The implication is that is what he is doing, expressly to avoid paying tax on it as "income".
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I think that's the problem. The "implication." People are free to imply but news articles should clearly state and have evidence
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Hard to get the evidence when the tax returns are being kept from the public.
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Regardless, news articles aren't allowed 2 randomly theorize imply criminal/improper acts w/out evidence (at least I was taught).
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Pls give me your summary, what's the wrongdoing in short?
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#1 would be that he funded the foundation with his income but hasn't clarified if he paid federal taxes on all of that $.
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Do you have to pay taxes if somebody makes a contribution to charity in lieu of compensation? I didn't realize that..Years
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I'm no accountant, but accd. to WaPo: "In cases where he diverted his own income to his foundation, tax experts said... -->
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When there is a forgiveness of debt, the IRS considers the amount forgiven as income to the person whose debt was forgiven.
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Forgive me you lost me
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Trump Foundation keeps paying the bills for his private business, isn't that already established?
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I'm asking about article that said he was to be paid $400k for appearance but didn't take it--he directed to charity.
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And did you see his money laundering scheme thru charity for his illegal business in Cuba?
#TrumpinCuba ?
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Ask Bill Clinton where checks for his speeches go.
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Owe 10k, negotiate balance down to 7k. Pay the 7k. Balance is zero but the IRS considers the 3k as income.
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My point is that if it's a forgiveness of debt I don't see tax advantage by donating the money to charity. I'm no tax atty
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