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RE: The perks included school tuition for his grandchildren, a rent-free Manhattan apartment and lease payments for his luxury car.

My company paid for my lease car when I did business for them and allowed me to use the car personally even outside of business, should I have declared this as income for the purpose of taxation?

And oh yeah, my company also paid for my hotel expenses including meals when I visited their HQ out of state ( also paid for my airfare ). Are these income as well?

I never declared them. Been doing this for years. Am I guilty of tax evasion?

1 posted on 08/18/2022 9:37:42 PM PDT by SeekAndFind
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To: SeekAndFind
And oh yeah, my company also paid for my hotel expenses including meals when I visited their HQ out of state ( also paid for my airfare ). Are these income as well?

The technical answer is no, they are not considered income under tax law. There are categories that define the business expenses you describe that you are not responsible for.
2 posted on 08/18/2022 9:42:08 PM PDT by Observator
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To: SeekAndFind
Manhattan District Attorney Alvin L. Bragg, who is usually soft on crime,

There will be a reckoning for these people in the future.

3 posted on 08/18/2022 9:42:45 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: SeekAndFind

He agreed to testify. Under oath. Whether that is “against the Trump organization” remains to be seen.


8 posted on 08/18/2022 9:58:47 PM PDT by bigbob (z)
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To: SeekAndFind
I can only say, the government tried to say that when we did taste testing that the food needed to be declared as "income" and tax paid on it.

The legal department had a field day and threatened to go public about Uncle Sam going after hourly workers for accepting a teaspoon of ice cream.

That was a number of years ago.

And the answer is probably yes on the car.

You might want to talk to your company's legal about it.

The IRS is guano crazy.

12 posted on 08/18/2022 10:19:43 PM PDT by Harmless Teddy Bear (The nation of france was named after a hedgehog... The hedgehog's name was Kevin... Don't ask)
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To: SeekAndFind

87,000 armed IRS agents would like to have a talk with you.

Actually, I think technically you are supposed to declare the amount of personal use of the car. But don’t quote me on that.


13 posted on 08/18/2022 10:47:06 PM PDT by Do_Tar (I wish I was kidding.)
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To: SeekAndFind

Is this federal tax evasion, or state of New York? I have not heard anybody in the media identify that.

As far as what is compensation and what is not, remember that we are talking about tax law. That does NOT have a firm relationship with reality; it’s more like a passing acquaintance. Think of “it’s just Lunch”


15 posted on 08/19/2022 12:58:08 AM PDT by Bernard (“the rights of man come not from the generosity of the state but from the hand of God." JFK 1-20-61)
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To: SeekAndFind
I never declared them. Been doing this for years. Am I guilty of tax evasion?

Yes, and I've just reported you!

(Heh-heh!)

Regards,

16 posted on 08/19/2022 3:43:17 AM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
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To: SeekAndFind

This is one where I disagree and the tax laws were broken. The tuition is especially problematic as I see under no circumstance that these should have been paid by the company and not reported as taxable. Now, how he is being treated versus how others that might do something similar is the question.
Are they normally criminally charged and jailed or just audited and have to pay taxes and penalties, that I do not know.


17 posted on 08/19/2022 4:29:28 AM PDT by gunnut
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To: SeekAndFind
Sadly, your personal use of the lease car is considered a taxable fringe benefit! Thousands of people have at some time had such a benefit (myself included), I never saw a case where it appeared as compensation on a W-2!
18 posted on 08/19/2022 5:00:21 AM PDT by ExSES (the "bottomhttps://youtu.be/ycrqXJYf1SU-line")
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To: SeekAndFind

Since when is it my employers responsibility to ensure I file my taxes properly?


21 posted on 08/19/2022 8:19:29 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: SeekAndFind

“Meaning that even if prosecutors prevail in the fall, The Donald himself won’t be shipped off to Rikers.”

Foreign and Domestic Enemies of President in Exile Trump, deeply saddened. :(


22 posted on 08/19/2022 2:34:00 PM PDT by Diana in Wisconsin (I don't have, 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set. )
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