Page 68 - Deductions News Today

Liability using deductions that are only available to big businesses and especially potent for real estate developers. >> there is nothing thats been done. we have the first tax rewrite in a long time happen and nothing was done to curtail these types of loophole that is allow somebody making money to not pay federal taxes. >> sure. i mean, the tax code, the tax overhaul changed a lot, and there were things that got eliminated but for real estate the net outcome of all of these changes was posit...

Tax reform act. he tried to keep the provision that would allow him to continue to take deductions on gifts of papers to the united states. it would not surprise me if we find president trump and jared kushner lobbied and trying to keep that provision in the tax bill. >> have we seen that? indications of that? >> there is a ton of lobbyists on the financial world. i dont think this issue matters at all. >> democrats are going to hate the tax bill no matter what and republicans are going to love ...

Real estate investors, primarily depreciation allowing them to take big deductions corresponding to what they pay for the properties they buy. there is nothing illegal about that, theres enormous flexibility for them to determine their own tax bills, but one of the interesting things in the tax legislation signed by the president last year, several of those benefits for real estate developers were made significantly more generous. this has for both other industries and other individuals were par...

Came from. dont want to publicize to the world that they have that, but it is obvious. >> deductions are being made. nic, a few things here. theres possible fallout for so many, whether it be the turks who might have information, they want to share it with the world, but at the same time there may be real repurercussions. if they did away with khashoggi, perhaps maybe they underestimated the power of this news spreading the world that the journalist may have been killed and it may have been carr...

Important words here is depreciati depreciation. its a term that -- that defines the wear and tear on buildings. so if you are a real estate investor or owner and you buy a building, the government says that you are allowed to take deductions on your taxes every year up to a certain amount that are supposed to allow you to spend money to keep the building up, and you know, not have it fall apart without, you know, bearing unbearable costs. the issue is that a lot of times you dont ever have to s...

Deductions is not unusual at all. it made coy come as a surprise people that this happens all the time. when it happens in ways that are less than legal, there are too few enforcers out there in the irs department to investigate this. >> im going to read one line from the piece. "nothing in the document suggests jared kushner broke the law." it suggests he paid all taxes dues. >> ill never forget, i was covering him on the campaign trail and he literally dodged the issue of not releasing his tax...

Building the chrysler building, the world trade center. this is an appraiser who knows new york city. by the way, the irs did attack the valuation and the irs did get adjustments. >> martha: up. a period of growth in real estate -- >> by the way, mark zuckerberg has a grant, you get to go things. a discount if you dont have stock, and you get a minority discount. basically, the trump estate passed and the children had to make pay one-third of the balance in annuity payment. they are going to get...

Breaking news out of georeoa as promised. the randolph county board of elections voted down the plan that would have closed seven of the nine polling places in rural predominantly african-american counties. the meeting lasted less than a minute. critics called the plan to consolidate polling places a brazen attempt to suppress the black voc in one of the most closely watched races of the 2018 midterms. the georgia governors race, which pits former georgia house minority leader stacy abrams, who ...

Deduction that quote benefit the high income earners to pay for tax cuts for american families. he said the tax deduction thing benefitted rich people. deductions reduce your overall tax bill. in new york, the cap could increase taxes by $14 billion this year. new york governor cuomo calls it a political attempt to hurt democratic states. he promised to fight this treasury rule. california republican congress member duncan hunter and his wife pleading not guilty in federal court thursday at th...

Side tony enforce prevails. >> its been more of a purple even blue state. one of the things scott walker did is he stopped the automatic deductions from teachers paychecks money that went to the teachers union big turnout operation for the democratic party. thats no longer there. and since then that party hasnt been very successful in the state. his opponent came out of a very bruising primary. key issue they have is opposing a foxconn, a plant to make cell phones in the united states. all 8 of ...