Blackrose Accountants found out that The New York Times published its report Sunday on President Donald Trump’s taxes from more than two decades. The New York Times report said. “his tax records show he appears to be responsible for loans totalling $421 million, most of which is coming due within four years.”
“In the 1990s, Mr. Trump nearly ruined himself by personally guaranteeing hundreds of millions of dollars in loans, and he has since said that he regretted doing so,”
Trump’s tax returns also showed most of his major business ventures typically operating at a loss, contradicting the image of success Trump touted during his 2016 presidential campaign. Among the losses: $315 million on his golf courses since 2000 and $55 million the Trump International Hotel in Washington D.C.
There are a number of issues with this interpretation of his financial records.
1) When a company takes out a loan to purchase a property in order to protect the investors from the owner doing something shady/stupid with the property, they often require the owner to personally guarantee the loan. So that fact he has $421M of personal guarantees means he must have assets worth more than that.
2) I do not know the extent of his business portfolio but in accounting, you have revenue, net profit, taxable profit and free cashflow. The first three are a fictional number created by accounts the last one is real. So what does it mean that his golf courses have lost $315M in 20 years, NOTHING!. What you need to know is what was it free cashflow over that same period?
3) They have not said the total the of debt of Trump’s businesses or the realisable market value of his assets or his % share of those businesses. This is the way to calculate the net wealth of a businessman.
4) The fact that he has avoided paying taxes on his property business is not uncommon. Property development is capital intense with a lot of upfront costs. We don’t know what tax avoidance strategy he is using in the US, but if you develop a building costing $300m and amortise it over 20 years, then add in expenses such as maintenance and overheads, it is possibly that building could show a tax loss for a number of years while the business is generating net cash flow for the owners.
However Blackrose Accountants believes that just reporting a personal guarantees and taxable losses as a reflection of wealth can be construed as fake news!
Blackrose Accountants are specialises in providing bookkeeping, accountancy, taxation, payroll services and business development and advisory services The areas we cover include
- Wembley
- Brent
- Willesden
- Harrow
- Kingsbury
- Kenton
- Pinner
For a free consultation contact us at
Blackrose Accountants – Wembley, Harrow, Kenton
- Croydon
- Thornton Heath
- South Norwood
- Crystal Palace
- Selhurst Park.
- Beckenham
- Streatham
For a free consultation contact us at
Blackrose Accountants – Croydon, South Norwood, Thornton Heath
Everyone loves it when individuals come together and share opinions. Great site, continue the good work. Shari Gothart Katlin
As soon as I observed this site I went on reddit to share some of the love with them. Corinna Thatcher Reena
Amazing! Its really awesome article, I have got much clear idea about from this article. Ediva Mitch Cochran
No matter if some one searches for his vital thing, so he/she needs to be available that in detail, therefore that thing is maintained over here. Annalise Kermit Cleaves
Every once in a even though we pick out blogs that we study. Listed below are the most recent sites that we select. Kimmy Darnall Bergin
Dead indited content , appreciate it for information . Stacie Duff Athena
I have been reading out a few of your posts and i can claim pretty clever stuff. I will definitely bookmark your blog. Pearle Hailey Maidie
Really informative article. Really thank you! Really Great. Jenilee Marty Avigdor
I believe you have remarked on some very interesting points , thankyou for the post. Darell Gabe Winnie
Great post! We will be linking to this great content on our site. Keep up the good writing. Johnath Hank Drice
I am regular visitor, how are you everybody? This post posted at this web page is in fact fastidious. Nanine Sanderson Custer
Major thanks for the article. Really looking forward to read more. Really Great. Lexis Jaymie Eliathas
I value the article. Really looking forward to read more. Great. Naomi Hollis Willmert
I got what you intend,saved to my bookmarks, very nice web site. Liv Nester Sutphin
Remarkable! Its actually awesome article, I have got much clear idea about from this piece of writing. Rona Angus Lindholm
I will recommend your beautiful post site to my friends Harli Dorey Karlik
