Page 55 - Deductions News Today

She is the grandma, i think she calls herself, of her team, and the fact that she realized, after that vault, that something wasnt quite right, not only mentally in the air, but also physically in her landing. so she didnt want to be taking away points, deductions from her team, knowing that she couldnt quite be the performance -- do the performance that shes used to doing. so by stepping aside, and allowing another teammate who was more ready and more able to do the task in her stead, that real...

Propublica investigative reporter. our tax code allows sports team owners to take deductions on team assets, like their cars that depreciate in value. you dont get to deduct your car. walk me through how this works. >> so the original idea, right, is if you have a widget factory, you purchase a widget-making business, you know, over time the assets that make up that business, the widget conveyor belt, the widget maker, are going to break down and youre going to have to replace them. they lose th...

Equity, and it is leaving generations frustrated and causing a lot of the millennial, and boomer and gen-x in-fighting. are these policies are going to last, and you will see the home deductions not long lasting, and once these generations are up and coming. >> and if people are lucky enough to buy a new house in this market, good luck to buy furniture and appliances to put it in. i saw a major retailer saying 27 weeks for the delivery of a new sofa, and then i did the math, and this is like sev...

Weisselbergs salary in a year is being paid in a false way. in a -- in a way that doesnt have any withholding on it, at all, sets him up to do all sorts of other kind of deductions that, as an employee, he would not be allowed to do. >> yeah. i think whats one of the significant pieces of evidence in this indictment, which is a speaking indictment, which provides a lot of meat on the bone here. both, because this is a significant case of public interest. and also, perhaps, to send a message to t...

To be any charges, as we know, against the former president. we just need to make that clear. >> but id like to ask -- i dont know the difference, if you own the company and you have tax liability, for example, attitude is, and taking major deductions inside the corp for pennation or for benefit yourself, if you are the owner of the company. >> you are asking a great question, which i think a lot of people will be asking today, which is why is this case against the corporation? a lot of prosecut...

Jail time. so there is a whole wide range depending upon the extent and the severity, and the dollar amount of tax fraud that we are talking about. >> adam, the trump team says that it is a witch hunt, and that is itself not anything new or noteworthy, because he says that about everything, but he says that the manhattan d.a. office has never pursued a case of malfeasance like this. is that true? >> i dont believe so. we dont know what the nature of the charges are or the nature of the contact t...

If you end deductions for foreign corporations who ship their profits out of the united states, that raises $260 billion in these tax havens. you know, there are 30 corporations in america that are fortune 500 making -- i come from the corporate capital of the world, delaware. not a joke. more corporations are incorporated in delaware than all of the rest of america combined. okay. guess what? 15 of the fortune 500 companies last year paid -- i mean 30, excuse me, paid zero taxes. they made bill...

If you end deductions from foreign corporations who ship their profits out of the united states, that raises $260 billion in these tax havens. there are 30 corporations in america fortune 500 -- i come from the corporate capital of the world, delaware. not a joke. more corporations are incorporated in delaware than all the rest of america combined, okay? guess what? 15 of the fortune 500 companies last year -- i mean 30, paid zero taxes. they made billions of dollars. paid not a penny in tax. no...

Him, i pay my taxes because i know the laws going to be applied to me and i know everything. but the point is, if they do not take income and if you got the appraisal on your house today it would be x numbers of dollars. maybe its worth $1 million and you go to sell it may be it not only sells for 750 despite what the appraisal is. there is a difference between the estimated amount of money they have or the stock price today versus a stock price when they sell it. >> thats nuts whats happening, ...

Whats going to happen when all of a sudden they turn around and start asking him about his tax returns or about the devaluation of the assets or the way that he took deductions? i dont do my taxes. its my accountant. so hes going to turn on his accountant, point the finger. hes going to say, don junior handled that, ivanka handled that. melania. dont take me. take melania. hes going to tell them to take everyone except for himself. >> you see my surprise there. you know, neal, the question then ...