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Will Trump now Show us his Tax Forms

Media_Truth said:
I would think this is now the business of every citizen of the US, as he is our president. It's hard to fathom that our elected president doesn't pay taxes - doesn't help pay for the roads, the safeguard of our nation, federal employees, federal organizations....

If I was president of the United States, I would definitely submit my 2015 tax forms, and any other years of interest. Wouldn't you?
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Nobody pays taxes they do not owe.

Are you kidding? check out my tax returns sometime, actually you won't because I will never release them, but the point is, I write off everything I think I can get away with.
 
I take every deduction that the law tells me im entitled to take. Its my patriotic duty to file my taxes correctly

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trouble13 said:
I take every deduction that the law tells me im entitled to take. Its my patriotic duty to file my taxes correctly

Sent from my SM-G920P using Tapatalk
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I take deductions as well, but I still pay out a lot of taxes - usually $10-15K in Federal taxes.
 
EMNofSeattle said:
The tax returns are never going public, no one even really cares.

clearly they're not going to show anything illegal because Trump has never been charged with tax fraud so meh.
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I care. Reporters have asked him, so they care. Check out this link. If you scroll down a little you'll see a list of all the ex-president and many presidential candidates who submitted their tax returns. No, it's not mandatory, but it is a precedent dating way back, as you'll see, without exception. It is a good faith act. My guess, he's afraid that some savvy accountant will spot some tax fraud. the IRS does not thoroughly check every tax return.

Tax History Project -- Presidential Tax Returns
 
upsideguy said:
Zero evidence of that. Every tax return disclosed by Trump has shown ZERO taxes paid.
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Not possible. If he took credits for prior business losses then there were certainly tax returns prior to the loss in which his company made money and paid taxes. I've taken business tax credits for prior year losses. It would be pretty stupid for me not to do that. He is audited every year so he hasn't gotten away with anything illegal. I was audited last year. It is a thorough process.
 
Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated? What is he hiding?
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Trump has paid millions and millions in taxes of all different kinds during his career. But, you already know that he has paid zero federal income taxes for about 20 years due to business losses, all legal deductions. Why are you asking a question about something you already know the answer to?
 
Since everyone wants to equate tax returns to person's credibility, I would like every poster in this thread post their own tax returns to confirm their own. ;)
 
Moderate Right said:
Trump has paid millions and millions in taxes of all different kinds during his career. But, you already know that he has paid zero federal income taxes for about 20 years due to business losses, all legal deductions. Why are you asking a question about something you already know the answer to?
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Maybe there are a lot of dealings with Russia...
 
RetiredUSN said:
Since everyone wants to equate tax returns to person's credibility, I would like every poster in this thread post their own tax returns to confirm their own. ;)
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Romney seemed to think this was very important...

“The potential for hidden inappropriate associations with foreign entities, criminal organizations, or other unsavory groups is simply too great a risk to ignore for someone who is seeking to become commander-in-chief”:
 
Media_Truth said:
Romney seemed to think this was very important...

“The potential for hidden inappropriate associations with foreign entities, criminal organizations, or other unsavory groups is simply too great a risk to ignore for someone who is seeking to become commander-in-chief”:
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LOL..........

He would have been exposed long ago.
 
Media_Truth said:
I would think this is now the business of every citizen of the US, as he is our president. It's hard to fathom that our elected president doesn't pay taxes - doesn't help pay for the roads, the safeguard of our nation, federal employees, federal organizations....

If I was president of the United States, I would definitely submit my 2015 tax forms, and any other years of interest. Wouldn't you?
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You picked a horrible screen name. You are a biased partisan for sure. There is nothing truthful about you at all. You can't acknowledge the fact that Trump has paid mega taxes (including federal income taxes) over the course of his life. The fact that he legally hasn't paid any federal income taxes for the last 20 years due to business losses, does not negate the fact that he has paid more in all kinds of taxes then every single member here on DP added together. He has paid for the road in front of your house and all of the roads in your state.
 
Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated?
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nope
What is he hiding?
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tons of slimey crap...no surprise there...that's what the people wanted...that's what you have...

no worries, unless he starts a war and he might...it won't change your life much, they never do
 
Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated? What is he hiding?
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Let's hope he never does...if for no other reason than to continue to annoy liberals.
 
Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated? What is he hiding?
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His adviser, Kellyanne Conway, came out today and said he will not.
Moderate Right said:
You are a biased partisan for sure. There is nothing truthful about you at all.
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I'm amused at this statement.
 
Media_Truth said:
Maybe there are a lot of dealings with Russia...
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Please make up your mind. First you are worried about the amount of taxes he has paid and our road conditions and now, all of a sudden, you have switched to looking for Russian connections. The next thing you will be checking is to see if he was really born in the US. You are nothing but a partisan hack, still in shock over your election loss and grabbing at any straws you can to delegitimize his presidency. Maybe when he owned Miss Universe it was a cover for him working for the KGB. After all, he had to check those contestants for hidden wires.
 
fmw said:
Not possible. If he took credits for prior business losses then there were certainly tax returns prior to the loss in which his company made money and paid taxes. I've taken business tax credits for prior year losses. It would be pretty stupid for me not to do that. He is audited every year so he hasn't gotten away with anything illegal. I was audited last year. It is a thorough process.
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Not saying that... but if he paid $20,000 one year and $15,000 the next and then had a loss (which isn't necessarily a real loss in real estate) the following year that allowed him recover the $35,000 paid, we can say he has paid no taxes.
 
upsideguy said:
Not saying that... but if he paid $20,000 one year and $15,000 the next and then had a loss (which isn't necessarily a real loss in real estate) the following year that allowed him recover the $35,000 paid, we can say he has paid no taxes.
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But that is just an example, not reality. Trump has filed more than three years of tax returns. Another example could be that he paid one billion dollars in income taxes over his first 30 years and then had a huge loss which allowed him to not pay any federal income taxes for the next 20 years. He still paid that billion dollars in income taxes for the previous 30 years. And, this doesn't even take into account all of the other taxes he has paid such as his business's share of payroll taxes, which you can't get out of no matter how many losses you have.
 
Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated? What is he hiding?
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Of course not, President Trump doesn't seem to answer to anyone, not the media, not fellow politicians, not even his own constituents.
 
Moderate Right said:
But that is just an example, not reality. Trump has filed more than three years of tax returns. Another example could be that he paid one billion dollars in income taxes over his first 30 years and then had a huge loss which allowed him to not pay any federal income taxes for the next 20 years. He still paid that billion dollars in income taxes for the previous 30 years. And, this doesn't even take into account all of the other taxes he has paid such as his business's share of payroll taxes, which you can't get out of no matter how many losses you have.
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Well, we do not know because he has not released his returns. Those that are out there shows he pays no tax. The indictment that he is not paying his fair share validly remains in the public domain because he refuses to do what is usual and customary. The burden of proof is on him to show otherwise.

BTW, losses are first carried back to recapture taxes previously paid. Whatever is leftover after applying carryback is carried forward to recover from future years.

Also, his tax returns released in the 1980's show no taxes paid as does the infamous 1996 return, which has a carry forward... there isn't a 30 year period where he was a tax payer.
 
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Media_Truth said:
All this pro-military talk, and we don't even know if Trump supports them, by paying taxes. Will Trump show us his IRS tax forms now that he's been inaugurated? What is he hiding?
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I wasn't aware that disclosing your tax forms was a prerequisite to hold the office of POTUS.
 
upsideguy said:
Not saying that... but if he paid $20,000 one year and $15,000 the next and then had a loss (which isn't necessarily a real loss in real estate) the following year that allowed him recover the $35,000 paid, we can say he has paid no taxes.
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No. He would not be recovering taxes paid. The business loss creates a tax exemption for future taxes. Every business that suffers a loss is treated the same way under tax law. A business loss is a business loss whether the business does real estate or any thing else. That loss is calculated by subtracting business expenses from net revenue. It has nothing at all to do with the type of business. It is standard accounting. Trump or I or any other businessman would be incompetent if he or she didn't take business loss exemptions. You may not like the law but it is the law. You may want to contact your congressman to see about altering the law.
 
