LaxPower Back-Up Stick

Typical Lax Dad wrote: ↑Mon Nov 06, 2023 10:47 pm

old salt wrote: ↑Mon Nov 06, 2023 9:56 pm

Typical Lax Dad wrote: ↑Mon Nov 06, 2023 8:50 pm

old salt wrote: ↑Fri Nov 03, 2023 1:31 am

Typical Lax Dad wrote: ↑Thu Nov 02, 2023 11:22 pm https://www.cbsnews.com/amp/news/tax-ir ... 8-billion/

It's OK, look at all the other cheaters. Good example there "dad".

https://www.instagram.com/p/CzRD12IAcc- ... M1YmI2Ng==

great example

https://finance.yahoo.com/news/decades- ... 23894.html
This is not Tucker’s first rodeo with the federal agency. In 2014, he agreed to pay the IRS $14 million after a lien was placed on one of his properties due to what his team said was the result of “poor accounting and business management.”

In 2010, the IRS and Tucker began negotiations that continued in 2011 and 2016 that would have him entering into an installment payment plan. The scheduled payments were to be between $25,000 and $50,000 over the course of 10 years.

Ultimately, the deal fell through when it was determined that the Atlanta-GA, native could not pay the debt off within a decade. Per the court documents, Tucker chose not to make payments despite having “sufficient equity and cash to pay the taxes fully.”

Over the past years, the IRS has reportedly urged Tucker to liquidate his assets to pay off the taxes. However, the suggestion was turned down.

Instead, in 2015, the 52-year-old actor and the U.S. agency agreed on monthly payments of $38,000 that he paid consistently before defaulting in 2019, according to MSN.

Success In Hollywood
In early 2023, Tucker, who has achieved huge success within Hollywood, especially for the “Rush Hour” trilogy of films, explained why he walked away from the industry despite earning top dollar as an actor at the time.

“The way I kind of stepped back from Hollywood, at one point being the highest paid actor in Hollywood, I felt like you know it was a ceiling right there,” Tucker said in an interview with Classix 102.9 ATL, per Atlanta Black Star. “I wanted more — it wasn’t enough.”

The details of when Tucker is expected to pay out the $3.58 million settlement to the IRS have yet to be disclosed.

So, nothing special about Hunter then, right?

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

old salt wrote: ↑Mon Nov 06, 2023 10:56 pm

Typical Lax Dad wrote: ↑Mon Nov 06, 2023 10:47 pm

old salt wrote: ↑Mon Nov 06, 2023 9:56 pm

Typical Lax Dad wrote: ↑Mon Nov 06, 2023 8:50 pm

old salt wrote: ↑Fri Nov 03, 2023 1:31 am

Typical Lax Dad wrote: ↑Thu Nov 02, 2023 11:22 pm https://www.cbsnews.com/amp/news/tax-ir ... 8-billion/

It's OK, look at all the other cheaters. Good example there "dad".

https://www.instagram.com/p/CzRD12IAcc- ... M1YmI2Ng==

great example

https://finance.yahoo.com/news/decades- ... 23894.html
This is not Tucker’s first rodeo with the federal agency. In 2014, he agreed to pay the IRS $14 million after a lien was placed on one of his properties due to what his team said was the result of “poor accounting and business management.”

In 2010, the IRS and Tucker began negotiations that continued in 2011 and 2016 that would have him entering into an installment payment plan. The scheduled payments were to be between $25,000 and $50,000 over the course of 10 years.

Ultimately, the deal fell through when it was determined that the Atlanta-GA, native could not pay the debt off within a decade. Per the court documents, Tucker chose not to make payments despite having “sufficient equity and cash to pay the taxes fully.”

Over the past years, the IRS has reportedly urged Tucker to liquidate his assets to pay off the taxes. However, the suggestion was turned down.

Instead, in 2015, the 52-year-old actor and the U.S. agency agreed on monthly payments of $38,000 that he paid consistently before defaulting in 2019, according to MSN.

Success In Hollywood
In early 2023, Tucker, who has achieved huge success within Hollywood, especially for the “Rush Hour” trilogy of films, explained why he walked away from the industry despite earning top dollar as an actor at the time.

