Taxdodge Trump

#1
lawgator1

lawgator1

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#1
Trump's fight to slash the taxes on his $50 million golf course - Jan. 18, 2017

He's currently suing Ossining to try to lower the taxes on one of his golf courses, Trump National Golf Club Westchester.

"He pays [his taxes] every year with a stamp that says 'paid under protest,'" said Gloria Fried, Ossining's receiver of taxes. Trump argues that Ossining is taxing him based on a property value that's way too high.

This isn't the first time Trump has fought a property valuation. In fact, CNN found thatit's part of a pattern -- he's fought the tax assessments of all 12 of his U.S. golf courses except the one in Bedminster, New Jersey. On that course, he raisesgoats to qualify for a New Jersey farmland tax break.
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For now, Trump is paying taxes on the course based on its assessed property value, which the town says is $15.1 million dollars. In the lawsuit, Trump says the property is worth just $1.5 million. That would mean a much smaller tax bill.

.....

In financial disclosure records that he released in 2015, Trump said the course was worth $50 million, far more than the $1.5 million value he's put on it in court.

Fried, Ossining's receiver of taxes, told CNNMoney she can't believe Trump is now saying the property is worth so little.

"A golf course that's surrounded by $1 million homes and the course [itself] has the same value?" Fried asked.

It could be years before Trump'slawsuits are resolved, though Gonzalez says the town is willing to negotiate and settle. But there's no indication that Trump plans to drop the suit.

He added that if Trump were to put his course up for sale, its market value would be about $45 million.
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No wonder he doesn't want anyone to see his tax returns.


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#7
#7
From the article he saved over $600k fighting the 08 assessment. If that's good for 4 years that's almost $2.5M in avoided taxes. As long as the legal fees are less than the potential savings it's makes business sense to do this. "It's for the children" is a weak excuse for municipalities to overvalue property.
 
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#10
#10
Despite the fact that LG cannot understand that tru.ps personal taxes and his businesses are 2 separate things and his tax return would not show all his dealings....i bet trump personally pays more taxes this year than LG has paid in his career.
 
#12
#12
marcusluvsvols said:
Despite the fact that LG cannot understand that tru.ps personal taxes and his businesses are 2 separate things and his tax return would not show all his dealings....i bet trump personally pays more taxes this year than LG has paid in his career.
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Given the amount of time LG spends here, he's not billing many hours. At least he shouldn't be.

And on a site created for fans and alum of a rival team, no less :lol:
 
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#14
#14
DC_Vol said:
Given the amount of time LG spends here, he's not billing many hours. At least he shouldn't be.

And on a site created for fans and alum of a rival team, no less :lol:
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He's no lawyer. He's Gomer on Andy Griffith show. He's nothing but a big Screech loser.
 
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#15
#15
One person who may know less about taxes than LG is the author herself:

Ahiza Garcia joined CNNMoney.com as a breaking news reporter in June. She previously worked at Talking Points Memo. Garcia has a bachelor’s degree in psychology from Columbia University and a master’s in digital journalism from Syracuse University. For more money news, follow CNNMoney.com on Twitter and “Like” on Facebook.

Still waiting on similar stories from CNN on Obama.
 
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#16
#16
Ernest T. Vol said:
One person who may know less about taxes than LG is the author herself:

Ahiza Garcia joined CNNMoney.com as a breaking news reporter in June. She previously worked at Talking Points Memo. Garcia has a bachelor’s degree in psychology from Columbia University and a master’s in digital journalism from Syracuse University. For more money news, follow CNNMoney.com on Twitter and “Like” on Facebook.

Still waiting on similar stories from CNN on Obama.
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Dual degrees in psychology and journalism is primo for fake news, no?
 
#18
#18
Trump will find himself in Catch 22 situations on a daily basis. He will see that all of the little loopholes that he has so expertly taken advantage of are not contributing to the greater good. (something he has never been willing to see in the past) He may come out of this a changed man. Time will tell.
 
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#20
#20
luthervol said:
Trump will find himself in Catch 22 situations on a daily basis. He will see that all of the little loopholes that he has so expertly taken advantage of are not contributing to the greater good. (something he has never been willing to see in the past) He may come out of this a changed man. Time will tell.
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WUT?

Also, please define loophole.
 
#25
#25
lawgator1 said:
Goats on the golf course = big savings.
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Jon Bon Jovi does the same thing. He owns millions of dollars worth of property in New Jersey and gets out of paying taxes by claiming he's a "farmer" by putting some livestock on an acre or two.

Big ****ing deal.
 
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