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an example?

Posted on: December 30, 2022 at 15:56:05 CT
Spanky KU
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M.O.B. Votes:
5
1) Company started and incurred expenses prior to 'opening for business'...

take a real estate development company for example (since that's the business Trump is in.

Year 1 of business:
1) Form an LLC for that development project
2) Hire staff, get office space, purchase land to develop, pay permitting fees, etc
3) No income in that year as the project has not completed (or even broken ground yet)

Year 2 of business
1) Continue to hire and pay staff,
2) pay taxes on land that was procured for the project
3) STILL no income as the project has not completed or reached the point of recognizing revenue
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So what laws did Trump break according - Sal CMSU - 12/30 14:24:16
     This is typical Dem party MSM mob rule tax law.... - JayRoy KC - 12/31 07:07:14
     Trump organization just got convicted for criminal tax fraud - JG MU - 12/30 17:19:19
          I'd be SHOCKED to hear what crimes the Clinton Foundation - OntheMark MU - 12/30 21:22:36
               Huber checked into that - JayHoaxH8r MU - 12/31 09:29:02
               No crimes there son - had there been, GOP would've inquired(nm) - raskolnikov MU - 12/31 08:12:14
          I'm sure it was all weiselberg - JayHoaxH8r MU - 12/30 17:47:01
               What crime does the tax returns show? (nm) - Sal CMSU - 12/30 17:48:06
          zero doubt? have you reviewed the records? - Th8tnTiger MU - 12/30 17:24:44
               have you EVER heard of Anything - JG MU - 12/30 19:05:44
          Has the committee even said there is evidence - Sal CMSU - 12/30 17:21:37
               Nope. They said that they would have taken a deeper look - tman MU - 12/30 17:54:12
                    The TB CPA’s figured it out though - Sal CMSU - 12/30 17:55:24
     none. releasing them was nothing more than punishment - Th8tnTiger MU - 12/30 17:05:52
          GOP should release joeys - JayHoaxH8r MU - 12/30 17:08:28
               Yeah I don't care about his either - Th8tnTiger MU - 12/30 17:12:35
                    well because joey released his - JayHoaxH8r MU - 12/30 17:14:44
                         And he failed to disclose income(nm) - tman MU - 12/30 17:55:35
                         lol this has to be an act (nm) - Sal CMSU - 12/30 17:17:58
                         damn man(nm) - Th8tnTiger MU - 12/30 17:17:31
                              RE: damn man(nm) - JayHoaxH8r MU - 12/30 17:29:20
                                   so the difference is biden voluntarily released his - Th8tnTiger MU - 12/30 17:30:40
                                        Kinda - JayHoaxH8r MU - 12/30 17:31:59
                                             Kinda how? Now is your chance to shine(nm) - Th8tnTiger MU - 12/30 17:35:56
                                                  GOP mad because their only way to retaliate - JayHoaxH8r MU - 12/30 17:37:24
                                                       It’s nobody’s business (nm) - Sal CMSU - 12/30 17:40:23
                                                            RE: It’s nobody’s business (nm) - JayHoaxH8r MU - 12/30 17:42:54
                                                                 I hope they release personal information of every - Sal CMSU - 12/30 17:44:20
                                                                      reeeeeeeeeeeeeeeeeeeee - JayHoaxH8r MU - 12/30 17:45:01
                                                                           A $100k payment to the CCP from the POTUS’s son - Sal CMSU - 12/30 17:47:20
                                                                                Honestly you're the board's largest dumbas - JayHoaxH8r MU - 12/30 17:49:57
                                                                                     You make Rask look intelligent(nm) - tman MU - 12/30 17:58:25
                                                                                     Lol you can’t even point to any wrongdoings in the tax - Sal CMSU - 12/30 17:52:08
