Subj : Re: Property Value To : Aaron Thomas From : IB Joe Date : Thu Sep 28 2023 06:42:00 On 27 Sep 2023, Aaron Thomas said the following... AT> IJ> These are not accounting errors.... Lat time they wanted to take him AT> IJ> down it was that his evaluations were too high for tax reason... AT> IJ> depreciation for tax purposes work better if if the properties values AT> IJ> were higher... they found out they were lower and Trump may not have AT> IJ> gotten the tax breaks he deserved. AT> AT> If it's true, then I guess he can pay up now. But at least Trump's crimes AT> occurred while he was off the clock, unlike Biden. AT> It might have been the way I was explaining things... I am not a lawyer so I don't know about this law or that.... I do know some things about taxes... not an accountant... I was a financial advisor for 25 years and I did some of my clients taxes.... Here we go... A while back when Trump's taxes were not public some prosecutor in NY was saying that Trump undervalued his properties to game the system on his tax returns... As soon as I heard this I knew this was not so... I knew this to be so based on what they said... I'll explain in a second.... I was shocked because I thought a prosecutor would have explored the reality of what he just said... and the person reporting the news never even questioned it... Here's the reality of what was said.... When you own property that you rent out as a source of income you can depreciate the property... Sometimes it depends on the kind of asset you want to depreciate... the percentage can very... LETS JUST SAY... 10%... So if you own a property and it's worth $100,000.00, rental property, you could depreciate you property $10,000.00... The prosecutor at the time was saying Trump intensionally lowered the property values to game the system.... So, in the above example Trump says his property value is $50,000.00 .... So... 10% of $50,000.00 is $5,000.00... For those who have a hard time with math... $10,000.00 is more than $5,000.00. It would not be in Trumps advantage to say his properties were valued less... for tax purposes. Once Nancy Peloci released Trumps taxes they stopped talking about it... What is normally done with your tax returns if the IRS has an issue... They audit your return... They'll notify you of that audit and ask for payment if you owe any money.... What you can do... Is explain your position.. show receipts... whatever... there maybe a back and forth... but you may or may not end up owing money... Please note... No prosecutor in NY will contact you.. You'll get a reassessment and have an opportunity to defend your position. There is no need to have 87,000 armed agents working for the IRS when they've been using letters just fine for the last 100 years. Now that indictments and OMG mugshots have not been working they are back to the Tax thing... Now they are saying the opposite... Trump has over valued his properties to get loans that he shouldn't have got... And here's the problem with this... There are no victims... No banks are saying Trump defaulted on a fraudulent loan... He's paid back his loans and apparently what he owes on the properties he has is low.... Debt to Equity ratio... There you go... back to Taxes and whatnot because the indictments aren't working. AT> AT> IJ> I think Biden is being thrown under the Bus... He's at the end ... AT> IJ> everyday there is bad news... He'll either have to step down or he'll AT> IJ> impeached. AT> AT> It sounds like a bunch of bad news, but I still can't find a single AT> leftist who has changed their mind about him. AT> The elitist do not want to give up the power they have... Joe was a useful idiot... IB Joe, Pronouns (FJB/LGB) AKA Joe Schweier SysOp of 4A 6F 65 73 42 42 53 -=JoesBBS.com=- .... Tech support is just a busy signal away --- Mystic BBS v1.12 A49 2023/04/30 (Windows/64) * Origin: JoesBBS.Com, Telnet:23 SSH:22 HTTP:80 (1:342/200) .