Thread: Trump Tax Records Reveal He Could Have Avoided Paying Taxes for 2 Decades

IN otherwords, we want to see her defeated on November 8th by electing Donald J Trump for President so he can help US fix our country and Make America Great Again!!!

Lets work hard Trump Supporters. Trump's got this, if we've got his back.

Originally Posted by Judy

When you lose money, it's called a net operating loss, so to determine net income, you have to deduct the losses, or you're taxing on gross profits or gross revenues instead of actual net income. There is no other way to deal with profit and loss. And the CORRUPT MEDIA spin that claims this is just for "wealthy billionaires" is a lie. These tax laws on losses apply to every business and every person, regardless of size and wealth.

Income tax rates may change with larger, richer, etc., but this loss carry forward applies to all businesses and persons who own them and are required to declare net income on their personal return depending on how they set up their business, corporation or partnership or limited liability company, the latter two require business income and loss reported on the owners' personal tax return. Losses have to be carried forward, back or both. Otherwise the government isn't taxing net income, it's taxing gross, and that's illegal.

Personally, I think that the question should be "Who is your CPA firm Mr. Trump and are they taking new clients?"

I'll bet their phones are ringing and rightly so. This assumes the clients are stupid people who didn't already know about loss carrybacks and forwards. I've known about them since the first year I became self-employed and started a business in the 80's. Then it was 3 years back and 3 years forward.

The New York Times needs to question why the Clintons tax returns show their charity donations went to the Bill, Hillary & Chelsey Family Foundation????

The old money laundering game...... out one pocket and into the other pocket!

Originally Posted by lorrie

The New York needs to question why the Clintons tax returns show their charity donations went to the Bill, Hillary & Chelsey Family Foundation????

The old money laundering game...... out one pocket and into the other pocket!

It seems that every time there is mention of auditing the Clinton Foundation, there is BIG attack on Trump's taxes.
NOV 17, 2015 @ 01:41 AM 23,430 VIEWSThe Little Black Book of Billionaire Secrets

Clinton Foundation Amends 4 Years Taxes, Admits Speech Fees Weren't Donations


Robert W. Wood , CONTRIBUTOR
Opinions expressed by Forbes Contributors are their own.


The Clinton Foundation filed its 2014 tax return, and amended its filings for 2010, 2011, 2012 and 2013. In a highly structured statement, Foundation President Donna Shalala explained that this was all voluntary. Besides, she noted, it all came about because of an error in 2010 to 2013 filings. The updated returns can be found at Clinton Foundation amendments.

Earlier this year, the Clinton Foundation said it needed to amend its taxes. There just may have been millions of donations omitted, so Foundation operatives wanted to make it right. Despite the connection and all the speech income, the Foundation is distinct from the Clinton family. There was no suggestion that these monies would be taxed to the Clinton Foundation or to Mr. or Ms. Clinton. Even so, it was still an embarrassing error.



Now, as the Foundation refiles, a letter to supporters from Ms. Shalala suggests that the Foundation has gone beyond all legal requirements, exhaustively reviewing data, and scrupulously fixing any mistakes. She notes that the auditors found other errors too. Yet even with them, amended returns were not needed, the Foundation states. But we did them anyway, Ms. Shalala explained.

The statement says the Foundation does “not owe any taxes,” which seems to be an obvious conclusion for an exempt organization like this one. Although the bottom line was the same, we decided to refile, according to the statement. The nature of the amendments to the Foundation past years’ returns falls into four major categories.

Government grants and contributions. Starting in 2010, the Foundation reported on three consecutive IRS tax returns that it received no donations from foreign government sources. It wasn’t as if they didn’t know how to report them. In prior years, the Foundation reported tens of millions of dollars in such donations. But things changed. Upon becoming Secretary of State, Mrs. Clinton promised that the Foundation would stop accepting donations from foreign governments. It turns out there were exceptions, and that the Foundation’s tax filings with the IRS were less than transparent.

Government grants – both domestic and foreign – were blank in 2010, 2011, and 2012. The Foundation says it inadvertently included government grants as part of the reporting of all grants. “There is nothing to suggest that the Foundation intended to conceal the receipt of government grants, which we report on our website,” the Foundation states.

Revenue from speeches. Bill, Hillary, and Chelsea Clinton all gave speeches in 2010, 2011, and 2012. The money was reported as charitable contributions, but actually, the speech fees were payments for services. That is worth saying again: the speech fees were purely fees-for-services and not donations. What’s more, the Foundation did not send any donor acknowledgement letters to these speech hosts. In fact, it is worth asking whether Ms. Clinton will amend her own taxes too.

Changes to Schedule B. The Foundation admits that there were errors in the amounts of donations and that there were some omissions. Some of these changes led to the listing of additional donors. In several cases, the speech fees were moved from contributions to other income. As a result, there was a decrease to the two percent threshold for reporting on this schedule.

