President Trump, Tax Fraud?
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- Опубліковано 1 жов 2020
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📺 Do you pay more than $750 in taxes?
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maybe
Should do an episode about Hunter Biden.
@@TnT_F0X um... wat will he find（answer:probably nothing）
Sadly as I learned, this is common in the US
Griesbrei AUT yeah, those teenagers should start paying taxes
As a single, childless, taxpaying citizen, I pay about $750 in taxes each month. I earn 100x less than Trump but pay more than 10x in taxes. This is sickening. Clearly a problem. How long are we going to let this continue? How can it be fixed?
Can legaleagle do a video on the Kevin Clinesmith conviction?
$750 a month? Damn, that's a months pay at a typical job in my country
What’s sickening is the fact that you have 82 likes on your comment, while the rest have thousands. It just shows, people don’t care that they are getting screwed while the rich are not. It’s like they are these folks hero’s for getting away with it and paying their share for them. That’s what’s sad!!
Have you given more thought to how this could be fixed ~ even if it’s just theorycrafting
Answer: Stop rich people from tax evasion
Could you please enable the closed captioning? It's hard to lipread you at every word since I'm not used to American accents and I'm deaf. Even the autocraptions are fine. Thanks.
gotta get this to the top. I'll be honest I never thought of a deaf person watching these videos and I doubt Devin has as well. Sorry about that, I hope it get alleviated
at that point i don't think the accent is the problem lol, i think its the deaf part
I hope youtube doesn't go through with removing community captions for my and your sake, fellow deaf person
@@chillisalad123 wow. For people who lip read well, yes, it IS the accent. He speaks very quickly and there are major differences in oral posture with different accents. Those skilled and practiced at determining the differences absolutely CAN but it's difficult and he speaks very quickly which makes it harder.
@@ktkannibal5421 relax it was just a joke, jesus
Jimmy Carter didn't HAVE TO put his peanut farm into a blind trust, he did so willingly. Love your presentations! Very informative!
In one video, you hit two people I personally knew. Harry Claiborne and Marty Ginsburg. Marty was my tax prof at Georgetown. What a genius. He could have been a standup comedian and just talked about taxes.
Claiborne was a crook, but very nice guy. Highly respected in the Nevada legal community. We are very forgiving of corruption in Nevada
Just wanted to throw out there that he’s on the record saying he does his own hair, doesn’t trust anyone to do it.
He paid himself to style his own hair...
the deduction must be for the hair product itself that makes it stay in place, in which case i could see him spending that much
@@MeganJackson96 The R&D that would go into creating a substance like that alone would account for such a number, I'm sure!
I cut my own hair. And for 40yrs, dyed/highlighted my own hair. Trial and error.. saved myself $60-75 every 2 months. I seriously stuck the $ in a envelope. Christmas money gifts for my kids.
I blew it!.. missed a $70,000 write off.
@@Slanghappy nah, you can get cotton candy machines way cheaper than that
😂
I know Legaleagle mostly does stuff about Trump and current events now, but I'd love to see a video on Sovereign Citizens, those guys are hilarious
True
Watch Knowing Better's video about it
I recommend LawfulMasses with Leonard French for that topic. He's done a lot of videos over them!
Eh, it's bumbling nonsense. It's the legal equivalent of putting your hands over your eyes and shouting "You can't see me!"
that’s a video for a more stable time haha
Tax law is so deliberately malleable , ambiguous, and convoluted that the line between whether someone is committing fraud or just good at identifying breaks and write-offs is non existent, and regardless of how you feel about the legality of Trumps taxes, that is by far the bigger issue.
OR, every tax code line that is written can be worked around by the nature of limits of language
New law suggestion - If a company is legally proved of committing any type of fraud whether convicted or not. The entity loses their right to any tax deductions for 5 years.
What is the difference between legally proved and convicted?
@@threecards333 You can prove a crime and still get away with it so...
