Grasping at straws. Frankly, I’d be pissed if Trump paid too much on taxes. The goal of any company is to maximize profits. Besides, having a brilliant entrepreneur with more money to create more wealth is a far better use of that cash than giving it to government.
From what I understood, Trump did a lot of stuff as a sole proprietor with a ton of single member LLCs. Lots of those get reported in your personal income taxes, so there are likely a lot of business things mixed in. ( I could be wrong on this )
This is how most real estate businesses are set up. The propety holding company is an S-corp LLC and the operating company is the financially complicated entity (because it has a lot of employees, short term debt to pay bills for the NNN leases they operate for the holdco, etc.).
What actually happened is I sold stock and options at a loss about half way down the dip this year. Then bought back at the bottom much more aggressively A month after the sale to avoid making it a wash sale. My play fund went from 50k down to 30 at one point and got as high as 90k last month. Yet I’ll have 5000 less at the end of the year I’ll need to pay tax on.
Grasping at straws. Frankly, I’d be pissed if Trump paid too much on taxes. The goal of any company is to maximize profits. Besides, having a brilliant entrepreneur with more money to create more wealth is a far better use of that cash than giving it to government.
Really just a question of how good the accountants you have are. As long as its legal. And the IRS is very good at finding the illegal stuff.
It's not the Trump Corp. taxes, though. It's his personal taxes. Important distinction.
From what I understood, Trump did a lot of stuff as a sole proprietor with a ton of single member LLCs. Lots of those get reported in your personal income taxes, so there are likely a lot of business things mixed in. ( I could be wrong on this )
This is how most real estate businesses are set up. The propety holding company is an S-corp LLC and the operating company is the financially complicated entity (because it has a lot of employees, short term debt to pay bills for the NNN leases they operate for the holdco, etc.).
I’m going to write off 5k in “losses” this year.
What actually happened is I sold stock and options at a loss about half way down the dip this year. Then bought back at the bottom much more aggressively A month after the sale to avoid making it a wash sale. My play fund went from 50k down to 30 at one point and got as high as 90k last month. Yet I’ll have 5000 less at the end of the year I’ll need to pay tax on.