Listing of related entities. The last category of major amendments to the returns is the listing of related entities. As the Clinton Foundation has set up and invested in entities that help it do work on the ground. The amended returns now disclose and reflect these relationships.

Do the Foundation’s refilings fix everything. That remains to be seen. The IRS says if you discover errors after you file, you should amend. One dividing line is what you knew when you filed your original return. If you knew the return was wrong when you filed it, you’d better fix it right away. On the other hand, if the errors were inadvertent and you discovered them only later, it is probably not as serious.

http://www.forbes.com/sites/robertwo...ent-donations/

Clinton Charities Refile 6 Years Of Tax Returns To Amend Errors

The charities have come under renewed scrutiny this year with Hillary Clinton’s decision to seek the Democratic Party’s nomination for the presidency.


11/17/2015 03:50 am ET

Jonathan Allen

CREDIT: ASSOCIATED PRESS

The Bill, Hillary & Chelsea Clinton Foundation has refiled its Form 990 tax returns for 2010, 2011, 2012 and 2013 to amend donation reporting and other errors.


NEW YORK, Nov 16 (Reuters) - The Bill, Hillary & Chelsea Clinton Foundation and an associated charity refiled tax returns for six years with the U.S. Internal Revenue Service to amend their reporting of donations from foreign governments and other errors, the charities said on Monday.

The foundation refiled its Form 990 tax returns for 2010, 2011, 2012 and 2013, while the Clinton Health Access Initiative refiled its returns for 2012 and 2013 after Reuters discovered errors in the forms earlier this year.

The charities said they were not legally required to refile the forms and were only doing so in the interest of transparency following what the foundation’s president, Donna Shalala, called an “exhaustive review.”

The charities are best known for their work on health and environmental issues in the developing world, but have come under renewed scrutiny this year with Hillary Clinton’s decision to seek the Democratic Party’s nomination for the presidency in the election in November 2016.

Her critics, especially political rivals in the Republican Party, have said the charities’ reliance on millions of dollars from foreign governments creates conflicts of interests for a would-be U.S. president. They have also criticized the charities’ admitted failure to comply with an ethics agreement Clinton signed with Barack Obama’s incoming presidential administration in 2008 in order for her to become secretary of state.

In a letter to the foundation’s supporters, Shalala said the foundation brought in a new firm to examine its returns. While the firm, the tax division of law firm DLA Piper, found several types of errors, none of them were substantive, Shalala wrote.

“There is no change in our bottom line numbers: assets, liabilities, and net assets,” she wrote. “There is nothing to suggest that the Foundation intended to conceal the receipt of government grants, which we report on our website.”

Among other amendments, the foundation now reports receiving nearly $20 million in funds from governments, mostly foreign governments, between 2010 and 2013. The foundation had previously neglected to separately state its government funding as required on its original returns, although it continued to acknowledge foreign governments’ support throughout this period on its website and in its publications.

The charities pay no taxes on their donations, but are required to file annual returns with the IRS to maintain their tax-exempt status and to make them public to anyone who wants to see how they raise and spend money.

The amended forms also break out the charities’ income derived from the Clintons’ speeches to corporations, among other amendments.

CREDIT: CBS PHOTO ARCHIVE VIA GETTY IMAGES

Hillary Clinton’s critics, especially political rivals in the Republican Party, have said the charities’ reliance on millions of dollars from foreign governments creates conflicts of interests for a would-be U.S. president.Reince Priebus, the Republican National Committee’s chairman, said in a statement the foundation’s incorrect returns had shown a “contempt for transparency and disclosure.”

“This episode demonstrates what we have long known: unabated, the Clinton Foundation’s massive foreign fundraising poses a serious conflict of interest, and Hillary Clinton has no intention of voluntarily complying with ethics guidelines or federal tax laws,” his statement said.

Clinton, whose spokesmen did not immediately respond to requests for comment on Monday night, severed her formal ties with her family’s charities upon announcing her presidential run in April, but her husband, former President Bill Clinton, and their daughter, Chelsea Clinton, retain active roles.

http://www.huffingtonpost.com/entry/...b08cda348a6239

Trump Foundation lacks the certification required for charities that solicit money

Originally Posted by JohnDoe2

Trump Foundation lacks the certification required for charities that solicit money

Trump Foundation lacks the certification required for charities that solicit money

By David A. Fahrenthold September 29

https://www.washingtonpost.com/polit...495_story.html

http://www.alipac.us/f9/trump-founda...-money-338015/

This is an article based on the assumptions of a reporter for the Washington Post, a publication that has been identified as a propaganda generator for Hillary Clinton. . Trump has not been charged with anything. and this David A. Fahrenthold is no Bob Woodward. JMO