That doesn't make sense. He makes bank without it and there are all kinds of scrutiny. People were concerned over Hunter taking a position on Burisma. But now, Joe is supposedly getting secret mansions and cash through the Chinese govt hooking his family members up. I think that Trump supporters are so used to the Trump family being corrupt that it's a forgone conclusion that everyone else is, too.

look corporations go through generations of humans, run by a sitting board... its not even the same game

Tax deductible expenses are expenses (usually limited) that try not to penalize you for double-dipping.

Yes you just did... "it just goes toward paying expenses. It's money that is not going to your pocket"

I worked as a professional tax preparer for like 3 years.

@TaLoN132

But if you can put that money back into the business to cover expenses, it lessens the burden of taxes. Honestly, they could pay a ton more and not even feel it.

That has to be the most boring job one could script. Hard pass.

Well there is that...

Likely nothing...

So... https://www.forbes.com/sites/danalexander/2020/10/23/forbes-estimates-china-paid-trump-at-least-54-million-since-he-took-office-via-mysterious-trump-tower-lease/?sh=3c0c46ed11e1

Pretty boring yeah. It's mostly just you calling the government and confirming info.

whole industry that could be done away with if there were an equal or flat tax, wont happen because the corruption of laws is too easy

Exactly, when you own a corp you can take money out 1. As a distribution and 2. As a salary for your service. You pay tax on both of those. If you are just going to use the profits to expand the company then that is not money you are actually taking out and will just go to pay tax deductible expenses.

Which lessens the tax burden.... good lord..

So that's okay and this isn't? Or 100 took the hundred million while Biden was still in that's okay?

theres so many loopholes too like using assets of the corp

@TaLoN132 Forbes? Until you can get Epoch Times to corroborate that, fake news.

@TaLoN132 is Bidensplainin

@Zuluzeit I agree!

What? I need a busillis to English translator.

Just keep in mind, tax deductibles actually make your income taxed at 0%, unless it's changed in America.

anyone with real money has a corp, because they can avoid taxes, thats not even debatable

(For that deductible.)

Trump's favorite magazine... He likes their lists.

And how is Forbes anymore authoritative than the...

What people dont understand is that you too can today make a sole proprietorship selling garbage on Amazon and use the same "loopholes'. They arent loopholes they are tax law.

@leftingfighter33 The tax law needs to change.

Plain and simple

its not the same, llc also is not the same

https://www.washingtonpost.com/news/democracy-post/wp/2017/12/14/chinese-ownership-is-raising-questions-about-the-editorial-independence-of-a-major-u-s-magazine/

There should be deductible limits, in my honest opinion.

Oh lucky lucky Forbes is on partly by the Chinese

All transactions go through CCP

https://tenor.com/view/wow-shocker-childish-gambino-donald-gif-5634946

That's the beauty of a centralized totalitarian regime.

there should be an equal or flat tax, get the dirty .gov out of the whole corrupt system

So, it's likely way more than $5.4m.

How is it nit the same? You can take the same deductions. The only difference between an llc and a sole proprietorship is the separation of the business from you as an individual.

Lots of small businesses run as sole props.

Basically you can't trust any of these so-called new sources all controlled by multinational corporations... We've already had this discussion.

Mr Bill Clinton paved the way for this type of deregulation...