                                   RE: damn man(nm) - Sal CMSU - 12/30 17:30:37
               It’s not just about politicians - Sal CMSU - 12/30 17:10:00
                    My bet? Musk next nm - pinkman MU - 12/30 17:28:42
                         Not with the GOP house (nm) - Sal CMSU - 12/30 17:29:29
          Correct and it’s time for the GOP to grow some balls - Sal CMSU - 12/30 17:08:16
     Exposing them now lets prosecutors get a high level look - Fred G. Sanford USA - 12/30 15:51:27
     I won’t pretend to know the ins and outs of tax law - Lovely Rita STL - 12/30 15:37:07
          lol(nm) - Th8tnTiger MU - 12/30 17:06:07
          I doubt he does his own income taxes... probably has tax - JeffB MU - 12/30 16:55:50
               if you sign it don't you own it? - JayHoaxH8r MU - 12/30 16:59:01
                    That would be a yes(nm) - miz_zou MU - 12/30 17:01:13
                         These guys don't want to hold their godking - JayHoaxH8r MU - 12/30 17:04:44
                              Accountable for what Mr. CPA? (nm) - Sal CMSU - 12/30 17:08:56
          an example? - Spanky KU - 12/30 15:56:05
               Startup costs are reported the year a buiness opens without - miz_zou MU - 12/30 16:55:30
                    When does a real estate development company open? - Spanky KU - 12/30 17:16:41
                         The topic is Schedule C. Schedule C is for two types of - miz_zou MU - 12/30 17:54:19
                              Project companies are typically LLC’s - Spanky KU - 12/30 20:35:01
                                   Developers purposely plan profits to be taxed as capital - miz_zou MU - 12/30 20:57:16
                                        What does the LLC use to document the losses or income? - Spanky KU - 12/30 21:22:33
                                             Capital gain/loss goes on Form 8949 and Schedule D. That’s - miz_zou MU - 12/30 22:36:34
                                                  There is no Capital gain/loss until property is sold - Spanky KU - 12/31 17:06:55
               JFC I don’t know if there is a problem or not. - Lovely Rita STL - 12/30 16:44:00
                    The returns didn’t need to be released - Sal CMSU - 12/30 17:06:31
          Let's say you own a building that has no income... - Lerxst MU - 12/30 15:48:38
               Let’s all make up a scenario that we like. I DON’T know - Lovely Rita STL - 12/30 16:46:18
               He rightly said he doesn't know tax law - 4TigersinMichigan MU - 12/30 15:49:38
                    Welcome to DC(nm) - meatiger MU - 12/30 15:56:53
     I’ve still not seen why, as an investigation of the IRS - Bulldog Bob Brown STL - 12/30 15:30:03
          You aren’t the only one wondering that (nm) - Sal CMSU - 12/30 15:50:58
     The left will be outraged he didn't pay very much in taxes - 4TigersinMichigan MU - 12/30 15:28:22
     It’s all good - just wanted to make sure he got the biz - Lovely Rita STL - 12/30 15:05:16
          So the report draws a conclusion that - tman MU - 12/30 15:08:46
               When they really tried they got Capone.(nm) - Toger STL - 12/30 15:14:55
                    Yes. Facts were a bit different then what - tman MU - 12/30 15:16:20
     GOP Warns Of Retaliation; On Final Day Of Power, House Dems - JeffB MU - 12/30 14:48:55
          Ahh yes, The Golden Rule.(nm) - Toger STL - 12/30 14:54:16
               Dems always best Reps in pi**ing contests - pinkman MU - 12/30 21:58:02
     Weren't they supposed to prove Putin owns Trump? - MIZ45 MU - 12/30 14:37:20
     Accountability(nm) - Toger STL - 12/30 14:31:52
          which law specifically, is "accountability"?(nm) - Fire Marshall Bill MU - 12/30 14:54:26
               https://www.irs.com/en(nm) - Toger STL - 12/30 14:58:00
                    IRS has had plenty of time to audit and re-audit and - TrumpToRushmore MU - 12/30 15:16:39
                         Yep - 4TigersinMichigan MU - 12/30 15:50:29




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