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Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower

JacksinPA

JacksinPA

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Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
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Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks. One set for him, one set for the tax man.
 
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JacksinPA said:
Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
=======================================================
Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks.
Click to expand...

Forgive my ignorance - but there's always so much going on with Trump it's hard to keep up

Didn't he do the blind trust thing that Presidents always do? No control over his assets while in office? This is not to claim his innocence considering he hired the accountants that submitted the documents at some point, but I'm curious how much his direction was involved here
 
Keridan said:
Forgive my ignorance - but there's always so much going on with Trump it's hard to keep up

Didn't he do the blind trust thing that Presidents always do? No control over his assets while in office? This is not to claim his innocence considering he hired the accountants that submitted the documents at some point, but I'm curious how much his direction was involved here
Click to expand...

I haven't kept up with his financial dealings. Many of his properties are still his, I understand. But this apparent tax fraud scheme with Trump Tower may predate his election, so its current status is a moot point.
 
Keridan said:
Forgive my ignorance - but there's always so much going on with Trump it's hard to keep up

Didn't he do the blind trust thing that Presidents always do? No control over his assets while in office? This is not to claim his innocence considering he hired the accountants that submitted the documents at some point, but I'm curious how much his direction was involved here
Click to expand...
I am not sure if he did or did not, but the period they seem to be primarily speaking to is 2011 to 2012.
 
JacksinPA said:
I haven't kept up with his financial dealings. Many of his properties are still his, I understand. But this apparently tax fraud scheme with Trump Tower may predate his election, so its current status is a moot point.
Click to expand...

Actually, the article refers to filings from last month at the end of the second paragraph(period) And his holdings still belong to him, but the blind trust means that he can't actually control them (this is a measure intended to avoid graft from the POTUS) (period) He is still the one who has set up decades of precedent for behavior like this and has failed to produce his own returns despite his promises, but it changes the focus of the problem slightly - he would no longer be prosecutable for this particular event
 
year2late said:
I am not sure if he did or did not, but the period they seem to be primarily speaking to is 2011 to 2012.
Click to expand...

Thank you, I missed where they referred to this being secondary to that offense

Hell, at this point can't we all just assume he is screwing up his taxes all over the place? I'm fine with it staying in front of the news, but I'm not even going to pretend to be surprised(period) legality is not my highest concern about the fact that he won't release his tax info
 
JacksinPA said:
Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
=======================================================
Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks. One set for him, one set for the tax man.
Click to expand...

Unbelievable! Somebody presented different information to a lender than they did to a taxing entity? No way!

Folks, this happens ALL the time and, frankly, isn't really that "wrong".

Think about it this way, You're about to trade your 1972 Gremlin in to the dealership for a brand new Tesla Model 3. Is that Gremlin a "classic" or is it a "piece of ****"? I mean, sure, KBB has a trade in value of $1.35 on their site but your was Tijuana Lime and EVERYBODY wanted that color.
 
This just makes the left look desperate to find something that will stick.

Sent from my SM-G965U using Tapatalk
 
JacksinPA said:
Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
=======================================================
Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks. One set for him, one set for the tax man.
Click to expand...

Two sets of books is a huge sign of financial fraud.
 
Lutherf said:
Unbelievable! Somebody presented different information to a lender than they did to a taxing entity? No way!

Folks, this happens ALL the time and, frankly, isn't really that "wrong".

Think about it this way, You're about to trade your 1972 Gremlin in to the dealership for a brand new Tesla Model 3. Is that Gremlin a "classic" or is it a "piece of ****"? I mean, sure, KBB has a trade in value of $1.35 on their site but your was Tijuana Lime and EVERYBODY wanted that color.
Click to expand...

It's called fraud.
 
Keridan said:
Forgive my ignorance - but there's always so much going on with Trump it's hard to keep up

Didn't he do the blind trust thing that Presidents always do? No control over his assets while in office? This is not to claim his innocence considering he hired the accountants that submitted the documents at some point, but I'm curious how much his direction was involved here
Click to expand...

His blind trust are his kids.
 
Lutherf said:
Unbelievable! Somebody presented different information to a lender than they did to a taxing entity? No way!

