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Post by wheelie on Sept 29, 2020 7:45:12 GMT -5
I think wheelie is right in that the tax laws permit those kinds of write offs. I think it would be an issue if people are being paid by government funds(tax payers money) then that is a conflict of interest and against the law. If the circumstances are that the people are paid from personnel income and then write that off, that is OK. I know that, the write off isn’t a problem in and of itself, the double dipping is the issue here. And it doesn’t have to be illegal to be unethical. Apparently Trump claimed $26 million of consulting fee write-offs, which begs the question how much of that was paid to his kiddos who were serving as both managers of operations for daddy’s company as well as consultants to the projects that they were supposedly managing as well. You get it but you do t seem to like it That’s fine Do not expect ANYONE who understands “how it’s done” to be outraged.
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Post by MonkeyBrook on Sept 29, 2020 7:59:57 GMT -5
I wish Trump would just release his returns for all to see, if he truly did nothing wrong / had nothing to hide...I think this would go a very long way. But I doubt he will, he is a bit stubborn . But if there was something illegal the IRS and other authorities would not allow that to happen. Frankly, I do not care about whether or not his businesses are up/down. If you follow Trump that has been the case since the beginning...risky businesses. And with Covid-19, there is no surprise that his hospitality type business are struggling....should be a fun debate this evening. I wish it had a betting line.
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Post by ZenMaster on Sept 29, 2020 8:08:49 GMT -5
I know that, the write off isn’t a problem in and of itself, the double dipping is the issue here. And it doesn’t have to be illegal to be unethical. Apparently Trump claimed $26 million of consulting fee write-offs, which begs the question how much of that was paid to his kiddos who were serving as both managers of operations for daddy’s company as well as consultants to the projects that they were supposedly managing as well. You get it but you do t seem to like it That’s fine Do not expect ANYONE who understands “how it’s done” to be outraged. Not my first rodeo kimosabee. I know how many things work and can recognize unethical business practices when I see them. YMMV
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Post by ZenMaster on Sept 29, 2020 8:12:23 GMT -5
On the day of the first GE debate for 2 of the 2020 POTUS candidates (should be at least one more on the stage but that’s another issue), some thought provoking political quotes:
"The hardest thing about any political campaign is how to win without proving that you are unworthy of winning." - Theodore Adorno
"A society of sheep must in time beget a government of wolves." - Bertrand de Jouvenel
"The measure of a man is what he does with power." - Pittacus
"The first method of estimating the intelligence of a ruler is to look at the men he has around him." - Niccolo Machiavelli
"Being powerful is like being a lady. If you have to tell people you are - you aren't." - Margaret Thatcher
"You can discover what your enemy fears most by observing the means he uses to frighten you." - Eric Hoffer
Is it Election Day yet?? Five weeks from today.
Have a terrific Tuesday. Hugs and kisses to you all.
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Post by promontoryrider on Sept 29, 2020 8:18:33 GMT -5
Trump nominated yet again for Nobel Peace Prize. This time by Australian Law Professors for Doctrine Against Endless Wars. On Monday President Donald Trump was nominated for the third time this year for a 2021 Noble Peace Prize. The nomination came courtesy of Australian law professors praising the "Trump Doctrine" against endless wars.
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Post by promontoryrider on Sept 29, 2020 8:23:09 GMT -5
You get it but you do t seem to like it That’s fine Do not expect ANYONE who understands “how it’s done” to be outraged. Not my first rodeo kimosabee. I know how many things work and can recognize unethical business practices when I see them. YMMV Did Hunter pay taxes on his consulting fees? Records indicate that Hunter Biden as well as other members of the Biden family received numerous money transfers from individuals and organizations associated with potential criminal activity. Hunter Biden had business associations with Chinese nationals linked to the Communist government and its People’s Liberation Army. Those associations resulted in a massive cash flow — such as the $4,790,375.25 paid to his company in one 13-month stretch as “consulting fees.”
Hunter Biden opened a bank account with one of those Chinese nationals, Gongwen Dong, that funded a $100,000 spending spree by himself, the vice president’s brother, James Biden, and his wife, Sara Biden. The Bidens used credit cards issued by the account to purchase $101,291.46 in airline tickets and merchandise from Apple stores, pharmacies, hotels and restaurants, among other things.
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Post by what is hip ? on Sept 29, 2020 10:19:02 GMT -5
Have you ever done/been involved with any RE developers? I am guessing not You’d be wrong, not that it matters. Priceless. You were a Colonel. You were in a fraternity at a school that didn't have fraternities. Now your a real estate developer!
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Post by hawk on Sept 29, 2020 10:19:28 GMT -5
No source no good. Edit with source.
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Post by Barker on Sept 29, 2020 10:46:24 GMT -5
The NYT tax story is a gift for everyone. Just like tonight's debate will be - everyone gets out of it what they want to see/hear. For the taxes - Trump lovers say he just gamed the system. Haters see more grifting.
