The Released Trump Tax Returns - Part 1
There are a few things that leapt off the page at me as I first skimmed the six years of returns.
First was the fact that Donald Trump apparently is NOT claiming his Social Security benefits. You reach the maximum benefit when you turn 70. I have two clients who did not file to claim their Social Security benefits when they turned 70. Both were contacted at the age of 72 by the Social Security Adminstration and could only recover six months of back benefits.
Donald Trump turned 70 in June of 2016. Why isn't he drawing those benefits?
***
Then I noticed that when they redacted the information on Trump's Form 8938, they also redacted the balances of his foreign bank accounts. Was that an oversight, intentional, or just a mistake?
***
Donald Trump's 2015 return is 539 pages. Just the personal income tax return for Melania and he.
Donald Trump's 2015 return has more than 25 Schedule C's, for 25 separate LLCs. Their combined net profit (gross receipts less returns and allowances; less deductible expenses) are nearly -$600,000. Not exactly a demonstration of business expertise.
His 2015 personal income tax returns show $134,442 in cash contributions to charity. All of which were made by his various businesses. He apparently did not write a single check to charity from his personal funds.
Finally, he paid no ordinary income tax in 2015, 2016, 2017 and 2020. Here is a breakdown:
More to come.
First was the fact that Donald Trump apparently is NOT claiming his Social Security benefits. You reach the maximum benefit when you turn 70. I have two clients who did not file to claim their Social Security benefits when they turned 70. Both were contacted at the age of 72 by the Social Security Adminstration and could only recover six months of back benefits.
Donald Trump turned 70 in June of 2016. Why isn't he drawing those benefits?
***
Then I noticed that when they redacted the information on Trump's Form 8938, they also redacted the balances of his foreign bank accounts. Was that an oversight, intentional, or just a mistake?
***
Donald Trump's 2015 return is 539 pages. Just the personal income tax return for Melania and he.
Donald Trump's 2015 return has more than 25 Schedule C's, for 25 separate LLCs. Their combined net profit (gross receipts less returns and allowances; less deductible expenses) are nearly -$600,000. Not exactly a demonstration of business expertise.
His 2015 personal income tax returns show $134,442 in cash contributions to charity. All of which were made by his various businesses. He apparently did not write a single check to charity from his personal funds.
Finally, he paid no ordinary income tax in 2015, 2016, 2017 and 2020. Here is a breakdown:
More to come.
posted by me at 9:08 PM
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