“The way I kind of stepped back from Hollywood, at one point being the highest paid actor in Hollywood, I felt like you know it was a ceiling right there,” Tucker said in an interview with Classix 102.9 ATL, per Atlanta Black Star. “I wanted more — it wasn’t enough.”

The details of when Tucker is expected to pay out the $3.58 million settlement to the IRS have yet to be disclosed.

So, nothing special about Hunter then, right?

Agree. Neither is special. They're both criminal scofflaws.
I don't know where the amounts they owe rank in the list of tax criminals.

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

OCanada wrote: ↑Tue Nov 07, 2023 6:45 am OS makes thongs up in order to distract and deflect. No need to worry about truth

Typical Lax Dad wrote: ↑Tue Nov 07, 2023 2:32 am

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

Who said not paying taxes is OK? You trippin’

OCanada wrote: ↑Tue Nov 07, 2023 7:25 am Lololol it definitely would

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

Trump said yesterday that Mar-A-Lago is worth between $1B and $1.5B, but it is "smart" for him to claim to Palm Beach tax authorities that it's worth only its value as a club (and then says its "worth more" as a club than as a residence, huh?). As a club it has limited cash flow, and was valued less than $30 million. That makes Trump "smart".

The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

But let's be more conservative, Trump Org valued Mar-A-Lago at $500 million in its statements of Trump's personal worth, trust fund's worth, for business loans, insurance, etc.

If $500 million, more than $5 million unpaid taxes per year.

In 2002, Trump signed a deed restriction limiting the use, in perpetuity, of the property as a club. Not a residence. So, 20 years of paying taxes on a basis much, much lower than claimed for other purposes.

$100 million on most conservative end. $300 million on high end.

From a purely cash cost basis, Trump would be better off taking a beating on the business fraud and sticking with the lower tax assessment. But that wasn't his tactic yesterday.

I think he's going to lose hard on the fraud, indeed it's already been adjudicated as fraud. The argument is now on what the 'damages' were to lenders, etc, predominantly in lesser interest payments than what would have been reasonable had the fraud not occurred. An expert says $168 million....and then there's the punitive damages which can be a multiple of whatever is found as actual damages.

But Trump's tactic opens him up now to being sued for unpaid taxes in Palm Beach County too. So, another $100 - 300 million. That would have been pretty easy to avoid if he'd just said, yeah, the higher #'s were an error, but "I didn't order or intend for fraud to be committed". Gonna lose that one, anyway.

But his lawyers may feel it's better to take whatever tax hit than for Trump to admit to the fraud openly, as that might trigger criminal fraud conviction.

And Trump himself is only really thinking about the election, which is probably his only rational way out of jail, indeed the discussion of declaring the Insurrection Act and martial law at the outset of assuming the Presidency would create a situation in which monies can be quickly restored to his personal coffers in the resultant dictatorial kleptocracy.

Farfromgeneva wrote: ↑Tue Nov 07, 2023 10:16 am

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

Trump said yesterday that Mar-A-Lago is worth between $1B and $1.5B, but it is "smart" for him to claim to Palm Beach tax authorities that it's worth only its value as a club (and then says its "worth more" as a club than as a residence, huh?). As a club it has limited cash flow, and was valued less than $30 million. That makes Trump "smart".

The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

But let's be more conservative, Trump Org valued Mar-A-Lago at $500 million in its statements of Trump's personal worth, trust fund's worth, for business loans, insurance, etc.

If $500 million, more than $5 million unpaid taxes per year.

In 2002, Trump signed a deed restriction limiting the use, in perpetuity, of the property as a club. Not a residence. So, 20 years of paying taxes on a basis much, much lower than claimed for other purposes.

$100 million on most conservative end. $300 million on high end.

From a purely cash cost basis, Trump would be better off taking a beating on the business fraud and sticking with the lower tax assessment. But that wasn't his tactic yesterday.

I think he's going to lose hard on the fraud, indeed it's already been adjudicated as fraud. The argument is now on what the 'damages' were to lenders, etc, predominantly in lesser interest payments than what would have been reasonable had the fraud not occurred. An expert says $168 million....and then there's the punitive damages which can be a multiple of whatever is found as actual damages.

