling tax issues for wealthy New York real estate families. Mr. Mitnick had long handled tax matters for Mr. Trump’s father, Fred C. Trump, and he said he began doing Donald Trump’s taxes after Mr. Trump turned 18.
In “Art of the Deal,” his 1987 best-selling book, Mr. Trump referred to Mr. Mitnick as “my accountant” — although he misspelled his name. Mr. Trump described consulting with Mr. Mitnick on the tax implications of deals he was contemplating and seeking his advice on how new federal tax regulations might affect real estate write-offs.
Mr. Mitnick, though, said there were times when even he, for all his years helping wealthy New Yorkers navigate the tax code, found it difficult to face the incongruity of his work for Mr. Trump. He felt keenly aware of the fact that Mr. Trump was living a life of unimaginable luxury thanks in part to Mr. Mitnick’s ability to relieve him of the burden of paying taxes like everyone else.
“Here the guy was building incredible net worth and not paying tax on it,” he said.
Much More: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for Nearly Two Decades - The New York Times
I hate tax cheats. As patriotic Americans - we should all pay our fair share of taxes.
This however is still not as bad as Romney earning $20 million per year and paying only 14% tax on it.
Trump lost money -- that is the source of his tax return deductions.
Romney was making money hand over fist and paying lower tax on it than the working poor.
The Frontline documentary has made it clear that while Trump Towers was a success for Trump, everything else that he has touched has lost money by the ton. But the bankers in the coalition agreed to keep his brand name alive in order to keep the value of his remaining assets inflated.
That's life on Wall Street.
Trump is bankrupt. Hillary guessed it already.
This however is still not as bad as Romney earning $20 million per year and paying only 14% tax on it.
Why is that bad?
Romney was making money hand over fist and paying lower tax on it than the working poor.
How much does the "working poor" have to make to pay more than 14% in Federal Income taxes?
. You mean like Hillary and Bill does with all their speeches and bull crap in which has netted them millions ??? Maybe they should check whether she and Bill has turned all that income in to the IRS over the years ??Trump shouldn't have to pay taxes. He graces us with his twitters and speaches and rants. That should be enough.
Beagle, your ignorance is like a perpetual motion machine that just keeps right on giving...
Hillary Clinton's 2015 tax return shows $10.6 million in income, 31% rate -- and puts pressure on Donald Trump
Well, yeah, her bribe income is different than business income.
Speaking of which, I wonder if Trump wrote off the $25,000 bribe that he sent to the guy in Florida, as a business expense....
Political contributions aren't deductible.
Unless you make them to the Clinton Slush Fund, of course.
What is the yearly max? Is the yearly max only 3% of his annual earnings?It's the same for Trump, actually.
Above the $3K, either Trump or the average Joe can carry any additional losses over to the next year
they estimate he paid no taxes, taking $50 million a year as a LOSS...why is he allowed to take $50 million a year as a loss, if he only earns $50 million a year....???? Why?
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them, like Donald can write off the full $50 million of his earned income????
Why do we have a cap of $3000, when we earn $100k a year...WHY cant we write off $100k in losses each year if we had them,
If you have a $100,000 capital loss on your stocks, you can write that off against capital gains next year.
If you have $50,000 in gains next year, you can use $50,000 of those losses, plus $3000 more against regular income. Now you carry forward $47,000 in losses.
like Donald can write off the full $50 million of his earned income????
He can use his business losses to write off against future business income.
You could do the same with business losses.
OK, I see where she's confused now.
Anyone can write off $3K against earned income.
Anyone can write off the rest against gains.
Anyone can carry whatever's left over to the next year.
She thinks Trump can write the $50 million off earned income, he can't. He can only write $3K off earned income
He can write off $50 million of business income this year, if he carried over $50 million of losses.
It's capital gains that has the $3000 versus income limit.
Like the Libs whining about corporations not paying taxes in 2009 or 2010.
If they had huge losses in 2008 and 2009, of course they won't pay taxes until
those losses are paired off against new income in future years.
I understand that, we're discussing different things and I'm trying to clarify them together and am not saying it right. They are different things, you are saying it right. Thanks for clarifying.
The point though is that there are not different rules for Trump or Joe on the street. Business losses and capital gains for both can be used to the same limits then carried over
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
What's the LOL for? You question me AGAIN? How many times will you eat crow before you decide to stop doing that?
We are not talking about what YOU do. We are talking about TRUMP'S operating loss of almost a BILLION DOLLARS.
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
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
What's the LOL for? You question me AGAIN? How many times will you eat crow before you decide to stop doing that?
We are not talking about what YOU do. We are talking about TRUMP'S operating loss of almost a BILLION DOLLARS.
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
Why do you think I don't know the difference? I've not said anything that would give you that impression.
It isn't a matter of "understanding" business with me, bro...it's a matter of practical experience. I own two successful businesses. I'm happy to pay my fair share.
Sadly, that is the case. I think Trump was correct - he could have shot someone in front of the world and no one would have cared. What he didn't say is that everyone would have cared deeply if he made funny noises into a microphone while doing it.Possibly. There is no real evidence of that though - using his funds for personal use. There is evidence that he used his foundation to pay a for a legal fine that was charged to his business. AFAIK, that is illegal but there is no reporting on it anymore. That tells me there is more to the story than has been reported and I have to wonder what the whole story is.
There's also the paintings, football memorabilia, etc. It's just a hunch I have. I agree that we should be seeing more coverage on this kind of stuff. But it's 2016, the masses don't want information they want entertainment.
The American electorate has become a sick joke.
Hillary did kill 4 people and no one cared.
Yes, the American electorate is a sick joke
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
What's the LOL for? You question me AGAIN? How many times will you eat crow before you decide to stop doing that?
