Trump- zero taxes paid in 2020.

[rhinefire]

Think of one politician hated more than Trump

 

[justabubba]

There is a depreciation schedule.

Only on the improvements
Not on the underlying property, unless it is a mining interest or other similar unusual property

Look, don't get MAD, get even. If you want to be rich, buy commercial real estate or rental properties and learn how the game works. STOP this rich envy. It is unbecoming.

Thanks for the response, it allowed me to conclude your depth of knowledge in this area

 

[Paradoxical]

If I were sitting on 2B in net worth, I'd prefer to make money but that's just me. In fact, one could get a guaranteed 80M on his money right now instead of playing with paint, insurance and NFT superman tokens.

Would you be surprised that people buy real estate for the write-offs?

 

[Paradoxical]

Only on the improvements
Not on the underlying property, unless it is a mining interest or other similar unusual property

Thanks for the response, it allowed me to conclude your depth of knowledge in this area

Ant time.

THIS is for your further education because you are clueless on this topic as well as displayed in your other postings. The property is the hotel and other improvements. Naturally the LAND doesn't depreciate.

Commercial Real Estate Depreciation – How Does It Work?

Commercial real estate depreciation lets investors expense the cost of income producing property over time, lower the amount of personal income tax paid, and even roll over and defer the payment of capital gains tax when property is sold.

www.commercialcafe.com

What is commercial real estate depreciation?​

The Internal Revenue Service (IRS) allows commercial real estate investors to reduce the value of their investment property in equal installments over a period of 39 years. This ‘useful life’ of the property doesn’t include the land value, only the building and improvements.


PS. I hope this helps in your further education.

 

[pamak]

There is a depreciation schedule.

Look, don't get MAD, get even. If you want to be rich, buy commercial real estate or rental properties and learn how the game works. STOP this rich envy. It is unbecoming.

Classic stupidity!

Letting the rich who have a lot of money to invest in commercial and rental properties impose their preferred rules is considered normal. Well, let the government impose tax rules that benefit mainly small homeowners and have the rich learn how the new game works instead of bitching about "socialism."

 

[Paradoxical]

Classic stupidity!

Letting the rich who have a lot of money to invest in commercial and rental properties impose their preferred rules is considered normal. Well, let the government impose tax rules that benefit mainly small homeowners and have the rich learn how the new game works instead of bitching about "socialism."

So, the tax laws are there, Trump used them, and this is classic stupidity?

Look, if you don't like it, get the tax laws changed or invest in real estate. It's not Trump's fault you didn't understand the tax laws before I posted them.

 

[Paradoxical]

Nuff said

 

[pamak]

So, the tax laws are there, Trump used them, and this is classic stupidity?

Look, if you don't like it, get the tax laws changed or invest in real estate. It's not Trump's fault you didn't understand the tax laws before I posted them.

I was not talking about Trump. Classic stupidity is to let others impose their preferred rules and trying to beat them in a game they designed to maximize their advantages.

As I said, one can change the rules in a way that helps more the common people and tell the rich guys "Look. if you don't like it, get the tax laws changed or do not invest that ,much in real estate."

If there is anything that we have seen up until now is that the type of real estate commercial investment we have today makes rents (including housing rents) less affordable for common people. The most developed real estate markets have rents that impose the heaviest burden on most people. Sane people should realize that economics should be treated as an empirical science and be open to changes when economic experience shows that the current system of rewarding commercial (including rental) real estate investment does not make housing more affordable for common people.

 

[Fletch]

which is why i posted what i did to make what should have been obvious apparent to those who did not 'get' it the first time

the debate politics members who are also admirers of their cult leader did not only recently insist tRump was not responsible for the treason of january 6, 2021, they have long held that position

thus, being a member of debate politics for the span of a year, or less, does not change that reality

You are allowed to express your ignorant opinions and so is he. I was just pointing out his ignorant opinions were based on nothing but ignorance.

 

[Mulefoot]

Would you be surprised that people buy real estate for the write-offs?

That's a bad reason to buy something, but no. Not surprised.

 

[Paradoxical]

I was not talking about Trump. Classic stupidity is to let others impose their preferred rules and trying to beat them in a game they designed to maximize their advantages.

As I said, one can change the rules in a way that helps more the common people and tell the rich guys "Look. if you don't like it, get the tax laws changed or do not invest that ,much in real estate."

