Trump Organization Found Guilty in Tax Fraud Scheme

So you are saying that Trump gave those payments as gifts? Did the company tax return show these gifts? And your $13 million is nearly $13 million higher than allowed tax free. You clearly need to educate yourself on gifts, taxes and employee loans.

 

So you are saying that Trump gave $100k checks as gifts?

 

Weisselbergs testimony was that he he said, “I’ll pay you back” after Trump personally signed the check. Do you think Trump signed a check for $100,000 without knowing how he was going to be paid back?

 

What's the problem if he did?

 

You are very confused. Earlier you said it was a gift. The recipient of a gift does not pay tax on the gift so not possible to commit tax fraud.

 

You said that the signature was electronic so still waiting for your source. Either Trump gave him the check or wisselberg stole the money. Which is it? These checks have to be declared somewhere on the tax returns either as payroll or gifts

 

Good lord.

First of all, who was charged with avoiding paying taxes on gifts?

Weisellberg or whatever his name is was charged with manipulating his annual salary to claim less on HIS taxes. He wasn't charged for not taxing gifts.

It's not clear to me if Trump paid the check to him, or to the institution. If he paid it directly to the academic institution, it's not taxable AT ALL.

If only there was a device we could use to search the global knowledge base we could find things like this:

https://www.nerdwallet.com/article/taxes/gift-tax-rate

How do I avoid gift tax?
Two things keep the IRS’s hands out of most people's candy dish: the annual exclusion ($16,000 in 2022 and $17,000 in 2023), and the lifetime exclusion ($12.06 million in 2022 and $12.92 million in 2023).

Stay below those and you can be generous under the radar. Go above, and you'll have to fill out a gift tax form when filing returns — but you still might avoid having to pay any gift tax.

How the annual gift tax exclusion works
In 2022, you can give up to $16,000 to someone in a year and generally not have to deal with the IRS about it. In 2023, this threshold is $17,000. A bit more about how that works:

• If, for example, you give more than $16,000 in cash or assets (for example, stocks, land, a new car) to any one person in 2022, you need to file a gift tax return. That doesn’t mean you have to pay a gift tax. It just means you need to file IRS Form 709 to disclose the gift.
  

 

Where was anyone charged with gift tax fraud.

I'm not the confused one lol.

 

The person giving gifts over the maximum allowed ($16,000 per year) has to pay the tax on those gifts and declare them on their tax returns

 

He gave him a check to pay for the tuition. Nothing wrong with that in either direction the problem is not with that check. It is the payroll checks. Which are generated differently. Which, by the way, is what I meant when I said you were conflating two different things.

 

More than likely they won't pay taxes. There's a million ways to legally get around it.

Besides, you didn't really answer my question.

Who, if anyone, was charged for avoiding taxes on gifts?

 

They really struggle with basic concepts.

This is what happens to you when you out-source your thinking.

 

So now you're saying it wasn't a gift, you're saying it was a loan.

 

A gift comes out of net profit after tax. The tax on the gift has already been paid by the gifter - the gift does not come out of the gross income. It is not a tax loophole otherwise an employer can avoid paying any medicare tax or social security tax on their staff wages by using gifts instead of salary. The recipient of a gift does not pay any taxes on the gift

 

As far as i am aware, you are the only one who has said that the checks were gifts

 

You're the one that keeps bringing up the checks and gifts.

What was the significance of the checks then?

 

So was Trump charged with not paying taxes on gifts?

 

I’m not saying anything. I’m reporting what Wiesselberg testified.

 

BINGO!

And this is what the Trump organization was found guilty of. Avoiding paying the payroll tax on Wiesselberg’s salary by camouflaging it as a “gift”.