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Trump Committed Tax Fraud & Insurance Fraud & Bank Fraud

That's what he paid with his extensions Einstein. That isn't what he owed when he filed the tax return

Correct - Presumably to avoid penalties.

The story reads (and many believe) that Trump stroked a fat $750 check for both years when in fact he actually paid $5.2M on a true tax liability of $1,500.

And instead of getting a refund he rolled it forward to offset future liabilities in effect "pre paying" his taxes.

It's hilarious that with all of the shady shit Donald Trump has pulled over the years you clowns would choose to die on this hill when he in effect gave the federal government a $5M+ loan.
 
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Not necessarily. If he forecasted anticipated tax of $20 million in 2018, then he could make an extension payment with his 2017 return which would give him the flexibility to roll forward the overpayment against his Q1 estimates while covering a 2017 contingency.

You think this is a non-story? Conservatives media has gone into whataboutism and strawman overdrive.
 
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Trump Committed Tax Fraud & Insurance Fraud & Bank Fraud

It’s just not worth the aggravation.
 
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But to fund the improvements, you have to have income somewhere, don't you? Trump is universally showing losses. So what's he living on?

probably just sucks cash out of the re-fi, kicks the can down the road

This is (i'm sure) correct.

Regular people would get hit with bank fraud if they applied for a re-fi loan and then used it for personal spending.

No, imagine a home equity line where you take money out for whatever you want. It's legal and PE firms and real estate investors do it all the time.


if there's a bigger idiot on these boards i'm hard pressed to name him.
 
That's what he paid with his extensions Einstein. That isn't what he owed when he filed the tax return. Brad demonstrating that his understanding of rudimentary income tax concepts are as impressive is his understanding of basic statistics.

I don't know, seems pretty reasonable compared to MDMH's posts.
 
I love that brad is locked and loaded to argue this point with *checks notes* actual accountants.
 
 
 

She’s goading Democrats into talking about tax hikes six weeks before an election.
 
Also can't we just have a 500 word federal income tax code that's super simple and breaks everyone into income brackets and that's your rate? Deductions are such a sham, save that for corporate taxes, and make them much header to qualify)

All compensation (salary, bonuses, benefits/employer HC cost, capital gains, stocks, etc) count towards your income bracket.
 
Also can't we just have a 500 word federal income tax code that's super simple and breaks everyone into income brackets and that's your rate? Deductions are such a sham, save that for corporate taxes, and make them much header to qualify)

All compensation (salary, bonuses, benefits/employer HC cost, capital gains, stocks, etc) count towards your income bracket.

9,9,9!
 
Also can't we just have a 500 word federal income tax code that's super simple and breaks everyone into income brackets and that's your rate? Deductions are such a sham, save that for corporate taxes, and make them much header to qualify)

All compensation (salary, bonuses, benefits/employer HC cost, capital gains, stocks, etc) count towards your income bracket.

Okay. But the single mom making $30K and paying $15K for daycare annually is going to pay the same in tax as the single college grad making $30K with no kids.
 
Also can't we just have a 500 word federal income tax code that's super simple and breaks everyone into income brackets and that's your rate? Deductions are such a sham, save that for corporate taxes, and make them much header to qualify)

All compensation (salary, bonuses, benefits/employer HC cost, capital gains, stocks, etc) count towards your income bracket.

the trump tax law changes pushed most Americans to the standard deduction. Unless you are paying significant home mortagage or have high charitable contributions.
 
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