Trump Still Not Giving in to Demands Calling for Tax Returns
So what do you think about Donald Trump and his tax returns? This has been the subject of much scrutiny since Mr. Trump announced he was running for president and eventually becoming the republican nominee. Whether you love him or hate him, it appears that most people, even republicans feel that he should release his tax returns for the public to see.
His reasons for not doing so have ranged from he can’t because he’s being audited to people really don’t care about his taxes. More recently, his son, Donald Jr., said disclosing his father’s finances would only serve to cause political problems, “because he’s got a 12,000-page tax return that would create financial auditors out of every person in the country asking questions that would distract from Trump’s main message.”
It seems that just about everyone has an opinion on the matter, including fellow billionaire, Mark Cuban. In fact, we recently shared some thoughts from the Dallas Mavericks’ owner in this blog space: click here to read more. Now it seems that Mr. Cuban, who has pledged his support for Hilary Clinton, has more to say about this subject matter. According to the outspoken entrepreneur, not releasing his tax returns is actually one of the smartest things Mr. Trump has done.
As Mr. Cuban sees it, by not making his tax returns public the republican nominee has been able to keep his returns at the forefront of the campaign, thus allowing him to avoid talking about issues that actually matter. So in other words, Mr. Cuban feels that Mr. Trump’s unreleased tax returns are serving as a very effective diversion. Meanwhile, at this point Mr. Trump still has not indicated exactly when, or if, he will release his returns.
How to Handle Tough Decisions
Everyone has to make decisions in life and many of those decisions can be very difficult to make. The same can be said for businesses. Decision makers in the business world face a lot of tough choices and some of these choices can actually make or break their companies. So how do they make tough…
Using a Tax Shelter? IRS Says Beware
People look for many different ways to save on taxes, or even to avoid paying some of the taxes they really do owe. However, despite taxpayers’ best efforts, the IRS is always on the prowl and if you’re using unscrupulous means to avoid paying taxes there is a good chance you will get caught, including…
What Is Section 1202 Stock?
The Protecting Americans From Tax Hikes Act of 2015 (PATH Act), which was signed into law late last year, finally made several temporary tax breaks permanent. Among the tax breaks included is the Small Business Stock Gains Exclusion, known as Section 1202. So what is the Small Business Stock Gain Exclusion? Section 1202 is designed…
Some of the Most Amazing Tax Deductions Ever
At GROCO, we have been doing this for more than 50 years. That means we’ve heard just about every crazy tax story you can imagine. With tax season now officially in full swing we thought we would share some of the craziest tax deduction stories we’ve ever heard; and they’re all true. A gas station…