Trump May Have Avoided Paying Taxes for Nearly Two Decades

[NYcarbineer]

As we know, left wing business owners don't take available deductions, because then they wouldn't be paying their "fair share".

Warren Buffett and Bill Gates specifically instruct their accountants and CPAs to avoid using any deductions, credits or loopholes.

I think we all know this.
.

That's your defense of Trump's business acumen? lol, you get better at this every day.

Why do you have to come in and ruin these discussions for all of us who actually have a clue what is going on? Your rhetoric is stupid, you are stupid... Why not go get some knowledge and come back?

Everyone minimizes their taxes, this is common knowledge. Go away troll.

It isn't hard to minimize your taxes when your business ventures lose a billion bucks in a year.

That's MY point.

Trump has done very well in business so again, go away troll. It's an uncertain field, and I am not that sure what you say is even true. Not that you care... you absorb the mainstream propaganda bought and paid for by Clinton in full.

He has really?

Feel free to refute, with substance, this record of Trump's business failures:

Donald Trump's business failures: a comprehensive guide

 

[Mac1958]

No, that's not my defense of Trump's business acumen.

That's my mockery of your abject ignorance.
.

Where have I EVER been wrong on this subject? Be specific.

You appear to be completely flummoxed by the fact that otherwise successful businesses sometimes lose money.

You just keep posting about it, no matter what.

That's not just wrong, it's very funny.
.

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

 

[LoneLaugher]

Where have I EVER been wrong on this subject? Be specific.

You appear to be completely flummoxed by the fact that otherwise successful businesses sometimes lose money.

You just keep posting about it, no matter what.

That's not just wrong, it's very funny.
.

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Why are you pretending that these are corporate tax returns?

 

[NYcarbineer]

Where have I EVER been wrong on this subject? Be specific.

You appear to be completely flummoxed by the fact that otherwise successful businesses sometimes lose money.

You just keep posting about it, no matter what.

That's not just wrong, it's very funny.
.

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Donald Trump's business failures: a comprehensive guide

 

[Mac1958]

You appear to be completely flummoxed by the fact that otherwise successful businesses sometimes lose money.

You just keep posting about it, no matter what.

That's not just wrong, it's very funny.
.

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Why are you pretending that these are corporate tax returns?

Why are you pretending that I'm pretending these are his corporate tax returns?

Oh yeah, you're you.
.

 

[kaz]

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. And do you know why Trump benefits from it more than more traditional businesses owners ever could?

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.

Again you're proving you know ZERO about business.

Every tax loss in a business was from one of two things:

1) Money the owners put into the company which they paid taxes on when they earned it

2) Money the company made and the owners paid taxes on when they earned it

Money in a company can't come from nowhere. Honestly, your lie that you own two businesses is, wow, incredible given your lack of knowledge of even the basics of business.

The point is, taxes were paid on the money that became losses. The most common losses, particularly early in a business, are from the owner getting money back they put into the company, which is why I assumed that. But either way, the losses are against money that was taxed

You just called me a liar again. What's your problem. We've gone over this before. Why won't you admit your error?

You probably think capital gains taxes are bullshit, right? You are talking yourself into circles. The subject it Net Operating Losses and how owners of complex businesses can take max advantage of the provision.

And....this isn't a business discussion, douchebag....it's a tax discussion. I thought you knew something about taxes....but now I'm not so sure. Your numbers one and two above being the only losses that a business can claim is retarded.

Time for you to say something intelligent.

Yes, capital gains taxes are bullshit. And it's a business tax discussion. I can't believe someone who knows nothing about business taxes runs businesses. I have a CPA prepare my taxes, I don't prepare my own taxes. But I'm all over how they work. How can you not be and run your business effectively? And as I said, I've proposed strategies to him. CPAs fill out forms. Tax strategy is a business issue

I'm as all over them as you are pal. I run very simple businesses. I make money....and I pay taxes. That's the way it works.

Trump finding ways to pay ZERO taxes goes beyond the realm of being a good businessman. That's why this is a tax discussion and not a business discussion.

And I think capital gains taxes are legit. All income should be taxed. I earn money with my business...it's taxed. I invest profits and earn more money...it's taxed. No problem. It's how it's done.

