Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.
Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.
I don't understand shit about taxes but this seems brilliant.
Jacob Smith
Does this mean (((they'll))) finally fucking drop the tax returns shit
Colton Reed
Now he can say "I released my returns, have you released your emails yet?" and it looks shillery in the eye and fucks her.
Hes more open about his stuff then she is… and its gonna bite her in the ass
Aaron Reed
So in other words him not paying taxes for the last 15 years like Hillary said is completely legal and justified and anyone who has a problem with that should look towards changing the system instead of shitting on him for following the law.
Mason Wright
I don't get the tax thing. What do they expect to find? That he took advantage of legal tax credits or something?
Matthew Ward
Bingo. And added bonus, he can argue Clinton has been in power for 30 years, she has never tried to change it. It can show she isnt fixing the problems even after all this time.
Colton Clark
And? Those laws are in place to encourage entrepreneurs to take risk with capital to form new business and grow jobs in this country. There is absolutely nothing wrong with this, what would you prefer that all money is taxable regardless of whether its been a net gain or loss? That would drive countless businesses into bankruptcy.
Joshua Cox
But user, he's using loop holes and tax cuts for the rich to steal from the poor negro welfare leeches.
Ian Hall
They're for everyone, hell I've used them before though the sums are nowhere near the size you see when dealing with Trump.
I have a small apiary(beekeeping business) and the first few years were at a loss because of the initial capital outlay and focusing on hive expansion instead of honey production for sale plus I piled all revenue back into more equipment and woodware. I then carried forward those losses from those first few years so that the income wouldn't be taxable for a bit. The thing to note is that once you're back at a net profit you resume paying taxes, you only don't get taxed until you get back to the green. Of course most people don't know shit about taxes and will make this out to be a far bigger issue than it is.
Joseph Gomez
...
Levi Jackson
You mean when Atlanta city went tits up? I didn't know Trump was to blame.
Sebastian Ramirez
This. It's like they forgot about the mob's role in the casino industry. If the media delves into this, they may be opening themselves up to dealing with what is left of these fucks.
I'll have a good laugh if some leftist reporters go missing.
Jason Murphy
I don't know how it could be his PERSONAL income losses. The Casinos and Airlines are both businesses. Even if he owned the businesses you still should be running them as a registered business which means the business is what takes the loss, not you personally. This smells of bullshit.
Carson Howard
Praise KEK
Nolan Kelly
Depends how it's registered, S-corps have flow-through taxation but the whole "spread over 18 years" thing is bullshit, you can only claim annually.
Adrian Perez
If it wasn't legal, he'd be in prison. You can't tell me that someone claiming a 900+ million dollar operating loss wouldn't have half the IRS up his asshole.
Adam Robinson
He wants to simplify the tax code and seal special interest loopholes "including the ones that have been so good for … people like me."
Daniel White
I'm no tax expert, but aren't businesses allowed to write off losses against tax payment? It's like how a small business might not turn a profit for the first few years due to money loss, but they can write off a loss against their tax so they aren't completely fucked?
Leo Bell
Tax accountant here. This kind of thing is totally legit. Many of these types of losses are just paper losses. For example if you buy a Boeing 777 for $300 million you can take a loss of $15 mil per year for 20 years with the idea that it loses it's value as it gets older eventually becoming worthless. However a 20 year old 777 is probably still worth $200 mil. If you sell it you have to recognize that $200 mil as profit.
is on the right track, but wrong. Sub S corps are obsolete. Everyone uses LLCs now, they basically work the same. You can carry over losses for as long as it takes to recover them.
The idea with this tax stuff is to keep delaying your taxes forever. This is how Mitt Romney was only paying like 12%.
Luke Wright
This, this 100%
Levi Martin
halfchan is getting fagged up pretty hard by shills trying to use this as…. evidence against trump being a good businessman? a good tax paying patriot…?
what else is knew i guess.
trump literally wrote a book about it.
Zachary Sanchez
It is if the losses were externalized and/or only on paper.
Michael Rogers
So really Trump was being kind to the establishment by not releasing, he was basically saying
Liam Evans
This.
But fuck me, the shills on 4chan are unbelievable right now.
Mason Smith
smart hopefully he outjews the jews and chinks the same way as President