Trump’s tax avoidance and financial disasters

[BriarFox]

LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE
The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.


By Russ Buettner, Susanne Craig and Mike McIntire
Sept. 27, 2020

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.


The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

...

https://www.nytimes.com/interactive/...ump-taxes.html

[Blazar]

Haha, tip of the iceberg. More to come people!

[Suppa Hobbit Mage]

Show me the part where it's illegal?

[Taernath]

It was always a grift.

[Blazar]

Show me the part where it's illegal?

AHAHAHA. It's okay that he's a shit bag of a person and screws the country on taxes... it's not illegal, it's sooo American!

Again, tip of the iceberg, I promise there's more to come, and his crooked and illegal shenanigans will come to light. They always do. He's fucked over enough people that I am very confident in this. Like I said, I'm playing the long game. It won't be tomorrow, but in 10 to 20 years, we'll see Trump in jail. I have no doubts.

[Keller]

Trump will need to lay off the Big Macs if he wants to live 10-20 years longer. Not much of a runway for life at 300+ lbs.

[Tgo01]

Are these the sort of lame attacks we can expect until Election Day?

SAD!

Biden can hardly get a sentence out without drooling all over himself but Trump supposedly does what every other American does when it comes to their taxes.

[beldannon5]

Of course Tgo01 it's TDS

[Taernath]

AHAHAHA. It's okay that he's a shit bag of a person and screws the country on taxes... it's not illegal, it's sooo American!

Again, tip of the iceberg, I promise there's more to come, and his crooked and illegal shenanigans will come to light. They always do. He's fucked over enough people that I am very confident in this. Like I said, I'm playing the long game. It won't be tomorrow, but in 10 to 20 years, we'll see Trump in jail. I have no doubts.

Really doubtful he'll ever go to jail. People like him never do, especially people like him who are former Presidents. His lawyers will drag proceedings out for years, giving him ample time to stroke out in the comfort of his own home.

[Fortybox]

The New York Times said it will not make Trump's tax-return data public so as not to jeopardize its sources "who have taken enormous personal risks to help inform the public."

All you need to know. More anonymous sources. This is what journalist integrity has devolved into.