He only pays zero taxes on money that he invested and already paid taxes on and invested in his business, and he'll pay taxes if/when he makes the money back. If you were an actual business owner, you'd know that

 

[Ray From Cleveland]

I'm as all over them as you are pal. I run very simple businesses. I make money....and I pay taxes. That's the way it works.

Trump finding ways to pay ZERO taxes goes beyond the realm of being a good businessman. That's why this is a tax discussion and not a business discussion.

And I think capital gains taxes are legit. All income should be taxed. I earn money with my business...it's taxed. I invest profits and earn more money...it's taxed. No problem. It's how it's done.

And you never had any write-offs?

 

[bullwinkle]

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!

Trump is worse than all the welfare mooches combined

They may scam the taxpayer for $20,000 while Trump scams the taxpayer for a billion dollars

Conservatives have been pushing for simpler tax plans for decades. Where have you been?


If Trump plays by the rules, YOUR RULES, then what ground for complaint do you have?

Simpler plans that drastically reduce the tax burden of the wealthy while increasing taxes on the working poor

Show one that doesn't

Trump plays by the rules?
So do the working poor who don't pay taxes

Guess which group Republicans bitch about?

you can read the law right here

leftards are always such crooked folks

maybe that is why they support groups like fuck the police

and such

26 U.S. Code § 6103 - Confidentiality and disclosure of returns and return information

Jon, when have I ever supported a group like that you mention about police...OR not paid my taxes? Of course my taxes come from the chart in the 1040 pamphlet...for Fed, State and City.

if you vote for hillary you are supporting the Fuck the Police movement

how the fuck do you know or think that you know that Trump has not paid his taxes due

What's happened to you, jon?

nothing

i am sick of those who go along with the likes of the corrupt politicians

what happened to you

making assumptons that trump hasnt paid his taxes due for example

OK jonny, I'll stay away from irking you. But my assumptions about taxes is not taxes due. It is about taxes claimed, not claimed, charitable giving, losses incurred, etc. My assumptions that he has something yuuuge to hide is no less valid than yours about Emails.. Bye, jonny, I'll miss you. Be well, you and all of yours.

 

[LoneLaugher]

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Why are you pretending that these are corporate tax returns?

Why are you pretending that I'm pretending these are his corporate tax returns?

Oh yeah, you're you.
.

I am crossing threads. You compared Trumps losses to Amazon's losses in another thread. You know what you are doing. Lame. Believe me.

 

[beagle9]

Trump should have released his taxes when he was at 3% in the polls last year

Nobody would have cared and we wouldn't be talking about it now.

. Nah it was better to use it as a TRUMP card... lol... More to come Hillary.

 

[Mac1958]

You appear to be completely flummoxed by the fact that otherwise successful businesses sometimes lose money.

You just keep posting about it, no matter what.

That's not just wrong, it's very funny.
.

Sometimes? lol

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Donald Trump's business failures: a comprehensive guide

Wow, that's really helpful, thank you.

Of course, as an independent, I would want to know the other side of the story. You wouldn't understand.

And it's irrelevant, because I don't like the guy and I'm not voting for him.
.

 

[Ray From Cleveland]

If Trump was losing twice as much money on a regular basis,

would you guys double your praise of his skill as a businessman?

He's way more successful than anybody here on USMB and probably anybody in the town where you live.

 

[LoneLaugher]

I'm as all over them as you are pal. I run very simple businesses. I make money....and I pay taxes. That's the way it works.

Trump finding ways to pay ZERO taxes goes beyond the realm of being a good businessman. That's why this is a tax discussion and not a business discussion.

And I think capital gains taxes are legit. All income should be taxed. I earn money with my business...it's taxed. I invest profits and earn more money...it's taxed. No problem. It's how it's done.

And you never had any write-offs?

You might be a retard. I have many write offs. Not related to the subject of this thread.

 

[Mac1958]

Uh, yes.

My goodness. You really have no clue.
.

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Why are you pretending that these are corporate tax returns?

Why are you pretending that I'm pretending these are his corporate tax returns?

Oh yeah, you're you.
.

I am crossing threads. You compared Trumps losses to Amazon's losses in another thread. You know what you are doing. Lame. Believe me.

Yes, I'm dealing with the standard leg-humping that I get from hardcore partisan ideologues on both ends.