But Trump's tactic opens him up now to being sued for unpaid taxes in Palm Beach County too. So, another $100 - 300 million. That would have been pretty easy to avoid if he'd just said, yeah, the higher #'s were an error, but "I didn't order or intend for fraud to be committed". Gonna lose that one, anyway.

But his lawyers may feel it's better to take whatever tax hit than for Trump to admit to the fraud openly, as that might trigger criminal fraud conviction.

And Trump himself is only really thinking about the election, which is probably his only rational way out of jail, indeed the discussion of declaring the Insurrection Act and martial law at the outset of assuming the Presidency would create a situation in which monies can be quickly restored to his personal coffers in the resultant dictatorial kleptocracy.

Bottom line is it’s up to those that supposedly hate liberals and Dems but don’t support Trump to stand up and out him down and the fact they aren’t speaks volumes about their character and spine.

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

Trump said yesterday that Mar-A-Lago is worth between $1B and $1.5B, but it is "smart" for him to claim to Palm Beach tax authorities that it's worth only its value as a club (and then says its "worth more" as a club than as a residence, huh?). As a club it has limited cash flow, and was valued less than $30 million. That makes Trump "smart".

The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

But let's be more conservative, Trump Org valued Mar-A-Lago at $500 million in its statements of Trump's personal worth, trust fund's worth, for business loans, insurance, etc.

If $500 million, more than $5 million unpaid taxes per year.

In 2002, Trump signed a deed restriction limiting the use, in perpetuity, of the property as a club. Not a residence. So, 20 years of paying taxes on a basis much, much lower than claimed for other purposes.

$100 million on most conservative end. $300 million on high end.

From a purely cash cost basis, Trump would be better off taking a beating on the business fraud and sticking with the lower tax assessment. But that wasn't his tactic yesterday.

I think he's going to lose hard on the fraud, indeed it's already been adjudicated as fraud. The argument is now on what the 'damages' were to lenders, etc, predominantly in lesser interest payments than what would have been reasonable had the fraud not occurred. An expert says $168 million....and then there's the punitive damages which can be a multiple of whatever is found as actual damages.

But Trump's tactic opens him up now to being sued for unpaid taxes in Palm Beach County too. So, another $100 - 300 million. That would have been pretty easy to avoid if he'd just said, yeah, the higher #'s were an error, but "I didn't order or intend for fraud to be committed". Gonna lose that one, anyway.

But his lawyers may feel it's better to take whatever tax hit than for Trump to admit to the fraud openly, as that might trigger criminal fraud conviction.

And Trump himself is only really thinking about the election, which is probably his only rational way out of jail, indeed the discussion of declaring the Insurrection Act and martial law at the outset of assuming the Presidency would create a situation in which monies can be quickly restored to his personal coffers in the resultant dictatorial kleptocracy.

ggait wrote: ↑Tue Nov 07, 2023 2:45 pm Can't wait for Gym Jordan, Andy McCarthy and Cracked Saltine to tell us how all of those lawyers are jeopardizing their law licenses and livelihoods by repeatedly and publicly lying about that stuff. Because they are all in the tank for Sleepy Joe and Crackhead Hunter.

And Weiss will presumably triple/quadruple down on those lies in the future. Since, like all SCs, he is required to furnish a written report to Congress and will come in and testify again. Seems like the stupidest possible way to pull off a cover up.

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

old salt wrote: ↑Tue Nov 07, 2023 3:34 pm

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

...what taxing authority allows the property owner to assess the value of the property for tax purposes ?

Which case against Trump includes charges of tax fraud ?

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 7:02 pm

old salt wrote: ↑Tue Nov 07, 2023 3:34 pm

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

...what taxing authority allows the property owner to assess the value of the property for tax purposes ?

Which case against Trump includes charges of tax fraud ?

You conveniently cut the rest of my post.

But to answer your question, every jurisdiction I know of has a property tax appeals process that allows the property owner to submit their argument as to what the valuation should be.

Apparently Trump signed a deed restriction in 2002 that restricts the usage to a club, not a residence. Common practice for valuation of club properties is cash flows generated. Which Trump submitted as his argument for a low valuation. Palm Beach County accepted that argument based upon the valid deed restriction and the cash flows submitted by Trump. Nothing wrong with that...if that's all there was to it.

