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Jesse Powell
@jespow
TIL people have no idea how taxes work. Stories that paint completely legal deductions and avoidance strategies as being improper only hurt the pub's credibility and embolden the "fake news" narrative. Massive, real debt would be a reason for concern but not legit deductions.
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The New York Times
@nytimes
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Exclusive: The Times has obtained tax-return data for President Trump extending over more than two decades. It shows his finances under stress, beset by losses that he aggressively employs to avoid paying taxes and hundreds of millions in debt coming due. nyti.ms/308oHAj
3:25 AM · Sep 28, 2020Twitter Web App
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Jesse Powell
@jespow
Replying to
@jespow
Also, of course paying your business consultant is a deductible expense. It doesn't matter if the consultant is a family relative. Your expense is their income. The taxable income just moves from one entity to another. Fake outrage from people who know better isn't helping anyone
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飞龙🐉
@thaddeusbatt
Replying to
@jespow
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@CaitlinLong_
Lol. pERfEcTLy LEgaL. 🧐Wrote off consulting fees to his daughter while she was employed by his company 🧐 Claimed a family retreat as a non-residential 'investment property.' 🧐 High-balled properties for loans & Low-balled for taxes.
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