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Started By
Message
re: BOMBSHELL by the NYT has dropped
Posted on 10/31/20 at 11:47 am to Rocco Lampone
Posted on 10/31/20 at 11:47 am to Rocco Lampone
quote:
I bet
0
Posted on 10/31/20 at 11:47 am to NashvilleTider
No way?
They are bagging on him for depreciation? Lmao.
Should have worked to change the Code sleepy Joe. You had 47 years but nada.
Sucks to suck big guy.
They are bagging on him for depreciation? Lmao.
Should have worked to change the Code sleepy Joe. You had 47 years but nada.
Sucks to suck big guy.
Posted on 10/31/20 at 11:47 am to NashvilleTider
So he legally depreciated a real estate asset? That’s something every single person who invests in real estate does. It’s literally built into the system to enable growth.
Posted on 10/31/20 at 11:48 am to Hangit
It’s a very sophisticated algorithm that has no bias. So I’m sure he can just sit back and let the code to the heavy lifting in this one
Posted on 10/31/20 at 11:48 am to NashvilleTider
"So-called depreciation losses"
EVERY frickING BUSINESS DEPRECIATES ASSETS
EVERY frickING BUSINESS DEPRECIATES ASSETS
This post was edited on 10/31/20 at 11:49 am
Posted on 10/31/20 at 11:49 am to NashvilleTider
I knew it would be something like this. If there was a bombshell it would have dropped after the comey letter in 2016 or during impeachment.
Posted on 10/31/20 at 11:52 am to ChexMix
This is probably a good time to tell y'all that in the Biden tax plan they want to take away depreciation on capex so they can tax assets at their full value up front
Posted on 10/31/20 at 11:53 am to Adam Banks
As soon as the left initiated their early mail in voting scheme, I figured that was a concession that there would be no juicy October surprise.
Posted on 10/31/20 at 11:53 am to NashvilleTider
I said if it was a tax thing they shouldn't even bother running with it...
BREAKING NEWS: President Trump used LEGAL means to reduce his tax burden! Story at 11.
BREAKING NEWS: President Trump used LEGAL means to reduce his tax burden! Story at 11.
Posted on 10/31/20 at 11:54 am to NashvilleTider
Oh for frick's sake.
President Trump followed the tax law.
President Trump followed the tax law.
Posted on 10/31/20 at 11:54 am to NashvilleTider
I was hoping he got a refund.
Posted on 10/31/20 at 11:56 am to ChexMix
quote:
Um, what? Depreciation helps EVERY BUSINESS
It’s not even that it “helps” businesses, Depreciation is simply a way to expense asset purchases over time. It’s not like people cry about deducting payroll, why is depreciation any worse?
The basic principle of business income tax law is that you only get taxed on cash income over cash spend. If this weren’t the case than you could get taxed and actually lose money just by virtue of being in business.
It’s so clear that these crybabies don’t even understand this very basic principle, they are calling attention to it. Yet they not only want to make it sound like Trump is somehow doing something wrong, they also want to dictate economic policy as if they have the slightest clue about economics or basic accounting for that matter.
Why don’t they just trust the experts, shut the frick up and go back to their W2 jobs and celebrate their tax refunds because they have no idea how to calculate their own simple tax situation
Posted on 10/31/20 at 11:56 am to midnight_chopper
quote:
It’s a very sophisticated algorithm that has no bias.
I believe you. And now we all know the algorithm does not work weekends.
Posted on 10/31/20 at 11:57 am to NashvilleTider
As an accountant that's just fricking hilarious. This will not make a difference lmao
Posted on 10/31/20 at 11:58 am to NashvilleTider
I this really it?
Posted on 10/31/20 at 11:59 am to LNCHBOX
They have to be joking, taxes? Legal stuff....
This post was edited on 10/31/20 at 12:00 pm
Posted on 10/31/20 at 11:59 am to NashvilleTider
quote:
so-called depreciation losses
So called?? It’s not “so called”. It’s a valid expense that’s taken by practically everyone with a business. Depreciation IS a loss. There are even FOUR commonly used ones in the tax code.
Posted on 10/31/20 at 11:59 am to NashvilleTider
quote:
"President Trump’s tax records ILLEGALLY obtained by The New York Times...
I hope Trump sues the Hell out of these people.
Posted on 10/31/20 at 12:00 pm to NashvilleTider
You mean the same kind of straight line depreciation that the New York Times uses. If they, they are stupid - I know - redundant.
Posted on 10/31/20 at 12:00 pm to NashvilleTider
Does this violate hacked information rules at Twitter?
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