There have been lots of lists made, so here's what I think are the four "biggest takeaways" about the published story: 1. A $72 million tax refund in 2010 based on 1.4B in reported losses is still being audited. If the IRS ultimately disallows the losses he will owe over $100 million with interest & penalties. 2. Most of his signature properties in the US lose money, especially the golf courses. Not by way of depreciation, but total cost of operations versus income generated. 3. The NYT wouldn't let Trump's attorney review the docs they obtained out of fear it could reveal their source. 4. If these tax documents are correct, then Mr. Trump likely lied on his annual financial disclosures while president.
Since our tax system is based on voluntary compliance and interpretation of the rules, it is left up to the IRS to enforce the rules. That may be why they are still working on #1 above 10 years later. Also tax documents are a financial summary and wouldn't include details on ties to foreign entities which is why there were no Russian revelations in them.
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Post by bob on Sept 29, 2020 10:49:52 GMT -5
Not my first rodeo kimosabee. I know how many things work and can recognize unethical business practices when I see them. YMMV Did Hunter pay taxes on his consulting fees? Records indicate that Hunter Biden as well as other members of the Biden family received numerous money transfers from individuals and organizations associated with potential criminal activity. Hunter Biden had business associations with Chinese nationals linked to the Communist government and its People’s Liberation Army. Those associations resulted in a massive cash flow — such as the $4,790,375.25 paid to his company in one 13-month stretch as “consulting fees.”
Hunter Biden opened a bank account with one of those Chinese nationals, Gongwen Dong, that funded a $100,000 spending spree by himself, the vice president’s brother, James Biden, and his wife, Sara Biden. The Bidens used credit cards issued by the account to purchase $101,291.46 in airline tickets and merchandise from Apple stores, pharmacies, hotels and restaurants, among other things.
Funny how the real threat, Communist China is so cozy with the Bidens. They must love how Obama/Biden allowed multinationals to offshore so many American jobs.
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Post by wheelie on Sept 29, 2020 12:47:02 GMT -5
Not my first rodeo kimosabee. I know how many things work and can recognize unethical business practices when I see them. YMMV Did Hunter pay taxes on his consulting fees? Records indicate that Hunter Biden as well as other members of the Biden family received numerous money transfers from individuals and organizations associated with potential criminal activity. Hunter Biden had business associations with Chinese nationals linked to the Communist government and its People’s Liberation Army. Those associations resulted in a massive cash flow — such as the $4,790,375.25 paid to his company in one 13-month stretch as “consulting fees.”
Hunter Biden opened a bank account with one of those Chinese nationals, Gongwen Dong, that funded a $100,000 spending spree by himself, the vice president’s brother, James Biden, and his wife, Sara Biden. The Bidens used credit cards issued by the account to purchase $101,291.46 in airline tickets and merchandise from Apple stores, pharmacies, hotels and restaurants, among other things.
We can’t have a discussion about the Biden’s No one want to talk about his good stuff They only want you to look at Trumps bad stuff
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Post by wheelie on Sept 29, 2020 12:48:25 GMT -5
You’d be wrong, not that it matters. Priceless. You were a Colonel. You were in a fraternity at a school that didn't have fraternities. Now your a real estate developer! I know the fraternity he was in and have several friends who were also brothers but before he got there.
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Post by bob on Sept 29, 2020 13:21:49 GMT -5
Not my first rodeo kimosabee. I know how many things work and can recognize unethical business practices when I see them. YMMV Did Hunter pay taxes on his consulting fees? Records indicate that Hunter Biden as well as other members of the Biden family received numerous money transfers from individuals and organizations associated with potential criminal activity. Hunter Biden had business associations with Chinese nationals linked to the Communist government and its People’s Liberation Army. Those associations resulted in a massive cash flow — such as the $4,790,375.25 paid to his company in one 13-month stretch as “consulting fees.”
Hunter Biden opened a bank account with one of those Chinese nationals, Gongwen Dong, that funded a $100,000 spending spree by himself, the vice president’s brother, James Biden, and his wife, Sara Biden. The Bidens used credit cards issued by the account to purchase $101,291.46 in airline tickets and merchandise from Apple stores, pharmacies, hotels and restaurants, among other things.
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Post by Barker on Sept 29, 2020 13:22:52 GMT -5
No source no good. Edit with source. Seems to be from the "bombshell" report released last week by a Senate panel headed by Ron Johnson. www.politico.com/news/2020/09/23/gop-senators-anti-biden-report-420362"an interim report...less than six weeks before the presidential election and released publicly on Wednesday, is largely a compilation of previously public information — some of it rehashed anew by witnesses who already testified during the House’s impeachment inquiry last year — as well as news articles and strongly worded insinuations with little evidence to back them up."
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Post by what is hip ? on Sept 29, 2020 13:23:38 GMT -5
Priceless. You were a Colonel. You were in a fraternity at a school that didn't have fraternities. Now your a real estate developer! I know the fraternity he was in and have several friends who were also brothers but before he got there. That's what happens when you lie and/or exaggerate all the time. When you do tell the truth or are on the level, no one believes you.
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