Trump’s Taxes: Is he being fraudulent? Or is he simply a smart businessman? There are so many differing opinions on this subject- some say its fraud, others say its capitalism. So, what is the truth? Before we can answer these questions, we have to break it all down and look at it through a perspective that isn't biased by political affiliations. That is exactly what Blake, CEO and Founder of Boron Capital, does in this episode of The Solomon Investor.
Trump’s Taxes: Is he being fraudulent? Or is he simply a smart businessman?
There are so many differing opinions on this subject- some say its fraud, others say its capitalism. So, what is the truth?
Before we can answer these questions, we have to break it all down and look at it through a perspective that isn't biased by political affiliations.
Let’s begin!
--Become a Solomon Investor Today: http://solomoninvestor.com
-- Speak to our team to learn more: https://legacy.boroncap.com/free-call
-- Make sure to subscribe so you never miss an episode!
Key Takeaways:
Breaking down Trump’s Taxes (1:52)
Why are General & Administration expenses so important in Trump’s Taxes? (3:10)
Million-dollar losses & tax breaks (5:09)
Why was the IRS tax code created? (6:36)
Real Estate Taxes & cash flow (7:05)
A real estate tax strategy (8:04)
Vertical-Integrated Synergies (9:13)
Follow Us On Social Media:
📱Facebook: https://www.facebook.com/BoronCapital
📸Instagram: https://www.instagram.com/boroncapital
💬Twitter: https://twitter.com/boroncapital
--Become a Solomon Investor Today: http://solomoninvestor.com
-- Speak to our team to learn more: https://legacy.boroncap.com/free-call
-- Make sure to subscribe so you never miss an episode!
-- DISCLAIMER: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses. No communication by Boron Capital, LLC Inc. or any of its affiliates (collectively, “Boron Capital, LLC™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing on this episode is intended as an offer to extend credit, an offer to purchase or sell securities or a solicitation of any securities transaction.
Resources:
https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html
https://globalnews.ca/news/7363940/trump-tax-returns-reaction-democrats/
https://www.fastcompany.com/90557002/how-trump-exploits-historic-architecture-to-avoid-paying-taxes
https://www.irishtimes.com/news/world/us/donald-trump-s-irish-and-scottish-golf-courses-reported-losses-of-63-6m-1.4366933
It's time to talk Trump taxes is in fraud, is he gonna get caught by the IRS? Or is he just a smart businessman, it's time to decide to have voices on the left that are very, very clear that he's in fraud. And look, billionaires should not be able to pay zero dollars in taxes. Then you have other voices are like, Hey, this is called capitalism. This is how the system works. Follow the system of the IRS and you shall make money. What's the truth in amongst all the noise? One thing we're clear on is Trump has had huge losses. However, it's also had massive gains.
And with that,he's used vertical integrated synergies to create massive wealth. All right, but the very end of this video i'm explain to you exactly what vertical integrated synergies are, why you have to have them in your investments, and how you'll create exponential wealth if you do. Hi, my name is Blake Templeton, CEO of boron capital, and your host on The Solomon Investor Podcast. I'm recording videos every single week explaining the news in Kingdom business principles, and then helping you navigate the unchartered waters of your investments in today's market. So if you appreciate content just like that, hit the like button, because that tells the YouTube algorithm that this video is worth watching, and they'll get this video to more people. All right, again, hit the like button now. And let's roll. Alright, so Trump's tax return has been something in the news for the last four years. But clearly on the left, they're bringing that to the surface again, because he has not revealed the taxes. I mean, what's the problem? Just reveal your taxes? Well, clearly, it's an audit right now. And the IRS is going through everything with a fine tooth comb, seeing if he's doing everything correct. Now, the New York Times has done their own investigation. And per the New York Times, they say he's not paying enough taxes. He's not reporting all of his income. And he's doing things that are unscrupulous and bad investment principles, there are a few things that we really need to pay attention to now 11 out of last 18 years, Trump has not paid federal income tax. So clearly, the democrat side would say, Hey, this is wrong. This is unscrupulous me every other president before you they all had to pay taxes. Why are you not paying taxes? Now, if we just call a timeout, and we cut the emotions of the whole situation? Obviously, the majority of this has happening before he was even president. So what else you got processes? You know, he was a businessman. Very few presidents have come into the political world with a business therefore they weren't sure tg CLI utilizing the IRS rules to their benefit. The New York Times also uses this for their case that in the tax return, there's a spot for expenses called General Administration. Now it's not broken out. It's just everything lumped in for Trump's hotels that seems to be that that category has skyrocketed on the years in which he didn't pay taxes, leading them to say, Hey, he's tucking money in certain areas. And maybe this was for political gain. Maybe this was with something with Russia collusion, and so many other thoughts.
