Page 2 of 16 FirstFirst 123412 ... LastLast
Results 11 to 20 of 151

Thread: Trump appears to have committedTax Fraud

  1. #11
    Quote Originally Posted by Sapidus View Post
    I keep learning more and more about you. Now I know you don't even have a job since you can't be more than 14 with that comment.
    whooosh.
    "It must be inordinately taxing to be such a boob."
    The Brain

  2. #12
    Quote Originally Posted by vraiblonde View Post
    Except for the part where if he sold them, it wouldn't have been a gift.
    That's why reading articles prior to commenting is so important. If you gift it for less than the true value you must still pay taxes on the true value.

  3. #13
    Awww, jeez Monello's Avatar
    Member Since
    Mar 2008
    Location
    Canaryville AKA St. Monello
    Posts
    7,260
    Blog Entries
    7
    APPEARS

    I thought Mueller was investigating Russian links.
    "Is Uncle Monello homeless?"

    Monello thinks he is king of the forum, now. Just keep that in mind.
    What bad thing did you do?

  4. #14
    Quote Originally Posted by Sapidus View Post
    That's why reading articles prior to commenting is so important. If you gift it for less than the true value you must still pay taxes on the true value.
    So, he sold property, paid tax on what was paid for the property, and someone comes along and suggests that maybe possible it could be that he may have gifted some of it (the part that wasn't sold?) because it could possibly have been worth more than what was paid, and that could mean that maybe he owed more taxes. This was discovered during a check of whether or not people in his campaign colluded with the Russians and committed a crime, though not a single person yet anywhere at any time has suggested what that crime would be.

    Whew, that's some solid #### right there.
    There are only two possibilities; one is that we are alone in the universe, the other is that we are not.
    Both are terrifying.

  5. #15
    Quote Originally Posted by Monello View Post
    APPEARS

    I thought Mueller was investigating Russian links.

    I do have to admit though - I do now kind of get why people were pissed at Ken Starr in the 90's, when he began investigating Whitewater and ended up with a blue dress.
    Even though at the time, it kind of pissed me off that the Clintons sure seemed to be steeped in scandal left and right and were getting away with it, that pretty much anything was good to see.
    I mean, the Rose Law firm records just "appearing" on a coffee table long after they'd been lost or unable to be found seems to be along with "you mean, with a cloth?" kind of stunt or "we were just talking about our grandkids " kind of innocent story.

    I think ultimately I am going to be pissed if people end up being jailed or prosecuted because of their testimony without an actual crime having to do with anything.
    I don't get how that happens.
    ďGood intentions will always be pleaded for every assumption of authority. It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters.".Daniel Webster

  6. #16
    Quote Originally Posted by SamSpade View Post
    I think ultimately I am going to be pissed if people end up being jailed or prosecuted because of their testimony without an actual crime having to do with anything.
    I don't get how that happens.
    Politics

  7. #17
    fake news


    Quote Originally Posted by Sapidus View Post
    It seems we now know why Trump didn't want to publish his tax returns.

    He sold two Condos to his son at a discounted rate without paying the gift tax.

    This is probably keeping Mueller very busy

    From Mediate instead of Wapos's pay wall.


    "Based on New York City property records, Trump paid $13,000 in taxes related to the two sales, which indicates that he didnít treat the transactions as a gift and likely didnít pay those taxes. And, as the attorneys further explained, this could lead to fines or even possible jail time.

    Willful failure to file a tax return, including a gift tax return, is a misdemeanor, punishable by a $25,000 fine, imprisonment of up to one year or both. Fraudulent failure to file ó meaning an overt act of evasion ó may elevate willful failure to a felony. That carries a fine of up to $100,000, imprisonment of up to five years or both, along with the costs of prosecution."

    https://www.mediaite.com/online/did-...yers-think-so/
    "IYAOYAS" and a Proud Deplorable

  8. #18
    Registered User
    Member Since
    Jan 2014
    Posts
    23,252
    Quote Originally Posted by h3mech View Post
    fake news
    Does anyone believe Trump does his own taxes?
    Does anyone know that you have to pay taxes because you sold your son a property at a discount?
    Has anyone here ever given anything to their son at a discount rate.? (Boy that should be punishable by law.)

    Of course Trump pays people to figure things like this out.
    If there was a mistake made I am sure he will correct it. ( He has to., what choice does he have?)
    Seems Mr. Mueller and all of his Democrat lawyers are digging deep.

  9. #19
    Oldtimer Ken King's Avatar
    Member Since
    Feb 2001
    Location
    Up the hill and down the holler
    Posts
    14,836
    Maybe Trump applied that "gift" to his lifetime exclusion. From the IRS -
    6. Each Donor Has a Lifetime Exemption

    This refers to the total amount that an individual can give away during their entire lifetime. If your gift exceeds the $14,000 annual threshold, it must be reported as a taxable gift on Form 709 — however, that doesn’t necessarily mean you’ll have to pay the gift tax. Instead, you can apply the gift towards your lifetime exclusion from the Federal estate tax.

    The “basic exclusion” (also known as the “unified credit”) represents both the lifetime gift tax exemption and the estate tax exclusion, signified as a total amount of $5.34 million. The current law allows individuals to give away up to $5.34 million over their lifetime without having to pay gift or estate taxes.

    But keep in mind; any portion that’s used to avoid the gift tax reduces the amount that will be exempt from estate tax. For example, if you used $2 million of the exemption to make taxable gifts during your lifetime, you will only be able to exclude $3.34 million from the estate tax. If you surpass the $5.34 million limit, you (or your heirs) will have to pay up to 40% tax.
    Or maybe the sale was through his corporation -
    4. You May Need to File a Gift Tax Return (Form 709)

    In general, you must file a Federal gift tax return (IRS Form 709) if you gave someone more than $14,000 during the year. In some cases, you are required to file Form 709 even if your gift was below the $14,000 annual exclusion. Note that only individuals are responsible for filing gift tax returns — corporations or trusts that make gifts will pass the filing and payment responsibilities onto their individual stockholders or beneficiaries. Additionally, a married couple cannot file a joint gift tax return.
    And one more thing, as no one other than the IRS has seen the tax filings of Trump, is it known, versus suggested, that he didn't pay the tax?
    Last edited by Ken King; 08-07-2017 at 08:06 AM.

  10. #20
    INGSOC GURPS's Avatar
    Member Since
    Nov 2012
    Location
    Peoples Republic Of Maryland
    Posts
    33,865
    Quote Originally Posted by Ken King View Post

    From the IRS - Or maybe the sale was through his corporation -


    Poor Sappy assumes everything Trump does he is personally responsible for - his businesses never do anything
    Weíre tempted to suggest a conspiracy here ó but itís just liberals agreeing yet again that conservatives have hidden, evil motives, because modern liberals simply canít conceive of any other reason to disagree with the liberal consensus.

Members who have read this thread: 76

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Search:     Advanced Search
Search HELP

| Home | Help | Contact Us | About somd.com | Privacy | Advertising | Sponsors | Newsletter |

| What's New | What's Cool | Top Rated | Add A Link | Mod a Link |

| Announcements | Bookstore | Cafe | Calendar | Classifieds | Community |
| Culture | Dating | Dining | Education | Employment | Entertainment |
| Forums | Free E-Mail | Games | Gear! | Government | Guestbook | Health | Marketplace | Mortgage | News |
| Organizations | Photos | Real Estate | Relocation | Sports | Survey | Travel | Wiki | Weather | Worship |