China, Trump, Secret Account, $15.1M cash withdrawal etc

[Greenman]

That's like saying having an affair isn't a secret if your poker buddies know about it but your wife doesn't.

No, it's nothing like that at all. If the account was listed on a tax statement, a disclosure statement, a cooperate ledger, a loan application, or mentioned in passing, it's private, not a secret.

 

[darkswordsman17]

Yep, precisely. They have no argument so they latch onto one detail to try to discredit the entire story. Rather funny and illogical.

I didn't even see your other post before making my comment. For fuck's sake. Its like they aren't even aware how predictable they are, even though I've literally pointed this out multiple times, and yet they still do it and it still just makes them look even dumber because now it looks like they're in some human centipede oroboros of stupidity with each other.

 

[Jhhnn]

No, it's nothing like that at all. If the account was listed on a tax statement, a disclosure statement, a cooperate ledger, a loan application, or mentioned in passing, it's private, not a secret.

It's secret from the American People, deliberately so. Kee-rist. When questioned about it on TV, Trump claimed the account was closed in 2015 even though evidence indicates that he received the $15M in 2017. What are the chances he's telling the truth? Damned slim if past performance is any indicator.

 

[sportage]

Wow... With all this shit that Trump pulls one can only wonder where it will all end? Well, if Trump is reelected..... it won't.

 

[Grey_Beard]

You are not teaching me anything other than the fact you don't have a clue about anything you are talking about. You don't understand what profit and expense statements mean, and their relevance. And you sure the hell don't understand where EMPLOYER portion of FICA taxes go on profit and loss statements (income vs expense - EMPLOYER FICA taxes sure don't go in the income side). You also don't even know how to read, I never said a deduction has anything to do with cash/revenue. I don't need to go back to business school, as Revenue and Expense are two different terms. yo are trying to imply the because the employer's portion of the FICA taxes are paid for by the revenue generated by the company, it is not an expense. Hello?? EVERY EXPENSE is paid by the revenue generated by the company. Cash flow DOES NOT CHANGE what an expense is. It only determines if the company makes a profit, and/or has the revenue to cover such expenses. If they don't, they go bankrupt. This includes EMPLOYER responsible taxes, be it federal tax, or Their portion of FICA taxes.

revenue is the term used to describe income earned through the provision of a business' primary goods or services, while expense is the term for a cost incurred in the process of producing or offering a primary business operation. FICA taxes (EMPLOYER PORTION is an expense, a tax deductible one) You can sit here and throw around you BS answers all day long, you don't have a clue about what you are talking about. All you are doing is trying to muddy the truth by throwing around Revenue etc.

What you misunderstood in your businesses classes is the fact that the ONLY FICA taxes that are not deemed an expense for the company are the EMPLOYEE portion only. The EMPLOYEE portion of the FICA tax is not an expense for the company. The problem is, you are ignoring the EMPLOYER portion that is an expense. The company is required by law to match what the employee pays in for FICA, the company does not get reimbursed for those taxes. They do get to claim them as a deduction on their Federal taxes, which reduces a portion of there Federal tax liability.

If you don't agree, then by all means, show us how the company gets out of paying THEIR Portion of of the FICA tax. Give us an example, not just your incorrect babble. But I don't know what accountants you deal with do, but Every Accountant I work with, the EMPLOYER - paid FICA tax is appears as an expense to the company, because it is cost to the company.

Dude you even have bad reading comprehension. I am sorry but more words do not make your argument right. You can argue with yourself all you want. Might want to check out what you know and realize that if you need that much verbiage to support your point you are way off the reservation. Let me know how that CPA exam goes for you when you think you know that your saying.

 

[NWRMidnight]

Dude you even have bad reading comprehension. I am sorry but more words do not make your argument right. You can argue with yourself all you want. Might want to check out what you know and realize that if you need that much verbiage to support your point you are way off the reservation. Let me know how that CPA exam goes for you when you think you know that your saying.

I will respond with a short answer, you are an idiot and don't know what you are talking about. As an owner of Two previous business, and gm for 13 years of another, I can tell you straight up, you don't know what you are talking about. Every legitimate CPA will tell you the emoloyer paid FICA tax is an expense.

 

[ivwshane]

I don’t understand what you guys are arguing about. Can’t you just Google it?

This is what I found:

Is FICA deductible?
The employer portion of FICA is a deductible expense for businesses. The amounts withheld from an employee’s wages isn’t deductible. However, the salary or wages from which you withhold FICA taxes is a deductible business expense.

Business can deduct employee salary and the employer portion of FICA on their annual federal tax return.

FICA Tax: Everything You Need to Know | Bench Accounting

Learn the basics of FICA taxes so you know who needs to pay them and how much they are.

bench.co

 

[NWRMidnight]

I don’t understand what you guys are arguing about. Can’t you just Google it?