They also point out that the general administrative expenses, and his bed minister golf course in New Jersey increased by five fold from 2016 to 2017. Now, why in the world would your expenses in one single category increase five times I mean, this is like general maintenance. This is like the administration, this is like salaries five times, that's a little crazy. But how the tax return is created. You don't have to actually put our line item. So those items, whatever they are, could get stuck in that one category and be considered a write off some other things that do have a line item expense on Trump's tax return, or like linens, or landscaping or photography. And these were upwards of 100 to $200,000. write offs, at least one wondering is it even right to have write offs in the hundreds of thousands for photography or landscape? Now from the business side or a capitalist mindset, one would say, Hey, he's got tons of businesses. There are many different opportunities where photography would be in his ads or his promotions or how he would be utilizing his brand Trump and Trump Tower or landscaping. I mean, there's so many ways with so many properties that you could be utilizing a line item for an expense for landscaping in the hundreds of thousands, but the things that are hard to actually prove or how can he call a loss loss. I mean, on some of his hotels, he has $55 million in losses on a single hotel. Something else that gets under the Democratic Party's skin is when Trump used the IRS code to be qualified for a historic preservation tax break, simply a historic credit for a renovation of a property that he puts money into. He gets the money back on the old post office hotel, he renovated it for $9.7 million, transforming it to the Washington hotel. And guess what? all that money came right back to him.
Welcome to capitalism, in Trump's property, Scotland, Ireland golf, he shows a $63.6 million loss, that that's a massive loss. Where did that come from? How did you even come up with that number, while you just invested 140 4 million in the property, the way that I feel when I'm watching cartoons with my little nephews is a color stimulation everywhere, there's so much going on, I just can't even do that I almost have to go to the other room. I feel like that's what the democrats feel like when they see Trump. He's unconventional. He doesn't follow their system. And he's using the IRS code for his benefit. The truth is, the IRS code was created for capitalism. Welcome to America, the whole reason the tax code was created was so one would have to pay taxes. And if they did specific strategies that would create additional revenue for them to put back into society to create more jobs and stimulate the economy more, they wouldn't have to pay taxes. And that's what Trump's got really good at doing. He's in real estate, he's in construction. He's a businessman. And in real estate, we have multiple different very strong ways of not paying taxes. One way Trump creates a lot of revenue is what we call cash flow. Now let's talk cash flow for a second, depending on the type of property in real estate that you're invested into, there's a certain amount of years that that value can be depreciated, the depreciated value allows you in most cases to not pay taxes on that cash flow. Now for most that would seem like it's unethical. Like that doesn't make sense. We have rules to follow.
