The Times ought to know — because the New York Times Company and the Ochs-Sulzberger family that control it have done the same things.
Posted on 10/01/2020 7:22:26 PM PDT by Enterprise
The New York Times’ investigation of President Trump says the president used big tax losses in some years to avoid paying taxes in others, that he invested some of his profits into money-losing businesses, and that Mr. Trump paid his daughter as “a way to transfer assets to his children.”
In addition, it says that Mr. Trump’s businesses are propped up by foreign revenue and that Mr. Trump “has written off as business expenses costs — including fuel and meals — associated with his aircraft, used to shuttle him among his various homes and properties.”
The Times ought to know — because the New York Times Company and the Ochs-Sulzberger family that control it have done the same things.
(Excerpt) Read more at nysun.com ...
Any large business that doesn’t use what is available to them under the law to keep as much capital as possible is stupid.
The Times ought to know — because the New York Times Company and the Ochs-Sulzberger family that control it have done the same things.
“Any large business that doesn’t use what is available to them under the law to keep as much capital as possible is stupid.”
The same goes for you and me. DO NOT give Mother Government ANY of your hard-earned cash in an interest-free ‘loan’ for 365 days.
Read a tax table. KEEP your money all year, owe as little as you can, don’t live for a ‘refund’ because they then count THAT as ‘taxable income’ for the next year.
It’s insanity! Educate yourselves. You’ll thank me later.
My best tax year had me paying the state of Wisconsin $50 and I got $100 back from the Feds in a refund. That was the closest I’ve ever been able to cut it, and I’ve always done my own taxes. It can be done! :)
Well, yes, of course it applies to small businesses and individuals. They just don’t have the variety of options a big business does.
Got it! :)
OTOH there ought to be a Tax Complaint tax.
Anyone who complains that taxes aren’t high enough should have to pay a tax.
For each complaint. :)
I thought businesses have to pay taxes quarterly.
I have CPA do my taxes. I have trouble with depreciation schedules. This year, if God forbid Biden steals the election, I will se accelerated depreciation. According to my accountant, it will keep me from paying taxes
Yes, payroll taxes for sure, for businesses.
Beau has his broken down quarterly; he’s just too successful, even in retirement. ;) Actually, the problem lies in having no debt to write off anymore, but still having a taxable income from SS and a Pension.
They’ll get it from you any way that they can, but Beau has a good accountant, so it’s kept to the minimal owed.
I won’t have any taxable income until I start drawing SS in two years. Well, any that YOU know of, LOL! ;)
State of Wisconsin does that, not the Feds. Sorry for the confusion. Just a bone of contention wit me. Not sure if other states do that too, but probably. :)
And none of that is illegal.
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