Trump's financials
- Thread starter SSG T
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Does anyone here think tax returns are what the AG is targeting? I doubt thinking adults with half a brain do.
Are the 1040 forms terra bytes of information? JFC, wise up. It's the supporting accounting and banking documentation.
When he is paying himself from those entities, they are inclusive.
I own 5 businesses and dozens of commercial real estate assets. Business returns provide a SUMMARY of assets and liabilities only. The names of any lender are not included in the return. A full blown audit(of the business)of course could eventually determine the lender(via the lender statement), but the tax return itself would only show if a loan or liability exists and doesn't provide any clues of who a lender could be.
All summaries of business returns flow through to the personal return. What would be shown on his personal return are his K-1s and associated income or loss for each entity, with little detail. Sorry, that's the facts.
Just because his do, doesn't mean everyone else's do.
I get to do loads of Schedule C stuff, and my taxes really aren't that complex.
Which, again, can be lined up with public records and bank info on loan & asset valuations.
Remember: he doesn't play "straight up" with his finances; it's literally why his charity was found to be fraudulent. Looking at how blatant those violations were, you can only imagine how bad the taxes and supporting records are.
Your tax returns are the dots in the i's and the crosses in the t's for evidence building. The feds are going to be very thorough and it's why they win cases. Maybe the returns won't show evidence of wrongdoing, but they are going to go over them to find out.
Given the vigor with which the cult members will defend Trump in this thread, or that millions of republicans still refuse to acknowledge that Biden won I will say that you are wrong.
I do not know how this will shake out. Trump has used the legal system to his advantage for decades. He has been able to stave off many legal challenges. He has also been great at lying and weaving a narrative that he’s 2500-0 in legal matters. He’s lost or settled plenty of cases.
Vance and James are not rookies. They are expending resources and fighting for testimony and documents. They have brought in experts to assist them. It’s laughable to see so many people die on the hill of, “The tax returns are meaningless / won’t show anything”, in this thread.
The returns are one piece of the puzzle. Then they match those returns up with other documents already in their possession, and testimony they have received. Then they start asking people questions and for other documents. We know that Michael Cohen has spent hours with both the Manhattan and NY investigators. Who else has talked? Who have they implicated in crimes? Will all of those people have the same resources as Trump, or be inclined to go to prison for him?
But, maybe he pays his lawyers this time, and maybe he works the system again. Maybe the seasoned folks in NY are actually fools and wasting their time and resources.
Vance and James are not rookies. They are expending resources and fighting for testimony and documents. They have brought in experts to assist them. It’s laughable to see so many people die on the hill of, “The tax returns are meaningless / won’t show anything”, in this thread.
The returns are one piece of the puzzle. Then they match those returns up with other documents already in their possession, and testimony they have received. Then they start asking people questions and for other documents. We know that Michael Cohen has spent hours with both the Manhattan and NY investigators. Who else has talked? Who have they implicated in crimes? Will all of those people have the same resources as Trump, or be inclined to go to prison for him?
But, maybe he pays his lawyers this time, and maybe he works the system again. Maybe the seasoned folks in NY are actually fools and wasting their time and resources.
Tax returns are a starting point for sure. More than anything tired of the rhetoric stating you can find out who he owes money to or who he owes by handing over his tax return.
What are the charges in this NY case anyway? Is this the hush money case?
There are no charges yet, Just a grand jury investigation. That stemmed from the hush money payment. It has now expanded, I believe based on Cohen testimony, to include possible tax and bank fraud.
Looks like the case started out involving how Trump documented hush money. The NY AG office decided to investigate lending and insurance fraud although no lender or insurance company made a claim of fraud.
Millions of documents sounds like Trump is trying to bury the pertinent documents in an avalanche of unrelated documents.
You have to wonder why an innocent man would do such a thing?
You have to wonder why an innocent man would do such a thing?
I’m a C.P.A., I would be a little concerned if your accountant is just putting in “summary” information in the business return. Most likely you look at the 5 pages of the tax return for a 1065 or 1120 and you don’t read the statements that have the detailed information. Now there are required statements and statements not required to be file with the IRS. I would assume Trump had to turn over his full return. I think the issue we are splitting on is you think they are only receiving the 1040 with k-1 information which is just a summary of income as you state, being invoved with one court case myself, they can ask for any tax returns he is a partner, member or affiliate and they will leave no stone unturned. I also believe the will get all supporting documentation for each return. The concern as I understand is valuation of assets and basis in the sale of assets and how they tie in with financial statements, most likely something you don’t have to do with your business returns- but again what do I know regarding this topic.
Oh, really, intriguing. Corporate audits obtained by Federal subpoenas will not contain business and financial relationships. Imagine that!
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Weisselberg wouldn’t get his fingers dirty, which is why the hush money payments went through Cohen. He knew the scheme was illegal. AW is knee deep in trouble.