We are not talking about what YOU do. We are talking about TRUMP'S operating loss of almost a BILLION DOLLARS.
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
Why do you think I don't know the difference? I've not said anything that would give you that impression.
It isn't a matter of "understanding" business with me, bro...it's a matter of practical experience. I own two successful businesses. I'm happy to pay my fair share.
Sadly, that is the case. I think Trump was correct - he could have shot someone in front of the world and no one would have cared. What he didn't say is that everyone would have cared deeply if he made funny noises into a microphone while doing it.Possibly. There is no real evidence of that though - using his funds for personal use. There is evidence that he used his foundation to pay a for a legal fine that was charged to his business. AFAIK, that is illegal but there is no reporting on it anymore. That tells me there is more to the story than has been reported and I have to wonder what the whole story is.
There's also the paintings, football memorabilia, etc. It's just a hunch I have. I agree that we should be seeing more coverage on this kind of stuff. But it's 2016, the masses don't want information they want entertainment.
The American electorate has become a sick joke.
Hillary did kill 4 people and no one cared.
Yes, the American electorate is a sick joke
Hillary didn't kill anyone.
That shit is why you don't get the benefit of the doubt from intelligent people. That's a retarded thing to say.
What's the LOL for? You question me AGAIN? How many times will you eat crow before you decide to stop doing that?
We are not talking about what YOU do. We are talking about TRUMP'S operating loss of almost a BILLION DOLLARS.
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
Why do you think I don't know the difference? I've not said anything that would give you that impression.
It isn't a matter of "understanding" business with me, bro...it's a matter of practical experience. I own two successful businesses. I'm happy to pay my fair share.
I say you don't know the difference because you don't realize that Trump had to pay the money he's writing off as losses now. You also think it's operating losses and don't grasp the difference between that and tax losses.
As I asked Care4AllLiberals, if I pay $50 for a share of stock, then I sell it for $50, why do I need to pay taxes on the $50? I just got my money back?
If Trump spent billions on his business, why does he have to pay taxes to get the money back he put in that aren't even profits?
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
Why do you think I don't know the difference? I've not said anything that would give you that impression.
It isn't a matter of "understanding" business with me, bro...it's a matter of practical experience. I own two successful businesses. I'm happy to pay my fair share.
I say you don't know the difference because you don't realize that Trump had to pay the money he's writing off as losses now. You also think it's operating losses and don't grasp the difference between that and tax losses.
As I asked Care4AllLiberals, if I pay $50 for a share of stock, then I sell it for $50, why do I need to pay taxes on the $50? I just got my money back?
If Trump spent billions on his business, why does he have to pay taxes to get the money back he put in that aren't even profits?
Let me ask you a question. Do you know that clause which allows Trump to carry over that incredible loss is called the NET OPERATING LOSS provision. Do you know why that is different from the losses that regular businesses are permitted to carry over?
Do you even look at the released pages?
You likely know more about tax law than I do. Congratulations. But you need to grasp what TRUMP did here. It is not what you seem or think it is. It's shit that can only be taken advantage of by people who work the system in ways that exceed the normal businessman trying to reduce his tax burden.
Sadly, that is the case. I think Trump was correct - he could have shot someone in front of the world and no one would have cared. What he didn't say is that everyone would have cared deeply if he made funny noises into a microphone while doing it.Possibly. There is no real evidence of that though - using his funds for personal use. There is evidence that he used his foundation to pay a for a legal fine that was charged to his business. AFAIK, that is illegal but there is no reporting on it anymore. That tells me there is more to the story than has been reported and I have to wonder what the whole story is.
There's also the paintings, football memorabilia, etc. It's just a hunch I have. I agree that we should be seeing more coverage on this kind of stuff. But it's 2016, the masses don't want information they want entertainment.
The American electorate has become a sick joke.
Hillary did kill 4 people and no one cared.
Yes, the American electorate is a sick joke
Hillary didn't kill anyone.
That shit is why you don't get the benefit of the doubt from intelligent people. That's a retarded thing to say.
Since when did you get to speak for "intelligent people?" And yeah, leaving Stevens and his cohorts there when they were begging for help because it was politically inconvenient to provide it was killing them.
How about all the American troops she killed as well as Iranians, Syrians and Afghanis when she voted for the wars that were not for the defense of the American people?
If you buy a stock for 50 then sell it for 50 you owe no tax as there is no profit to tax.What's the LOL for? You question me AGAIN? How many times will you eat crow before you decide to stop doing that?
We are not talking about what YOU do. We are talking about TRUMP'S operating loss of almost a BILLION DOLLARS.
Swish, no answer to the question:
"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?"
Hello again, stupid. You are tiresome.
Please note AGAIN that I have not said that Trump did anything illegal.
What he did was fuck up in the fucking casino business and claim a loss of nearly a BILLION DOLLARS.
We won't know the pertinent details until he releases his full returns. We don't know just how much of a loser he was because he won't tell us.
Now.....what was the LOL for? What are you questioning?
You say you understand business but you still don't understand the difference between losses and tax losses.
And again, you said a billion is too high a tax loss. I want to know what methodology you're using to determine that
Why do you think I don't know the difference? I've not said anything that would give you that impression.
It isn't a matter of "understanding" business with me, bro...it's a matter of practical experience. I own two successful businesses. I'm happy to pay my fair share.
I say you don't know the difference because you don't realize that Trump had to pay the money he's writing off as losses now. You also think it's operating losses and don't grasp the difference between that and tax losses.
As I asked Care4AllLiberals, if I pay $50 for a share of stock, then I sell it for $50, why do I need to pay taxes on the $50? I just got my money back?
If Trump spent billions on his business, why does he have to pay taxes to get the money back he put in that aren't even profits?