If there is anything that we have seen up until now is that the type of real estate commercial investment we have today makes rents (including housing rents) less affordable for common people. The most developed real estate markets have rents that impose the heaviest burden on most people. Sane people should realize that economics should be treated as an empirical science and be open to changes when economic experience shows that the current system of rewarding commercial (including rental) real estate investment does not make housing more affordable for common people.

What was Trump to do? NOT follow the tax laws?

Look, I know you folks have egg all over your face that this turned out to be a nothing burger.,.,.,AGAIN Now you are trying to make into whether or not housing is affordable like a socialist would whine about? This was about Trump not paying taxes and many of you thought he did something illegal.

 

[Paradoxical]

That's a bad reason to buy something, but no. Not surprised.

Do you think he's the only one that uses the tax code to his advantage?

Pamak here seemed to think that this makes rents higher. If someone owns rental real estate and pays MOPRE taxes, would the rent be less for you than if he paid FEWER taxes?

Geez. Don't they teach economics and logic in skool anymore?

 

[Casca XV]

When you’re a celebrity, you can do anything…



View attachment 67428015

Unlocked NYT story for y’all:

Trump Paid $1.1 Million in Taxes During Presidency, but $0 in 2020, Report Shows (Published 2022)

The former president reported a burst of income after entering the Oval Office, but by the end of his term, his tax filings had reverted to large losses, according to data released by a House panel.

www.nytimes.com

First, he never accepted a Presidental salary, aside from Geroge Washington he was the only President to ever do that.

Second, we pay taxes on income we earn. With Blue state Democrat Governors using Covid to sabotage the best economy in 50 years, 2020 ended up being a bad year for everyone. Not to mention that, thanks to Creepy Joe, every year since has been worse.

 

[Casca XV]

Think of one politician hated more than Trump

Try to think of one president more successful than Trump.

Up until Democrats used Covid to sabotage it, the US had the best economy in 50 years under Trump, and even in 2020 we maintained the best economy in the G-7, (today we have the highest inflation in the G-7).

Our foreign policy under Trump was spectacular. Jimmy Carter got a Nobel prize for a Middle East peace deal. Trump did the same thing three times over, and unlike Carter's peace deals Trump's seem to be lasting.

The only problems we seemed to have had was the Left rioting and burning.

 

[pamak]

What was Trump to do? NOT follow the tax laws?

Look, I know you folks have egg all over your face that this turned out to be a nothing burger.,.,.,AGAIN Now you are trying to make into whether or not housing is affordable like a socialist would whine about? This was about Trump not paying taxes and many of you thought he did something illegal.

Trump could support a different legislation, He became president on the premise that he could fix things because he knew the system better than anyone else. In reality, as it was expected, he promoted a system which gave even more benefits to the wealthy. But in any case, my comment was not about Trump. It was about your attitude that common tax payers should not complain when they are forced to play a game that was designed by the rich in order to benefit the rich because everybody supposedly can play with the same rules. In reality, only the rich can benefit from a system that mainly benefits those who have the resources to invest vast amounts of money in real estate development.

 

[Paradoxical]

Try to think of one president more successful than Trump.

Up until Democrats used Covid to sabotage it, the US had the best economy in 50 years under Trump, and even in 2020 we maintained the best economy in the G-7, (today we have the highest inflation in the G-7).

Our foreign policy under Trump was spectacular. Jimmy Carter got a Nobel prize for a Middle East peace deal. Trump did the same thing three times over, and unlike Carter's peace deals Trump's seem to be lasting.

The only problems we seemed to have had was the Left rioting and burning.

Veritas had a slick female talk to CNN Director Chester who told her they used FEAR to ruin Trump and he was proud of it.

 

[bomberfox]

Paul Ryan’s wettest of wet dreams!

 

[Paradoxical]

Trump could support a different legislation, He became president on the premise that he could fix things because he knew the system better than anyone else. In reality, as it was expected, he promoted a system which gave even more benefits to the wealthy. But in any case, my comment was not about Trump. It was about your attitude that common tax payers should not complain when they are forced to play a game that was designed by the rich in order to benefit the rich because everybody supposedly can play with the same rules. In reality, only the rich can benefit from a system that mainly benefits those who have the resources to invest vast amounts of money in real estate development.

