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

“Here the guy was building incredible net worth and not paying tax on it,” he said.

LOL!! You don't pay income tax on net worth, you pay property tax. You pay income tax on net income, not net worth.

I thought the CORRUPT MEDIA was trying to claim Trump was broke and filed bankruptcy 4 times in the 90's.

The New York Times just published some of Donald Trump's 1995 tax records — here's what they reveal

Republican presidential nominee Donald Trump speaks at a rally on September 30, 2016 in Novi, Michigan. A post-debate poll shows Trump's rival Hillary Clinton with a seven point lead in Michigan.Spencer Platt/Getty Images

Donald Trump may have avoided paying federal income taxes for 18 years, according to tax recordsobtained by The New York Times and published on Saturday night.

The documents indicated that Trump declared a $916 million loss in 1995, providing him with a deduction so large it could have eliminated his obligation to legally pay annual federal taxes by up to $50 million for nearly two decades, tax experts told The Times.

Trump has refused calls to release his tax returns, a decades-old tradition every Republican nominee since Richard Nixon has followed.

At Monday night’s presidential debate, Clinton suggested Trump was perhaps refusing to publicly disclose his tax documents because he had not paid federal taxes. “That makes me smart,” Trump replied, raising eyebrows across the political world.

The Times said it had obtained the documents from an anonymous source who mailed the documents to its offices.

The return address on the envelope was Trump Tower in New York City.

A lawyer for Trump, Marc E. Kasowitz, threatened The Times with “prompt initiation of appropriate legal action” if it published the documents.

The documents were published by The Times as Trump told a Pennsylvania crowd to “follow the money,” his latest line of attack against Hillary Clinton, in reference to his allegations she was engaged in a pay-to-play scandal while secretary of state.

http://www.businessinsider.com/donal...nyt-no-2016-10

Read the full New York Times story here >

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Bombshell New York Times Report Reveals Details From Donald Trump's 1995 Tax Records

Trump could have avoided paying federal income taxes for nearly two decades.

KANYAKRIT VONGKIATKAJORN AND JAMES WEST
OCT. 1, 2016 9:36 PM

Trump: John Locher/AP; Documents: The New York Times

The New York Times dropped a bombshell of an investigation Saturday night when it published fragments from Donald Trump's 1995 tax return.

Tax experts hired by the Times said that the $916 million dollars in operating losses listed by Trump in the 1995 document may have allowed him to avoid paying federal taxes over a possible 18-year period.

A lawyer for Donald Trump threatened the Times with "prompt initiation of appropriate legal action," declaring the publication of the GOP nominee's records illegal. Trump's campaign itself responded to the report by issuing a statement that read, in part:

"Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes."

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Matt Viser
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Trump campaign statement contains a lot of words. None of them dispute anything in the NYT story.
7:23 PM - 1 Oct 2016

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More detail here:

The $916 million loss certainly could have eliminated any federal income taxes Mr. Trump otherwise would have owed on the $50,000 to $100,000 he was paid for each episode of "The Apprentice," or the roughly $45 million he was paid between 1995 and 2009 when he was chairman or chief executive of the publicly traded company he created to assume ownership of his troubled Atlantic City casinos. Ordinary investors in the new company, meanwhile, saw the value of their shares plunge to 17 cents from $35.50, while scores of contractors went unpaid for work on Mr. Trump's casinos and casino bondholders received pennies on the dollar.
"He has a vast benefit from his destruction" in the early 1990s, said one of the experts, Joel Rosenfeld, an assistant professor at New York University's Schack Institute of Real Estate. Mr. Rosenfeld offered this description of what he would advise a client who came to him with a tax return like Mr. Trump's: "Do you realize you can create $916 million in income without paying a nickel in taxes?"

The Times says the documents were mailed to one of its reporters. The envelope's return address, according to the Times, claimed it was sent from Trump Tower. Each of the pages sent to the newspaper listed the names and social security numbers for Trump and his then-partner, Marla Maples. The Times then verified the documents with Jack Mitnick, who handled Trump's tax returns at the time.

Trump has continually refused to release his tax returns, and the issue came up again during last Monday's presidential debate. Trump regularly defends himself by saying that an IRS audit prevents him from releasing the records. (The IRS says Trump is free to make his documents public.)

Read the full report and see the original documents over at The New York Times.

http://www.motherjones.com/politics/...new-york-times

Bombshell New York Times Report Reveals Details From Donald Trump's 1995 Tax Records

Trump could have avoided paying federal income taxes for nearly two decades.

KANYAKRIT VONGKIATKAJORN AND JAMES WEST
OCT. 1, 2016 9:36 PM

Trump: John Locher/AP; Documents: The New York Times

The New York Times dropped a bombshell of an investigation Saturday night when it published fragments from Donald Trump's 1995 tax return.

Tax experts hired by the Times said that the $916 million dollars in operating losses listed by Trump in the 1995 document may have allowed him to avoid paying federal taxes over a possible 18-year period.

A lawyer for Donald Trump threatened the Times with "prompt initiation of appropriate legal action," declaring the publication of the GOP nominee's records illegal. Trump's campaign itself responded to the report by issuing a statement that read, in part:

"Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes."

View image on Twitter

Follow
Matt Viser
✔@mviser

Trump campaign statement contains a lot of words. None of them dispute anything in the NYT story.
7:23 PM - 1 Oct 2016

• 
  
• 
  162162 Retweets
• 
  157157 likes

More detail here:

The $916 million loss certainly could have eliminated any federal income taxes Mr. Trump otherwise would have owed on the $50,000 to $100,000 he was paid for each episode of "The Apprentice," or the roughly $45 million he was paid between 1995 and 2009 when he was chairman or chief executive of the publicly traded company he created to assume ownership of his troubled Atlantic City casinos. Ordinary investors in the new company, meanwhile, saw the value of their shares plunge to 17 cents from $35.50, while scores of contractors went unpaid for work on Mr. Trump's casinos and casino bondholders received pennies on the dollar.
"He has a vast benefit from his destruction" in the early 1990s, said one of the experts, Joel Rosenfeld, an assistant professor at New York University's Schack Institute of Real Estate. Mr. Rosenfeld offered this description of what he would advise a client who came to him with a tax return like Mr. Trump's: "Do you realize you can create $916 million in income without paying a nickel in taxes?"

The Times says the documents were mailed to one of its reporters. The envelope's return address, according to the Times, claimed it was sent from Trump Tower. Each of the pages sent to the newspaper listed the names and social security numbers for Trump and his then-partner, Marla Maples. The Times then verified the documents with Jack Mitnick, who handled Trump's tax returns at the time.

Trump has continually refused to release his tax returns, and the issue came up again during last Monday's presidential debate. Trump regularly defends himself by saying that an IRS audit prevents him from releasing the records. (The IRS says Trump is free to make his documents public.)

Read the full report and see the original documents over at The New York Times.

http://www.motherjones.com/politics/...new-york-times