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and the good news: "New York expands Trump tax fraud investigations to include writeoffs"
Posted by: Steve G.
Date: November 19, 2020 11:19PM
The family that does crime together does time together.Put these people into prison.

New York expands Trump tax fraud investigations to include writeoffs
[thehill.com]

Two separate New York state investigations into allegations of fraud by President Trump and his businesses are now reportedly looking into tax write-offs on millions of dollars in consulting fees, some of which appear to have gone to the president’s daughter and senior adviser, Ivanka Trump, according to people familiar with the matter who spoke to The New York Times.

The Times reported that a criminal investigation by Manhattan District Attorney Cyrus Vance (D) and a civil probe by the state Attorney General Letitia James (D), which are being conducted independently, have both apparently issued subpoenas to the Trump Organization in recent weeks for records in connection to the write-offs.

This comes after a Times investigation published in September based on more than two decades of Trump’s tax records found that he had deducted approximately $26 million in fees to unidentified consultants on several projects between 2010 and 2018.

The Times found that some of the fees appeared to have been paid to Ivanka Trump. Citing a 2017 disclosure, the Times reported that the presidential adviser included payments from a consulting company she co-owned, totaling $747,622, exactly equaling consulting fees claimed as tax deductions by the Trump Organization for hotel projects in Hawaii and Vancouver, British Columbia.

A source with knowledge of the matter told the Times that the subpoenas were focused on fees paid to the firm on her disclosures, TTT Consulting LLC, and accounted for a portion of the $26 million.

According to the Times, the name of the firm apparently refers to Ivanka Trump and other members of her family.

With Ivanka Trump serving as an executive officer of the Trump companies that made the payments, she appears to have been simultaneously treated as a consultant.
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Re: and the good news: "New York expands Trump tax fraud investigations to include writeoffs"
Posted by: sekker
Date: November 20, 2020 12:10PM
I have this feeling that if the Trump Inc lawyers did this properly, it's a private company - they have wide latitude to 'pay' 'employees' and 'consultants' a lot, so long as it's approved by the compensation review process (which is often a rubber stamp).

Sleazy, sure. But the normal way this is policed in our society are oversight mechanisms like banks, etc., who would look at the books and demand better use of money they loan to.

But you know the Trump Family has been avoiding those rules for decades.
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Re: and the good news: "New York expands Trump tax fraud investigations to include writeoffs"
Posted by: hal
Date: November 20, 2020 03:09PM
Trump was taking write-offs on losses. Some of those write-offs were consultancy fees to Ivanka. six figure consultant fees... that ain't legal.
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