fmw said:
No. He would not be recovering taxes paid. The business loss creates a tax exemption for future taxes. Every business that suffers a loss is treated the same way under tax law. A business loss is a business loss whether the business does real estate or any thing else. That loss is calculated by subtracting business expenses from net revenue. It has nothing at all to do with the type of business. It is standard accounting. Trump or I or any other businessman would be incompetent if he or she didn't take business loss exemptions. You may not like the law but it is the law. You may want to contact your congressman to see about altering the law.
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Sorry, a tax loss (usually referred to as a net operating loss, or NOL) is usually carried back three years allowing recovery of taxes paid, before it is carried forward. The NOL is calculated by subtracting tax expenses from tax revenue (often, receipts). Their is usually difference between actual revenue and tax revenue; and actual expenses and tax expenses. Taxes are not based GAAP, but are reconciled to GAAP on the tax form in schedule M-2 of an 1120. Few industries have the favorable tax treatment as real estate (and therefore more complicated reconciliations). I am not registering a complaint, I am only explaining how it works.

Net Operating Loss Carryback & Carryforward Rules - Lawyers.com
https://www.thebalance.com/tax-loss-carryback-and-carry-forward-explained-398178
Loss Carryback Definition | Investopedia

Trump's tax returns are undoubtedly extremely complicated. Trump, however, has made the decision that speculation that he pays no tax is less damaging to him than..... likely the validation that he pays little or no tax. He made that calculation, hence it is fair (especially in light of the actual evidence that is out there) that he pays no tax.

BTW -- NOL's are taken as a tax deduction, not a tax exemption, but we get what you were trying to say.
 
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upsideguy said:
Well, we do not know because he has not released his returns. Those that are out there shows he pays no tax. The indictment that he is not paying his fair share validly remains in the public domain because he refuses to do what is usual and customary. The burden of proof is on him to show otherwise.

BTW, losses are first carried back to recapture taxes previously paid. Whatever is leftover after applying carryback is carried forward to recover from future years.

Also, his tax returns released in the 1980's show no taxes paid as does the infamous 1996 return, which has a carry forward... there isn't a 30 year period where he was a tax payer.
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I'm just saying that he has paid income taxes for so many years (he's 70) that he is bound to be on the plus side overall, even if he hasn't paid taxes for 20 years. And, as I said, he has paid millions and millions in other kinds of taxes, payroll taxes, just to name one.
 
Moderate Right said:
I'm just saying that he has paid income taxes for so many years (he's 70) that he is bound to be on the plus side overall, even if he hasn't paid taxes for 20 years. And, as I said, he has paid millions and millions in other kinds of taxes, payroll taxes, just to name one.
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If I may change the subject for a moment...

Does it bother you that President Trump flatly lied about releasing his tax returns? During the campaign season, President Trump said, unequivocally, that he would release his tax returns after his audit is finished. His closest advisor/spokesperson is now saying he will not release his tax returns, even after an audit. This means that President Trump lied to you and to me and to the rest of America, in order to deflect from an issue.

Does it bother you that you were lied to?
 
Moderate Right said:
I'm just saying that he has paid income taxes for so many years (he's 70) that he is bound to be on the plus side overall, even if he hasn't paid taxes for 20 years. And, as I said, he has paid millions and millions in other kinds of taxes, payroll taxes, just to name one.
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Not arguing he isn't on the plus side, but its likely a pathetic % to income.

yes, payroll taxes. But, we are discussing income taxes. BTW, most conservatives want to tell us that 47% of the people pay no taxes.... those are people that pay no income. The cons don't want to let you include payroll taxes when they make that argument, because when you do, most to substantially all working people pay tax. If you want to introduce payroll taxes to this argument, do get caught complaining about the 47% (which I believe now is 44%).
 
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