It's black and white, you've got to pay your dues. And one thing, you've got two processes, what rules are you living by the one who sets the rules is the IRS tax code. So if you set your investments up as a good steward, then you're going to follow the tax code and then not pay taxes. Let's talk about another strategy that we do not pay taxes in real estate. Now on equity, when we're actually selling a property or selling a portfolio of businesses or real estate, and you make equity, essentially, there's gross revenue, and there's expenses in the cell. And by the time you actually close and you have net profit, that net profit, we're going to call equity, it's your actual money that you could put in your bank, after taxes. However, what you decided was, I'm not going to actually put that money in the bank and then pay tons of taxes, I'm going to do what's called a 1031 exchange, and put that in a similar investment back into real estate. And if you do not take that as profit, it's not taxable, you're able to defer that and continue doing that over and over and over. And that's how the wealthy get wealthier. It's built into the IRS tax code for you to succeed, for you to actually create more wealth than employ more people that put more business into the ecosystem. That is how the system actually works. Whether you like Trump or you don't like Trump, whether you think everything he does politically is great, or you want him to get off of Twitter and just shut up, no matter what one thing he's really good at is vertical integrated synergies. And this is an advanced topic that I talk about in my new book coming out called the Solomon way. 3000 years ago, King Solomon developed this mental framework. Now he did it with a city called mosquito in the ancient time, if you want to do business from Egypt, to Syria, or Saudi Arabia, you had to pass through the city mosquito. So what King Solomon did is he used mosquito and created vertical integrated synergies. It created multiple different revenue streams off of that one city, where it was like monopoly you had to pay the past go, you literally had to pass and pay a fee to continue on your way. Now, not only did you have to pay if you're a trader on the trade Round. But then he created businesses around that he knew that if you're coming from Saudi Arabia, you were coming over 500 miles. And he knew that if you're going to Egypt, you still had 500 miles to go King Solomon create integrated synergies, additional revenue streams that would be very similar today to our hotel, our grocery store, our stock feed for the animals, and so many other things. And everyone knew they would get their supplies here, they would gain new weapons here, they would buy their items while they were on their route to go trade somewhere else. Mosquito became the city that everyone coined it worth 1000 cities, more battles were fought over the city of mosquito because if you control mosquito, in that time, you control the world, and that's vertical integrated synergies, he controlled the land, then he built a business on top. And then he created new revenue streams all around it. And he forced traffic to come through there, and they had to pay and they ended up purchasing and creating many different levels of revenue. Now, as Trump built the brand Trump Tower, he was on the apprentice, the fame began to raise, he started doing endorsement deals everywhere, from Domino's Pizza for 500,000, to a laundry detergent for 850,000. To endorsing and MLM called aacn for 8,768,000 15 million in endorsing mattresses, tons of her speaking gigs and campaigns, these are all in a way or shape or form integrated synergies. Based on the brand he created, he was able to create new revenues. Now he obviously did licensing of Trump Tower and multiple different cities and states and even countries.
Same thing with the golf courses, he built a brand. Now in some way we do that with real estate. And we create revenue streams all around it, where when you invest your money into it, you actually have a fortified front with a very strong way to return because of those revenue streams. And then we use the same tax code to actually, in most cases, not pay any taxes. Before I forget that interest you at all about seeing how you cannot pay taxes, legally, ethically, and morally. What I want you to do is I want you to plug your cell phone and text the word Solomon to 31 996. Again, text the word Solomon the 31 996. In my book, The Solomon way is about to come out. And when you text that number, then gonna be connected with you. And I'm going to give you an opportunity to get the book for free. And I lay it all out in the book, how you can invest just like that and create massive wealth in today's market as IRS is finishing the audit on Trump's taxes. Trump at the end of the day says it's a hoax. It's a witch hunt. And he says nothing is been done wrong. You and I will find out soon, time will tell what I want you to do is like this video. Like what that would mean is click the button now like the thumb That's for you and me my friend. That means you like me, I like you click the button now then what I want you to do is subscribe, subscribe to this channel. I want to give you more videos hot off the press just like this. And so when you click Subscribe, that's going to then notify you when these new videos come out. We are 20 days away from the election. So much craziness is going on in the air. What I want to do is remind you that what's important right now is you to take care of you your investments to be a good steward over your financial future. One thing that we can't do is control everything else. But we can control the decisions we make. We can take control now over our investment future be a good steward over our monies today and actually create exponential wealth tax free. As always, I am praying for you a double portion of favor over your investments, clarity and insight of your purpose, your impact and your legacy as we go into the days ahead with that said I need your help. If you can one single thing out of this video that helps you put a comment below and tell me what it is. I'm always trying to make the videos better, higher quality so that you can take your investments to the next level. So again, put a comment below and remember that I am praying blessings over you. Praying for a double portion of favor over your investments and clarity for your future in the days ahead. Be blessed