So lemme get this straight. If I own an apartment building and my tax burden is 0 a year net because I can write off depreciation and tax laws are changed to not allow that and as a result I now pay $50,000.00 a year in taxes or $500.00 a unit for my 100 unit building would you expect if you were a tenant that your rent would go up or down?
folks the above is actually a great lesson of hiw capitalism works. Whether it be an oil company, a machine maker or a real estate owner they MUST pass the taxes onto their customers. Think of this example next time you want more taxes for corporations. It is common sense. Your rent goes UP when the owners taxes go up. Your cost of anything goes up when a company’s taxes go up.

 

[uptower]

 

[Threegoofs]

Hmmm.

This might help explain the lack of mandatory audits…

Trump’s IRS chief has made hundreds of thousands from Trump properties while in office - CREW | Citizens for Responsibility and Ethics in Washington

Charles Rettig has made hundreds of thousands of dollars renting out Trump properties while refusing to release Trump's tax returns.

www.citizensforethics.org

 

[PIPEWRENCH]

When you’re a celebrity, you can do anything…



View attachment 67428015

Unlocked NYT story for y’all:

Trump Paid $1.1 Million in Taxes During Presidency, but $0 in 2020, Report Shows (Published 2022)

The former president reported a burst of income after entering the Oval Office, but by the end of his term, his tax filings had reverted to large losses, according to data released by a House panel.

www.nytimes.com

No income no tax. You don't pay taxes when yo don't have income. What so hard about this. Before I started working I never paid a penny income tax. You do know this applies to everyone not just Trump.

 

[Citizen]

Nuff said


View attachment 67428598

One thing about beloved presidents, they can make lots of money after their presidency. Why isn’t GWB on your list?

 

[snakestretcher]

Fair enough. I’m curious if further investigation shows he did nothing wrong if you and others will accept it.

Just as soon as he stops whining and accepts he lost against Biden. Fair enough?

 

[snakestretcher]

2015-2020 Tax Returns,

The POTUS and VPOTUS are under Mandatory Audit

4.8.4 Mandatory Review | Internal Revenue Service

www.irs.gov

4.8.4.2.4 (03-12-2015)

Audit of President and Vice President​

1. The individual tax returns for the President and the Vice President are subject to mandatory review and will be closed directly to the "employee audit reviewer" in Baltimore Employee Audit Contacts. See IRM 4.2.1.15 (8), Processing Returns and Accounts of the President and Vice President. The "Other" box in the "Forward to Technical Services" section of Form 3198 must be checked, and the examiner should notate "President (or Vice President) Examination, Forward to South Atlantic Area Technical Services Legacy Baltimore" . The examining area will notify the group manager for the Baltimore Technical Services when the return is being shipped. Baltimore Technical Services will provide advance notice to Memphis Centralized Case Processing (CCP), "Miscellaneous Group" , when the return is being closed.
2. The location of the returns of the President and Vice President will be monitored at all times throughout the examination process.
   1. The returns should always be kept in an orange folder.
   2. The returns should not be exposed to viewing by other employees.
   3. The returns should be locked in a secure drawer or cabinet when the examiner or reviewer is away from the work area.
   
   
3. See IRM 4.8.4.2.3.3(1) (a) and (b) for key points to remember during the review of the returns.
   
   
   
   
   
   Who is lying, him or you?
   Lastly, The IRS HAS his taxes, which specialize in Taxes..... people in this thread as well as the House committee, how many are CPA's and know more than the IRS Auditors/Accountants/CPA.

Opine all you want, they have his taxes and likely during his Presidency he is a public servant, so his taxes would eventually be public record.

lastly.... He donated his Presidential Salary.....so no surprise his individual income was low. And finally...... "COVID" crushed business's period and LOTS of COVID write-offs as well as tax incentives.

IRS got it and during the audit could have easily accused him of crimes...... yeah we are in year 2022.... if they didnt find it by now....... Hows that Russian interference thing going??

Who did Trump 'donate' his salary to?

Donald Trump did not appear to donate his salary from his last 6 months in office as promised, says report

Trump promised to give away his presidential salary while in office, but The Washington Post could not account for the final $200,000.

www.businessinsider.com

Mystery of $220,000 of Trump’s presidential salary that he promised to donate but disappeared

Trump boasted that he was foregoing ‘a lot of money’

www.independent.co.uk

 

[Paradoxical]

One thing about beloved presidents, they can make lots of money after their presidency. Why isn’t GWB on your list?

Maybe you can tell us more about Bush?