Supreme court rejects Trump bid to block tax records from prosecutor
Shades of Al Capone ?
As a businessman who owns a lot of Real Estate, allow me to suggest that nobody in their right mind wants people who hate you to go through your very sophisticated tax returns with a fine tooth comb.
Overall, when you own as many properties and are in as many deals as Trump is , you are always put in a situation where you are pushing the envelope based on what your high paid accountants and tax lawyers tell you what you can and cannot do.
Much of this stuff is grey area stuff and it often depends on who is your auditor at the IRS and whether he or she agrees that what you did was reasonable.
If they don’t agree, which can happen and you can’t convince them, there is often a negotiation and a fair settlement, nobody is going to jail for interpreting the tax laws differently or using them to the Nth degree.
I can pretty much guarantee that Trump didn’t NOT report income or Decorated his house and wrote it off against income, smart rich guys don’t do that and he was there when Leona Helmsley went to jail for doing exactly that.
Trump knows the Leftists will try to kill him on every grey area issue and could take large amounts of money from him probably unfairly that they wouldn’t from anyone else due to their disgusting hatred. the Left weaponized the IRS under Obama , they have no sense of decency or fair play, just their agenda which supersedes all else because after all they are in the right and everyone else is wrong.
if I were Trump I wouldn’t want enemies going through my very complicated tax returns that 5-7 years later are hard to explain and half the time you don’t even remember why this was written off and that wasn’t because you are in 100 different deals and don’t remember the circumstances .
We are talking about things like Cost Segregation, accelerated depreciation , fees and licensing structures, etc. etc. that are always set up to mitigate upfront tax expenses , which without them, very little would ever get done.