This is why he thinks he's 'smart'. He spends a great deal of time at his own club, yet operates it as a club so as to both generate some profits AND to avoid taxes that would be due if valued as a residence (it still wouldn't be worth what he's claimed, but that's another matter).

And that's all legal, or would be...except that he can't also righteously claim that the property has hundreds of millions of value for other purposes. (Much less $1-1.5 BILLION in value) As I wrote, he could have stuck with the notion that he'd made a mistake, hadn't been paying attention, his accountants didn't tell him the right thing, whatever BS story...the judge has already ruled it to be fraud based on the hard, cold facts, so that case was already lost...why open up the possibility of an unpaid taxes claim?

If he's going to full throatily now make the argument that the deed restriction isn't real, doesn't actually restrict the property's usage, is essentially a sham, indeed it actually increases the value to a buyer rather than decreases it,(and yes, that was his argument yesterday) then Palm Beach County can open up an unpaid tax case. They haven't done so yet, but perhaps they will do so now. I sure as heck would if I was the tax authority in Palm Beach County. That's serious jack, pays for lots of street lights during Xmas...

Trump's issue is that he's bragging about having pulled one over the tax authorities. He's "smart"...

Typical Lax Dad wrote: ↑Tue Nov 07, 2023 1:12 pm

MDlaxfan76 wrote: ↑Tue Nov 07, 2023 10:11 am

old salt wrote: ↑Tue Nov 07, 2023 2:26 am

NattyBohChamps04 wrote: ↑Mon Nov 06, 2023 11:28 pm

old salt wrote: ↑Mon Nov 06, 2023 10:56 pmI don't know where the amounts they owe rank in the list of tax criminals.

Yes, we all know you don't know. That's a feature of your world view.

So enlighten me. Now significant or insignificant are their unpaid tax liabilities ?

It's OK because everybody's doing it ?

Trump said yesterday that Mar-A-Lago is worth between $1B and $1.5B, but it is "smart" for him to claim to Palm Beach tax authorities that it's worth only its value as a club (and then says its "worth more" as a club than as a residence, huh?). As a club it has limited cash flow, and was valued less than $30 million. That makes Trump "smart".

The tax rate in Palm Beach county is 1.11%.
Taking the low end of Trump's estimate of value, that's more than $10 million in unpaid taxes per year.
High end, more than $15 million per year.

But let's be more conservative, Trump Org valued Mar-A-Lago at $500 million in its statements of Trump's personal worth, trust fund's worth, for business loans, insurance, etc.

If $500 million, more than $5 million unpaid taxes per year.

In 2002, Trump signed a deed restriction limiting the use, in perpetuity, of the property as a club. Not a residence. So, 20 years of paying taxes on a basis much, much lower than claimed for other purposes.

$100 million on most conservative end. $300 million on high end.

From a purely cash cost basis, Trump would be better off taking a beating on the business fraud and sticking with the lower tax assessment. But that wasn't his tactic yesterday.

I think he's going to lose hard on the fraud, indeed it's already been adjudicated as fraud. The argument is now on what the 'damages' were to lenders, etc, predominantly in lesser interest payments than what would have been reasonable had the fraud not occurred. An expert says $168 million....and then there's the punitive damages which can be a multiple of whatever is found as actual damages.

But Trump's tactic opens him up now to being sued for unpaid taxes in Palm Beach County too. So, another $100 - 300 million. That would have been pretty easy to avoid if he'd just said, yeah, the higher #'s were an error, but "I didn't order or intend for fraud to be committed". Gonna lose that one, anyway.

But his lawyers may feel it's better to take whatever tax hit than for Trump to admit to the fraud openly, as that might trigger criminal fraud conviction.

And Trump himself is only really thinking about the election, which is probably his only rational way out of jail, indeed the discussion of declaring the Insurrection Act and martial law at the outset of assuming the Presidency would create a situation in which monies can be quickly restored to his personal coffers in the resultant dictatorial kleptocracy.

That money doesn’t count. Hunter’s situation is far more egregious….and if Trump wants a Kleptocracy, so be it as the voters voted for him and knew it. That’s what we were told when he was in office the last time by Old Salt.