NY doesn't understand that businesses sometimes lose money. I wasn't focusing on Trump, I was talking about business.

But people like you choose not to see that obvious fact, which is why you're a waste of time.
.
.

 

[LoneLaugher]

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. And do you know why Trump benefits from it more than more traditional businesses owners ever could?

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.

Again you're proving you know ZERO about business.

Every tax loss in a business was from one of two things:

1) Money the owners put into the company which they paid taxes on when they earned it

2) Money the company made and the owners paid taxes on when they earned it

Money in a company can't come from nowhere. Honestly, your lie that you own two businesses is, wow, incredible given your lack of knowledge of even the basics of business.

The point is, taxes were paid on the money that became losses. The most common losses, particularly early in a business, are from the owner getting money back they put into the company, which is why I assumed that. But either way, the losses are against money that was taxed

You just called me a liar again. What's your problem. We've gone over this before. Why won't you admit your error?

You probably think capital gains taxes are bullshit, right? You are talking yourself into circles. The subject it Net Operating Losses and how owners of complex businesses can take max advantage of the provision.

And....this isn't a business discussion, douchebag....it's a tax discussion. I thought you knew something about taxes....but now I'm not so sure. Your numbers one and two above being the only losses that a business can claim is retarded.

Time for you to say something intelligent.

Yes, capital gains taxes are bullshit. And it's a business tax discussion. I can't believe someone who knows nothing about business taxes runs businesses. I have a CPA prepare my taxes, I don't prepare my own taxes. But I'm all over how they work. How can you not be and run your business effectively? And as I said, I've proposed strategies to him. CPAs fill out forms. Tax strategy is a business issue

I'm as all over them as you are pal. I run very simple businesses. I make money....and I pay taxes. That's the way it works.

Trump finding ways to pay ZERO taxes goes beyond the realm of being a good businessman. That's why this is a tax discussion and not a business discussion.

And I think capital gains taxes are legit. All income should be taxed. I earn money with my business...it's taxed. I invest profits and earn more money...it's taxed. No problem. It's how it's done.

He only pays zero taxes on money that he invested and already paid taxes on and invested in his business, and he'll pay taxes if/when he makes the money back. If you were an actual business owner, you'd know that

You are talking out of your ass now. You've said that same line of bull a dozen times now. It's pure BS.

You don't know what he paid on what. All,you know is that he paid ZERO in 1995.

 

[Mac1958]

The ironic thing here is that there are so many other valid possible criticisms of Trump.

All they're doing here is showcasing their blatant partisanship, intellectual dishonesty and ignorance.
.

 

[Wyatt earp]

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.

If it was legal of course it should be allowed

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.

Yup like baby killing

 

[LoneLaugher]

Another Trumptard comes out of the closet. Big surprise.

I don't like Trump, and I'm voting for Hillary, my binary-thinking friend.

So you're wrong, again.

And it doesn't deflect from your aggressive ignorance, no matter how hard you try.

I'm guessing you're not even embarrassed.
.

Why are you pretending that these are corporate tax returns?

Why are you pretending that I'm pretending these are his corporate tax returns?

Oh yeah, you're you.
.

I am crossing threads. You compared Trumps losses to Amazon's losses in another thread. You know what you are doing. Lame. Believe me.

Yes, I'm dealing with the standard leg-humping that I get from hardcore partisan ideologues on both ends.

NY doesn't understand that businesses sometimes lose money. I wasn't focusing on Trump, I was talking about business.

But people like you choose not to see that obvious fact, which is why you're a waste of time.
.
.

NY knows that businesses lose money. You accused him of that without cause.

You are weirdly defending Trump for claiming huge losses on his personal returns by talking about businesses losing money.

 

[Ray From Cleveland]

You might be a retard. I have many write offs. Not related to the subject of this thread.

It's directly related because according to you, you are doing nothing different than Trump, it's just that Trump has more write-offs than you.

 

[LoneLaugher]

The ironic thing here is that there are so many other valid possible criticisms of Trump.

All they're doing here is showcasing their blatant partisanship, intellectual dishonesty and ignorance.
.

How?

What do you think I am criticizing him for in this thread?

A) Not paying taxes?

B) Being a mediocre businessman?