Posted on 07/06/2021 4:32:00 AM PDT by RandFan
Fake news. Not income.
Daniel Hemel, a University of Chicago law professor, said
Our tax experts say that’s not even taxable. You can pay for someone’s education that way. - DTJ
And Al Sharpton still owes the Feds 4 million, plus he owes the plaintiffs in the Tawana Brawley suit millions that remain unpaid. When will he be charged criminally?
Compensation of any kind is taxable. Pretty stupid to skirt the law over 1.7M spread over so many years.
Compensation of any kind is taxable
Not true.
The IRS has not indicated any problem here.
The City of New York, however, is chasing this guy for federal taxes.
That’s not how federal tax collection works, and it is a good indication that they have absolutely nothing to charge him with.
This little item itself would seem to vindicate Weisselberg. It sounds like something a person would do if the Long Island home WAS his primary residence.
Federal and state taxes.
the following types of gifts are considered fully nontaxable:
Tuition or medical expenses paid on someone else’s behalf.
-ibd
I wonder if the governor of New York has to pay taxes based on the cost of living in the Executive Mansion.
#6 it’s another witchhunt show trial
Then taxable compensation.
Then the Trump Organization should have no problem winning in court.
Weisselberg avoided taxes on about $1.7 million of income
In most, if not all, states the governor's residence is not considered taxable compensation.
Why?
I know personally lots of executives that are going to be in trouble if this goes through. I would say at least 10% of Manhattan apartments in mid-town are corporate apartments for executives that have a house somewhere else but keep an apartment in the city. I am not sure of the kids schooling. But everything else is very commonly done. I think its possible that his divorce caused him to tell one story to his wife and another to the IRS. Where normally he would have been more consistent. In order for him to keep the corporate apartment he would need a home somewhere else. But after the divorce she probably got the other house and he had no cover. He should have bought a small investment property in Florida or somewhere.
If New Yor state and local taxes are based on a person's income reported on federal returns then if you underreport on federal taxes you also underreport on state and local taxes.
Why not? I suppose they can justify it by saying it's for security reasons but for whatever reason the state does not consider it taxable. But on the other hand states like Idaho don't have governor's mansions but instead provide a housing allowance. I wonder if that's taxable?
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