I believe you have remarked some very interesting points, thank you for the post. Stacy Brucie Lindeberg
This is very interesting, You are a very skilled blogger. I have joined your feed and look forward to seeking more of your fantastic post. Also, I have shared your site in my social networks! Celene Hubert Laidlaw
Good write-up. I absolutely appreciate this website. Keep writing! Kristan Everett Telford
This post will help the internet viewers for building up new weblog or even a weblog from start to end. Horatia Tyrus Kyrstin
After I initially left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and now whenever a comment is added I get four emails with the same comment. Is there an easy method you can remove me from that service? Cheers! Catherin Chadd Holofernes
I love what you guys tend to be up too. This kind of clever work and reporting! Jacquenette Erek Maltzman
Wow! Thank you! I permanently wanted to write on my site something like that. Can I implement a portion of your post to my blog? Linnell Forest Noma
After examine just a few of the weblog posts in your web site now, and I really like your manner of blogging. I bookmarked it to my bookmark website listing and shall be checking back soon. Pls check out my web page as well and let me know what you think. Elinore Zeke Thursby
very few internet websites that happen to be detailed below, from our point of view are undoubtedly effectively worth checking out Florencia Rice Tiebold
These are truly fantastic ideas in regarding blogging. Duncan Lippeatt
When all of the lambs have been born, which should be by the end of April. Kip Kappel
Well I definitely liked reading it. This tip offered by you is very practical for correct planning. Kirby Thy
I think you have mentioned some very interesting details, regards for the post. Alphonso Haydu
Very good post. Really looking forward to read more. Fantastic. Rudy Blasz
Greetings, tidy website you possess at this time there. Waylon Sedlack
Thanks, I ave been searching for details about this subject for ages and yours is the best I ave found so far. Jere Zavadoski
I cannot thank you enough for the article. Really looking forward to read more. Want more. Basil Rhyme
Very informative blog post. Really looking forward to read more. Keep writing. Eugene Archbell
Great article! We are linking to this great article on our site. Gaston Froiland
Thank you., iam always excited to see your posts.. Merrill Vandewalker
Well I sincerely enjoyed reading it. This tip offered by you is very practical for good planning. John Tapley
Yes! Finally someone writes about Toronto water damage. Carlos Misener
Excellent article! We will be linking to this particularly great post on our website. Keep up the great writing. Mauricio Harns
Wonderful web page you have in this article, i do agree on some matters even though, but not all. Carson Tichacek
I truly appreciate this article post. Thanks Again. Really Cool. Stephen Byus
The data talked about within the report are some of the top obtainable. Nigel Bridenbaugh
I am sure this article has touched all the internet visitors, its really really pleasant post on building up new web site. Wilson Poucher
There is certainly a lot to learn about this topic. I like all of the points you have made. Collin Terrasi
Surprisingly significant specifics you’ll have said, say thanks a lot for adding. Jerry Tieman
These are in fact enormous ideas in regarding blogging. Kris Keeble
I really like looking through a post that can make people think. Also, thanks for allowing for me to comment. Theron Flygare
Great article. I am facing a few of these issues as well.. Basil Glasgow
Very good article! We will be linking to this great article on our website. Keep up the good writing. Rickie Critchlow
This post is truly a fastidious one it assists new web visitors, who are wishing for blogging. Patrick Buddie
Usually posts some very interesting stuff like this. If you are new to this site. Patrick Buddie
Hi there, I want to subscribe for this blog to obtain newest updates, therefore where can i do it please help out. Ron Villeda
Thanks for all your efforts that you have put in this. very interesting information. Zachary Fleck
Everything is very open with a really clear explanation of the issues. It was truly informative. Your site is very helpful. Many thanks for sharing. Brad Flierl
Thanks for sharing, this is a fantastic post. Keep writing. Michel Manske
Thankfulness to my father who stated to me regarding this website, this web site is genuinely awesome. Roman Jevnikar
I am lucky that I discovered this website , precisely the right info that I was searching for! . Marcus Rinks
Responding to comments also encourages commenting. Justin Sigmond