Folks, this happens ALL the time and, frankly, isn't really that "wrong".

Think about it this way, You're about to trade your 1972 Gremlin in to the dealership for a brand new Tesla Model 3. Is that Gremlin a "classic" or is it a "piece of ****"? I mean, sure, KBB has a trade in value of $1.35 on their site but your was Tijuana Lime and EVERYBODY wanted that color.
Click to expand...

LOLOL! It's a federal felony. It's quite wrong.

That you choose to rationalize it away just further demonstrates your total devotion to and worship of the man.
 
Keridan said:
Actually, the article refers to filings from last month at the end of the second paragraph(period) And his holdings still belong to him, but the blind trust means that he can't actually control them (this is a measure intended to avoid graft from the POTUS) (period) He is still the one who has set up decades of precedent for behavior like this and has failed to produce his own returns despite his promises, but it changes the focus of the problem slightly - he would no longer be prosecutable for this particular event
Click to expand...

Trump did not establish a "blind trust" to hold his properties

Trump Has Revealed Assumptions About Handling Presidential Wealth, Businesses

Before Donald Trump took the oath of office one year ago, the presidency was widely seen as an all-consuming, full-time job.

But since Inauguration Day on Jan. 20, 2017, Trump has served as president while holding on to his hundreds of businesses. He has continued to promote his Trump-branded properties, spending roughly a third of his presidency dining at his own restaurants, golfing at his own courses and sleeping at his own luxury hotels and resorts.

As Trump has often pointed out, a law setting ethical standards regarding self-enrichment applies to federal employees but exempts the president and vice president. "The law is totally on my side, meaning, the president can't have a conflict of interest," he told The New York Times shortly after the election.

By underscoring that one legal exemption, Trump has called attention to this political reality: Ethical norms for the presidency are just that — norms, not legal requirements.
(. . .)
Rather than divest, Trump moved his businesses into a revocable trust. He is the sole beneficiary of the trust, which is managed by his two older sons and a business associate. He knows what businesses are in the trust.

At a press conference on Jan. 11, 2017, Trump lawyer Sheri Dillon confirmed that, saying: "You cannot have a totally blind trust with operating businesses. President Trump can't unknow he owns Trump Tower."

The Trump Organization also continues trying to expand the family business, seeking and accepting new trademarks in China. Trump's sons still pursue business expansions around the globe.
Click to expand...
 
SheWolf said:
Two sets of books is a huge sign of financial fraud.
Click to expand...

We're not talking about two different sets of books though. It's two methods of property valuation. That often happens - especially with commercial real estate - for valid reasons. The taxing entity often has specific rules and requirements, particularly with regards to depreciation. Standard financial documents follow general accounting principles (GAAP), which allow for some variation. Companies can use the method they choose based on their business - perfectly legal, provided the company discloses what method it's using. There are good reasons for using different methods, and I would expect any company to use the legal method best suited to them based on a given situation.

Even this article states,
Information in tax and loan filings can differ for legitimate reasons, experts said.
Click to expand...
 
JacksinPA said:
Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
=======================================================
Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks. One set for him, one set for the tax man.
Click to expand...

Values are different between what is required to be reported for tax purposes, and values required to underwrite loans.

But you don't care about that, do you? You wouldn't even think to check into it, would you?
 
JacksinPA said:
Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower — ProPublica

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.
=======================================================
Apparently Trump has been keeping 2 sets of books on his real estate. Just like a lot of other real estate crooks. One set for him, one set for the tax man.
Click to expand...

At least one State has plans for Ms. Justice to have a date.
 
Keridan said:
Actually, the article refers to filings from last month at the end of the second paragraph(period) And his holdings still belong to him, but the blind trust means that he can't actually control them (this is a measure intended to avoid graft from the POTUS) (period) He is still the one who has set up decades of precedent for behavior like this and has failed to produce his own returns despite his promises, but it changes the focus of the problem slightly - he would no longer be prosecutable for this particular event
Click to expand...

Where did you go to law school?
 
Keridan said:
Forgive my ignorance - but there's always so much going on with Trump it's hard to keep up

Didn't he do the blind trust thing that Presidents always do? No control over his assets while in office?
Click to expand...

No.

.....
 
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