This is what I found:

FICA Tax: Everything You Need to Know | Bench Accounting

Learn the basics of FICA taxes so you know who needs to pay them and how much they are.

bench.co

I already told him to google, he refused. I already told him what you just linked, but he keeps arguing that it isn't an expense because it's paid for by the revenue the company generates.

 

[Grey_Beard]

I will respond with a short answer, you are an idiot and don't know what you are talking about. As an owner of Two previous business, and gm for 13 years of another, I can tell you straight up, you don't know what you are talking about. Every legitimate CPA will tell you the emoloyer paid FICA tax is an expense.

It’s laugh out loud funny that would think this was nothing more than a rouse. Of course it’s detectable.

 

[UNCjigga]

Add $270 million in forgiven debt. I mean, we already knew that Trump was owned by big banks and hedge funds-- but I guess now we know to what amount he is owned.

(of course the forgiven debt was held by money laundering Deutsche Bank so who knows who his creditors really are...)

New York Times: Tax records show Trump had over $270 million in debt forgiven after failing to repay lenders | CNN Politics

President Donald Trump has had more than $270 million in debt forgiven since 2010 after he failed to repay his lenders for a Chicago skyscraper development, The New York Times reported Tuesday.

www.cnn.com

 

[interchange]

Add $270 million in forgiven debt. I mean, we already knew that Trump was owned by big banks and hedge funds-- but I guess now we know to what amount he is owned.

(of course the forgiven debt was held by money laundering Deutsche Bank so who knows who his creditors really are...)

New York Times: Tax records show Trump had over $270 million in debt forgiven after failing to repay lenders | CNN Politics

President Donald Trump has had more than $270 million in debt forgiven since 2010 after he failed to repay his lenders for a Chicago skyscraper development, The New York Times reported Tuesday.

www.cnn.com

Trump contends he is smart and not bad for exploiting loopholes. Ignoring the conflicts of interest, emoluments violations, gross appearance of criminal activity for a second, exploiting loopholes is ubiquitous in Trump's business records. That is not the kind of business operation we should all value. That means Trump has find ways to make people who actually pay taxes fund his inability to run a profitable business or else making the lending institution responsible for his debt. If that's the way everyone approaches business, the whole system collapses in days.

 

[hal2kilo]

Add $270 million in forgiven debt. I mean, we already knew that Trump was owned by big banks and hedge funds-- but I guess now we know to what amount he is owned.

(of course the forgiven debt was held by money laundering Deutsche Bank so who knows who his creditors really are...)

New York Times: Tax records show Trump had over $270 million in debt forgiven after failing to repay lenders | CNN Politics

President Donald Trump has had more than $270 million in debt forgiven since 2010 after he failed to repay his lenders for a Chicago skyscraper development, The New York Times reported Tuesday.

www.cnn.com

I'm sure the stock holders of these banks are perfectly fine with this.

 

[NWRMidnight]

It’s laugh out loud funny that would think this was nothing more than a rouse. Of course it’s detectable.

You have been proven wrong, and you wouldn't have taken this argument so far if you just googled like it was suggested. So, either you are an idiot, or the rouse was played out by you. Go ahead, keep responding and continue to show other's how much you don't know.

 

[Jhhnn]

I'm sure the stock holders of these banks are perfectly fine with this.

I figure the debt had been securitized & the banks were mostly just fronting for the investors.

 

[Grey_Beard]

You have been proven wrong, and you wouldn't have taken this argument so far if you just googled like it was suggested. So, either you are an idiot, or the rouse was played out by you. Go ahead, keep responding and continue to show other's how much you don't know.

You do like arguing with yourself. Keep going and I am the idiot. Okay. Got it. Nice.

 

[Grey_Beard]

I'm sure the stock holders of these banks are perfectly fine with this.

I figure the debt had been securitized & the banks were mostly just fronting for the investors.

This makes perfect sense. Let this fool go for these large amounts of loans, but take any person who is behind on their credit card payments or mortgage to the mat. This sounds like a PR nightmare. Deutsche Bank and Fortress need to review how much Russian funding they received over that time frame.

 

[NWRMidnight]

You do like arguing with yourself. Keep going and I am the idiot. Okay. Got it. Nice.

What drugs are you on?

 

[Grey_Beard]

What drugs are you on?

Here I thought the subject of this thread was an account owned by a company the President has which was undeclared or secret, not sure there is a difference, and he took over $15 Million from. But hey, I am on drugs. Okay.

 

[NWRMidnight]

Here I thought the subject of this thread was an account owned by a company the President has which was undeclared or secret, not sure there is a difference, and he took over $15 Million from. But hey, I am on drugs. Okay.

Dude, you are one who decided to jump in and add your two cents about contractors, revenue, and arguing that FICA isn't a business expense because it's paid for by the revenue generated by the company. Adding irrelevant babble and being wrong along with the original person. But hey, I may have confused who said what, since you both are trying to act smart, and failed. So lay off the drugs or stop trolling!