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Legend
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RE: [NEWS] Supreme Court rules Trump must surrender tax documents to New York prosecutor.
(02-22-2021 02:48 PM)banker Wrote: (02-22-2021 12:56 PM)TIGERCITY Wrote: More information from the New York Times concerning the importance of obtaining Trump's tax documents from 2011 to 2018. In addition to hush money payments there may be evidence that the Trump organization paid "consulting fees" to Ivanka Trump amounting to millions of dollars. In addition there may be evidence that Trump inflated the value of his properties in order to obtain loans on those properties while, at the same time, deflating the value of those same properties for the purposes of reducing property taxes.
https://www.nytimes.com/2021/02/22/nyreg...e=Homepage
That whole paragraph is the rambling of a person who has absolutely no clue what they are even talking about. I don’t know what you do for a living, but since 1991 I have financed commercial real estate projects and before that I was a certified general (commercial) appraiser.
The only thing a tax return is used for when underwriting real estate is a cursory check against the important info provided - leases, operating statements, organizational docs, maintenance contracts, etc. There is no statement of value on a tax return to either inflate or deflate. You have a summary operating statement in a tax return and little else.
You also don’t understand how property taxes work. You generally don’t provide anything to the assessor. They independently value the property and send you a tax bill. If it’s too high, you try and get it lowered, and they argue their justification, a judge decides.
What’s illegal about paying anyone anything? As long as she reports the income and pays taxes how’s that relevant to anything. Also, can you point me to the form you fill out for “hush money payments”? How would that ever be identified on a return?
I'm a CPA and have had a bunch of real estate clients. When you read these NYT articles its like reading a bunch of idiots. Do they still live in their parent's basement and don't make enough to file tax returns?
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02-22-2021 02:53 PM |
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