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Newly uncovered tax documents show Trump 'kept two sets of books for his buildings in New York City
Daily Mail (UK) ^

Posted on 10/17/2019 2:02:27 AM PDT by TigerClaws

Full title: Newly uncovered tax documents show Trump 'kept two sets of books for his buildings in New York City - one for lenders and another for inspectors - and may have committed financial fraud'

Tax documents relating to President Donald Trump's properties in New York City have been uncovered - with experts suggesting they could point to financial fraud.

The documents obtained by ProPublica were part of records detailing four Trump properties: The Trump International Hotel and Tower, 40 Wall Street, Trump Tower, and 1290 Avenue of the Americas.

The website claims that there are discrepancies in the tax records for 40 Wall Street and the Trump International Hotel and Tower which could raise concerns.

The numbers appear to show he gave different figures to lenders than NYC tax officials.

Newly uncovered tax documents show Trump 'kept two sets of books for his buildings in New York City - one for lenders and another for inspectors - and may have committed financial fraud'

Tax documents relating to President Donald Trump's properties in New York City have been uncovered - with experts suggesting they could point to financial fraud.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Crime/Corruption; Government; News/Current Events; Politics/Elections
KEYWORDS: propublica; trump
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To: TigerClaws

Yes, one set was GAAP accounting (for banks, which require accrual) and one set was tax accounting (for taxes).

Every company of any size has this because banks want accrual and taxing authorities want tax.

And they diverge. For example, I. 2017 Trump prepaid insurance for 2018. The cost shown in 2017 for tax was the entire amount. The GAA0 accrual method shows less as the expense is accrued over to 2018.

This story is one of the most patently dishonest things I’ve ever read.


21 posted on 10/17/2019 3:58:49 AM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: chrisser
When I was in the bar business, I really did keep two sets of books and the feds never saw mine.

They had very strange rules, and back in the 70s cash was a great leveler, today, not so much.

We did many things "off the books", and as much as I hate the feds, I'm only sorry, I didn't do more.

With all of the tracking methods that are in place today, I wouldn't have a clue how to operate "close to the line".

22 posted on 10/17/2019 4:02:27 AM PDT by USS Alaska (Nuke the terrorist mooselimb savages, today.)
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To: Jewbacca

Excellent example.


23 posted on 10/17/2019 4:07:17 AM PDT by Mouton (The media is the enemy of the people.)
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To: skr

No kidding.

Of course the properties have a tax value and a bank value.

Fools have nothing burger


24 posted on 10/17/2019 4:09:14 AM PDT by Chickensoup (Voter ID for 2020!! Leftists totalitarian fascists appear to be planning to eradicate conservatives)
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To: USS Alaska
With all of the tracking methods that are in place today, I wouldn't have a clue how to operate "close to the line"

I've wondered about this too in a general sense. I'm sure various agencies have the power to put you under a microscope if the need arises. The question is, how much can they do to everyone generally, and how much is recorded so they can come back and do it later.

I wish I believed that, if the feds had the ability to survey everyone, they would address the blatant criminal activity that we see, from border jumping, to identity theft, to waste/fraud/abuse by government employees to corruption in government leadership. But, I don't believe the absence of seeing that result means they don't have that power.

I'm sure that if we ever do push back hard against the deep state, we'll find out in short order just what they're capable of.
25 posted on 10/17/2019 4:40:23 AM PDT by chrisser
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To: TigerClaws

The reality is that there ARE different numbers for lenders and governments.

That’s why, when you buy or sell a house, the price is usually not equal to the assessed value. Your loan is based on anticipated market value. Commercial properties, like Trump’s, adds the complicating factor of anticipated revenue.


26 posted on 10/17/2019 4:43:34 AM PDT by fruser1
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To: TigerClaws

DM the trump hate site.
Trump won a huge court settlement against this
left wing hater rag .


27 posted on 10/17/2019 4:43:40 AM PDT by ncalburt (Gop DC Globalists)
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To: skr

I do divorces for people and we always need an appraisal by a certified appraiser to determine value of a property and the appraised value for taxes is totally different.


28 posted on 10/17/2019 4:43:44 AM PDT by yldstrk (Bingo! We have a winner!)
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To: TigerClaws

I think taxing authorities assess the value of physical structures, while lenders would be interested in the value of physical structures plus future earning potential.

Things could differ in various jurisdictions, but I don’t think property taxes are assessed on future earnings potential.


29 posted on 10/17/2019 5:08:38 AM PDT by Will88 (The only people opposing voter ID are those benefiting from voter fraud.)
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To: TigerClaws

From NewsBusters:

ProPublica is a liberal investigative journalism outfit that has received $300,000 from George Soros’ Open Society Foundations since 2000 and millions of dollars from the liberal Sandler Foundation.


30 posted on 10/17/2019 5:16:03 AM PDT by Lee'sGhost ("Just look at the flowers, Lizzie. Just look at the flowers.")
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To: billyboy15

I’ve been through this process all the way to the Appeals Court where I won.


31 posted on 10/17/2019 5:16:59 AM PDT by tired&retired (Blessings)
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To: TigerClaws

Fake News


32 posted on 10/17/2019 5:24:31 AM PDT by stockpirate (Anyone who believes Epstein killed himself is a fool)
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To: TigerClaws

I thought two sets of books in such financial situation was rather common. Who would want to show potential investors all financial information? Some of which I am sure is private.


33 posted on 10/17/2019 5:24:42 AM PDT by lastchance (Credo.)
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To: TigerClaws

I was shocked at how new ProPublica is. I consider it a looney leftist outfit https://en.wikipedia.org/wiki/ProPublica#%22An_Unbelievable_Story_of_Rape%22


34 posted on 10/17/2019 5:56:11 AM PDT by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: TigerClaws

We get it, and Romney hasn’t paid taxes in 10 years either.


35 posted on 10/17/2019 5:57:20 AM PDT by BobL (I eat at McDonald's and shop at Walmart - I just don't te Don'tll anyone.)
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To: Mouton

Yeah it’s their big “smoking gun” example of fraud.

What it does, in reality, is expose what a joke this is.


36 posted on 10/17/2019 5:57:21 AM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: TigerClaws

I’m going to go out on a limb and say Trump didn’t do his own accounting work.


37 posted on 10/17/2019 5:58:20 AM PDT by AppyPappy (How many fingers am I holding up, Winston?)
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To: TigerClaws

Daily Mail is worse than CNN when it comes to Trump.
They lost a huge settlement to our Prez...bout $150million.


38 posted on 10/17/2019 6:05:55 AM PDT by rrrod
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To: TigerClaws

“”” The website claims “””

No need to read any further


39 posted on 10/17/2019 6:26:55 AM PDT by Pollard (If you don't understand what I typed, you haven't read the classics.)
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To: TigerClaws

“Lock him up!” Cried wolf boy, for the 27th time...lol


40 posted on 10/17/2019 6:32:50 AM PDT by richardtavor
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