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Truth About The Taxes


BoyzNdaHood

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37 minutes ago, JETT said:

Sounds like some of you dont know how businesses work... you can only write off so much until the government catches on then your in deep doo doo.... i write off everything i can and then some  ut its not enough to where i don't have to pay in.... 

You wrote off the depreciating assets like your trucks and equipment right? Do that with buildings now. 

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18 minutes ago, NATUREBOY98 said:

Do you not remember he was hit with not paying income taxes for like a decade during the Republican debates? One year he took a loss of just short of a billion dollars. He could stretch that loss out over many years. He told them on stage, listen y’all write the tax laws, I don’t. You put the loopholes in, I didn’t. He didn’t write the tax code. He follows it. Is some of it shady? Probably. Warren Buffett once said his secretary paid more taxes % wise than he did. All the elites do it. It’s a big f’ing club, and we ain’t in it. 

I agree 

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He paid in 1 mill in 2016 and 4 mill in 2017 - Plus and extra 750 dollars 

https://www.redstate.com/nick-arama/2020/09/28/nyt-puts-a-stake-thru-the-heart-of-its-own-claim-of-what-trump-paid-in-taxes-lets-other-disturbing-info-slip-out/

 

As he settled into the Oval Office, his tax bills soon returned to form. His potential taxable income in 2016 and 2017 included $24.8 million in profits from sources related to his celebrity status and $56.4 million for the loans he did not repay. The dreaded alternative minimum tax would let his business losses erase only some of his liability.

Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.

To cancel out the tax bills, Mr. Trump made use of $9.7 million in business investment credits, at least some of which related to his renovation of the Old Post Office hotel, which qualified for a historic-preservation tax break. Although he had more than enough credits to owe no taxes at all, his accountants appear to have carved out an allowance for a small tax liability for both 2016 and 2017.

When they got to line 56, the one for income taxes due, the amount was the same each year: $750.

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I guarantee you anyone in business with the kind of complex and diverse investments, real estate dealings, construction operations and dozens of other business related transactions the size and scope of Donald Trump's business operations could be nit picked to death and made to look bad by a fact twisting liberal reporter or political operative .... I am far less worried about the taxes or business dealings of a billionaire who came to Washington to drain the swamp than corrupt political hacks like Pelosi and Biden who's corrupt political dealings made them multi millionaires while in office for decades .... yes, I think their taxes and income streams would be far more interesting if you are looking for corruption than President Trumps ....

Edited by KirtFalcon
yo mama
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1 minute ago, Youngcoach123 said:

He seems like people are completely missing the fact he paid 5 million in taxes while donating his presidency checks of 800k at the same time. Why is that?

That doesn't fit the narrative of the "HATE TRUMP" all the time. If Uncle Joe donated $20 dollars to the Red Cross, it would be national news. Just goes to show you how the media wants to control the country and the narrative. I mean, look at who posted this thread--another parrot. 

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2 minutes ago, Sportsfanatic1 said:

Fact-One year he did write off 70 grand for hair do's :rofl:

If it is legal to write off, then maybe the tax laws should change. If it was ILLEGAL, then why hasn't the IRS arrested him, indicted him, or whatever they do when they catch tax cheats? 

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Just now, DAWG91 said:

If Trump ever cheated on his taxes you can rest assured the deep-state IRS would be all over him.  This is just another desperate nothing burger on the neverending buffet of notjing burgers.  SSDD

Just in time to attempt to sabotage the debates. Try to distract everyone with BS & force Trumps people to counter the allegations instead of concentrate on the debate.

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3 minutes ago, JETT said:

If he paid his fair share they will clear him of any wrongdoings...

This is your best answer, IF--they have had YEARS to prove something, an entire army of IRS agents and you still want to believe that the President has done something wrong. Whose the ostrich with their head in the sand these days. SMFH. Come on Jett, you're better than that. 

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Just now, DannyZuco said:

This is your best answer, IF--they have had YEARS to prove something, an entire army of IRS agents and you still want to believe that the President has done something wrong. Whose the ostrich with their head in the sand these days. SMFH. Come on Jett, you're better than that. 

Why's he been under audit for so long? 🤔

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1 minute ago, JETT said:

Why's he been under audit for so long? 🤔

Because he is a GOP President and was  Presidential candidate--plus he's rich and probably had some dings on his taxes. Probably as many as I have. But because he is wealthy, but I am not saying that he isn't a tax cheat, because I am sure he is using the tax code to his advantage. But since 2016 alone, when he started winning the nomination, you'd think that obama army of IRS agents would have taken him down by now. Which leads me to believe, after at least 4 years--they still only have an article in the New York Times without a single piece of evidence. 

Since I am not a tax lawyer, I can't explain why it's been so long though. But why do some law suits take up to 10 years to come to a conclusion. Because a good lawyer can probably extend anything, well except his man hood. LOL. 

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