Friday, December 30, 2022

Tax audits

Trump's tax returns were released and all was quiet so that got my attention. There are a few things that stand out. First his income varies greatly from year to year which is common for people in the real estate business since they buy and sell to move profits from one year to another. Second he gave a lot of money to charity and third he is not collecting social security. Nothing criminal was immediately obvious but these returns will be gone over with a fine tooth comb over the next few weeks. It is not likely to reveal much because the IRS closely watches his filings and the five years before he was president they audited his taxes every year. Reports in the news show that during Trumps tenure as president he lost somewhere between $700 million and one billion dollars.

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