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/biz/ - Business & Finance

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23692823 No.23692823 [Reply] [Original] [archived.moe]

>made $151,381.77 so far this year
>paid $39,739.64 in taxes

How does Trump get away with paying only $700 in taxes?

>> No.23692845

Great point. Vote Biden so you can pay more taxes next time.

>> No.23692846

Because his business lost $400m the year before hand you retarded wagecuck

>> No.23692871

Imagine if you had made $10,000,000,000 in crypto gains, but then lost like $9,000,000,000 of it. You'd expect a bit of a tax write-off, right? A little forgiveness so you can keep your last billion? That's why Trump pays less than you.

>> No.23692887

I'm black and I unironically voted for Trump and Perdue. I don't wanna get buttfucked by higher taxes.

>> No.23692910

$3000 per year faggot.

>> No.23692922

Be sure to keep making this thread when it inevitably is bumped off the catalog again, faggot.

>> No.23692934

And the excess carries forward to the next year.

>> No.23692941

I'll make it every Thursday after I get my paycheck so you can seethe harder, faggot.

>> No.23693173

Army of accountants

>> No.23693177

that article was fucking bull shit. he paid 7,000 upfront and filed for a late payment

>> No.23693210
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In case there is anyone who doesn't understand how this works, I will explain. Businesses don't pay taxes when they lose money. If they lose money one year, they can use that loss to offset profits from another year. Here is an example:
>Year 1, Lose $1M
>Year 2, Lose $1M
>Year 3, Make $1M, pay no tax
>This makes sense. You are still down $1M.
>At this point, if you are an enemy of the media, they will run a story about how you don't pay taxes.
>They will do this DESPITE KNOWING FULL WELL how this all works.
>Amazon doesn't pay taxes.
>Trump doesn't pay taxes.
>Now OP is mad, because he doesn't understand, so he votes for the media's favored candidate.
>Yellow journalism: mission accomplished

>> No.23693253

He prepays based on previous years' taxes

>> No.23693279

Based I did the same anon

>> No.23693285

I would assume it comes down to the fact he pays himself a small salary and most of the taxes "he" pays are actually taxes paid by his many businesses, as it would be retarded for the 300 million or whatever the Trump Foundation makes each year to go directly into his pocket. People not understanding that corporations work differently than personal income taxes is upsetting to me.

This is just capital loss/gains.

>> No.23693317

Only way your not going to pay 33% tax is if we go through a revolution and i hate to tell you but pretty much all of that cash is going to useless spics and hood niggers. Gotta sort out your people but its probably 2 late 2 dependent on gib me dats at this point.

>> No.23693326
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>> No.23693333

>This is just capital loss/gains.
No it isn't. It does apply to capital gains as well, although they have different carryback/carryforward provisions.

>> No.23693339

Hes broke

>> No.23693369

>Made $180k in 2019
>Paid about $2800 in federal income tax this year

Be married, have kids, own a pass through entity, max out every tax advantaged thing you can.

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