Trump Engaged In ‘Outright Fraud’ To Help Family Save Hundreds Of Millions In Taxes

It might be legal but that's the problem. THE WEALTHY MAKES THE LAWS.

The system is rigged to support the wealthy.
 
Avoiding taxes is not illegal. Since they are scant on details of how this was achieved and they decided to use "today's" money to pump up the actual figures, I am inclined to believe the story is another much ado about nothing. It could be that the dad just conveyed partial interests in property ever year to avoid gift taxes until the whole thing was conveyed over. Accountants additionally value partial interest at less than pro-rated value i.e. a 10% interest on a $100K piece of property may have a market value of $6K instead of $10K.
 
Kacper said:
Avoiding taxes is not illegal. Since they are scant on details of how this was achieved and they decided to use "today's" money to pump up the actual figures, I am inclined to believe the story is another much ado about nothing. It could be that the dad just conveyed partial interests in property ever year to avoid gift taxes until the whole thing was conveyed over. Accountants additionally value partial interest at less than pro-rated value i.e. a 10% interest on a $100K piece of property may have a market value of $6K instead of $10K.
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you can convince yourself of that? Amazing. The article is about the illegal things they did to avoid taxes. ILLEGAL. The state of NY is looking at it now. He is not just another rich guy, but a president who never felt he should pay for all the benefits that rich people get in America. The president does not pay for the military, yet he is head of it. He does not want to pay for the infrastructure, which he used in huge quantities. Trump has no values outside of himself.
 
Nordberg said:
you can convince yourself of that? Amazing. The article is about the illegal things they did to avoid taxes. ILLEGAL. The state of NY is looking at it now. He is not just another rich guy, but a president who never felt he should pay for all the benefits that rich people get in America. The president does not pay for the military, yet he is head of it. He does not want to pay for the infrastructure, which he used in huge quantities. Trump has no values outside of himself.
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You clearly have convinced yourself of facts not presented by the NYT. The only specific detail they gave was as to building supplies. Their yammering on about property being valued differently for different purposes is not unusual at all. Gifted investment property is subject to the dual basis rules.
 
PostmodernProphet said:
I will bet you a thirty day ban it isn't illegal......
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Have at it. But then lets be specific. What is it? His taxes are legal or have you culled out a piece to make representative? Are you saying he is clear if the statute of limitations falls in. Meaning he cheated and got away with it?
 
Kacper said:
Avoiding taxes is not illegal. Since they are scant on details of how this was achieved and they decided to use "today's" money to pump up the actual figures, I am inclined to believe the story is another much ado about nothing. It could be that the dad just conveyed partial interests in property ever year to avoid gift taxes until the whole thing was conveyed over. Accountants additionally value partial interest at less than pro-rated value i.e. a 10% interest on a $100K piece of property may have a market value of $6K instead of $10K.
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It sure exposes the massive Trump lie that his dad gave him a $1 million loan that he repaid, doesn't it?
 
Adolf_Twitler said:
If you ever want to know what you are dealing with and what Republicans believe in general, just watch this.......

And there are a ton of these films about Republicans on Youtube!


This should make you get off your ass and go vote!
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literally subhuman white inbred trash
 
domer76 said:
It sure exposes the massive Trump lie that his dad gave him a $1 million loan that he repaid, doesn't it?
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That he says he paid. His dad was funneling money to him non stop. When Daffy was destroying his casino, his dad had a guy go but 3.5 million bucks in chips, then bag them up and take them home.When that fell short, he sent him back for another 150 k. Daffy was bleeding his dad his whole life.
 
Nordberg said:
Have at it. But then lets be specific. What is it? His taxes are legal or have you culled out a piece to make representative? Are you saying he is clear if the statute of limitations falls in. Meaning he cheated and got away with it?
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precisely what I said..... that the allegations raised by the NYT are not tax fraud....

*GRIND*GRIND*
please make note that nordnerd and I have a ban bet in place......
you might as well ban him now....he's already lost
 
TTQ64 said:
THIS IS WHY HE WON'T SHOW HIS TAX RETURNS...…...AND THIS IS WHY THE REALESTATE MARKET IS SO CORRUPT.


Trump Engaged In ‘Outright Fraud’ To Help Family Save Hundreds Of Millions In Taxes: NYT

The Times alleges that Trump set up a fake corporation to disguise millions of dollars in gifts from their parents.


WASHINGTON (Reuters) - U.S. President Donald Trump engaged in tax schemes that included cases of outright fraud in which he and his siblings helped their parents dodge taxes, the New York Times reported on Tuesday.


The Times investigation, which a Trump lawyer said was inaccurate, showed Trump received the equivalent today of at least $413 million from his father’s real estate business, citing a “vast trove” of confidential tax return and financial records.




The Times reported that much of that fortune came to Trump because he helped his parents evade taxes, setting up a fake corporation with his siblings to disguise millions of dollars in gifts from their parents. During his presidential campaign, Trump promoted himself as a self-made real estate mogul who started out with only a “very small” loan from his businessman father, Fred Trump.”


The Times said its findings were based on more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts. The records did not include Donald Trump’s personal tax returns. Trump lawyer Charles Harder told the Times: “President Trump had virtually no involvement whatsoever with these matters.”

Harder added: “The affairs were handled by other Trump family members who were not experts themselves and therefore relied entirely upon the aforementioned licensed professionals to ensure full compliance with the law.”

The White House did not immediately respond to a request for comment on the report. Reuters has not been able to verify the report.

The New York State Tax Department said on Tuesday that it was probing the allegations laid out in the Times report.

Statement from the NY State Taxation authority, regarding this blockbuster NYT story: “The Tax Department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation.” https://t.co/rACzwJPPx0
— David Fahrenthold (@Fahrenthold) October 2, 2018
The newspaper said the report was based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings of his business empire.

“The investigation also draws on tens of thousands of pages of confidential records — bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks,” the Times said.







https://www.huffingtonpost.com/entry/donald-trump-tax-fraud_us_5bb3d403e4b0876eda99339b
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Trump is a FRAUD.
 
PostmodernProphet said:
precisely what I said..... that the allegations raised by the NYT are not tax fraud....

*GRIND*GRIND*
please make note that nordnerd and I have a ban bet in place......
you might as well ban him now....he's already lost
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Buisness and economic fraud. Surely fraud. Like his dad buying casino chips, which was determined an illegal loan. Trump got away with a fine for that fraud. have to wait for Ny to go through his taxes to see how much fraud he comitted in finances.
 
Nordberg said:
Buisness and economic fraud. Surely fraud. Like his dad buying casino chips, which was determined an illegal loan. Trump got away with a fine for that fraud. have to wait for Ny to go through his taxes to see how much fraud he comitted in finances.
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the bet is about the NYT allegations, too late to back out now, enjoy your vacay.......
 
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