Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Interesting... Did you know that Buffett's net worth was the same as Trump in 1974? Now he is worth $70 Billion; 14 times as much as trump? And this is after he gave away ~$3B to charity.
Trump was brilliant. He obviously hired the right tax attorney because that person saved him a TON. I'd say Trump had a LOT to do with choosing who he hired.
Maybe, but he had MORE to do with LOSING NEARLY $1 BILLION. He then had to rely on one of those people he hired to save his butt. If you think that's "brilliant" - well, you still think Trump is going to win the election, so what do you know?
Would you happen to have tax returns that are as intricate as either Gates or Buffett? If not then you being able to do your own taxes doesn't pertain.
My taxes have a few schedules and I can also understand corporate taxes forms. When you get used to filling out forms and interpreting them it's not that hard to figure out. Of course they will hire experts but they are not gonna look at their 1040 with a blank face. Someone as bright as Gates would figure tax forms in a few minutes. I have dealt with bright people before, they understand concepts pretty quickly.
I don't know if Trump has learned anything throughout the years but according to this article, he is totally clueless about taxes. He thought paying taxes on his "consulting" business income was double taxation. Nevermind the business was reported on his personal return(Schedule C)
Trump had reported no personal income in his 1984 federal income tax but reported a $2,365,352 capital gain from the sale and total deductions of $626,264. Yet Trump had not provided documentation justifying the deductions.
That year, Trump reported his principal business activity as “consulting” — but reported no income or receipts from this activity, the judge wrote. He reported a negative taxable business income of $619,227.The judge ruled that Trump was “engaged in a taxable trade or business” and was, therefore, subject to the business tax. The judge didn’t buy Trump’s complaint that he was being double-taxed. The judge said, “The problem at issue is not one of double taxation, but of no taxation.”
My taxes have a few schedules and I can also understand corporate taxes forms. When you get used to filling out forms and interpreting them it's not that hard to figure out. Of course they will hire experts but they are not gonna look at their 1040 with a blank face. Someone as bright as Gates would figure tax forms in a few minutes. I have dealt with bright people before, they understand concepts pretty quickly.
I don't know if Trump has learned anything throughout the years but according to this article, he is totally clueless about taxes. He thought paying taxes on his "consulting" business income was double taxation. Nevermind the business was reported on his personal return(Schedule C)
Dont ya think maybe that was a learning lesson and thus why he separates out his business activities from personal now, and thus the personal returns, would be worthless, without the business ones being released as well, in order to get the full picture?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