The IRS mostly comes after middle income people, not rich people. They often aren't funded well enough to go after people like Trump. Humorous that I pay more tax in a year than Trump has in 20. And I'm only making about 35k/year.
the biggest group of tax avoiders are actually construction workers (contracted) and professionals such as "lawyers/attorneys/accountants/bankers" etc.
Its funny really. Leagle eagle probably does the exact same sort of things with his taxes that accountants do for trump. Such as putting all lunches down as "business expenses".
Driving as "business expenses" etc.
Hell he could even buy his own home through a separate LLC then rent it back to him and because he travels a lot claim that as travel expenses against whichever company at the time he is supposedly doing work for.
Practically everything he buys, or rents or services he obtains, could be classified as an "expense" in one way or another.
A big part of the reason why the IRS focuses on middle income people is that they are simply easier to go after. Rich can afford to hire good lawyers and accountants to hide their finances well and, if they are caught, can hire other lawyers to defend them. Most middle class struggle to hire those kind of people when they really need them, much less for dishonest tax fraud.
Relevant ProPublica article from 2018. TL;DR: this is by design www.propublica.org/article/how-the-irs-was-gutted
I pay less tax than Donald Trump. Granted, I'm Irish, not American, and under Irish tax regulations, I haven't earned enough since I started my working life to pay income tax. I have payed PRSI and USC though (basically social insurance that determines your eligibility for certain social welfare payments)
@@EagerSpace I wouldn't say it's entirely by design. As computer software advanced, poor people generally have the easiest returns to audit because the IRS can just make a basic tax program (similar to what we all use to file taxes) for auditing. This machine can instantly audit and correct all the basic deficiencies (you report 34502 instead of 34520 as AGI for example) and auto corrects it. Wealthier people generally have more aggressive and ambitious returns often using ambiguous interpretations of the law which require court battles which the IRS isn't funded to fight. The lack of funding is intentional, though, the advancement of technology is a mere consequence.
Q: what’s the difference between Tax Evasion and Tax Avoidance?
A: a good lawyer
*a good accountant
Taking legal deductions is avoidance while evasion is not paying taxes actually owed.
@@hydrolito Also good planning. If you bought an undervalued property and have now maximized it's value, it is time to get out. If you sell it, you owe money on the gain. If you buy another property and use the first property's sale to pay for it, you have done a 1031 exchange and owe no money.
Real Answer: A friendly legislature.
@@hydrolito Unless those deductions were taken fraudulently, which is usually the case.
Imagine going from a gold-plated toilet to a toilet/sink combo made of stainless steel behind bars. That's a bad day!
YOU ARE SO FUNNY BARACK OBAMA.
This happened when? Or will happen when? Hnmmm
Talking about the child cages Obama built, trump closed, and Biden reopened?
Weird flex but ok
@@purplefreedom1631 You trump worshippers commit the easiest debunked lies. Either youre doing it on purpose or youre spreading misinformation. Holding cells were created during the obama administration, he didnt have anything to do with that. Stephen Miller specifically had trump create a policy where children could be separated from parents. When biden first became president is was still happening at the border because of trumps policies. Biden slowly had it eliminated. Such blatant lies from you
@@DavidLopez-rk6em UA-cam saw fit to hide your comment from the public, probably due to misinformation. Try again but this time maybe with "I admit, Biden reopened Obama's child cages that trump closed" and your comment might not get hidden.
2 Years later, and he's finally found liable for fraud. I wonder how much will stick.
stick less than Hunters unreported tax convictions
@@andry4313whataboutism
What I learned: Trump may or may not be evading tax, but regardless of that, there are way too many legal ways to avoid tax anyways.
XxGLOWphoenix Lots of great reasons especially for small businesses if used.
What I learned. LegalEagle does not understand tax law at all. Maybe listen to real tax lawyers like Robert Barns rather than this sham. I lost count of how many mistakes LegalEagle made.
Here are two attorneys discussing how wrong LegalEagle was, and one of them has been litigating tax law for 30+ years.
ua-cam.com/video/TFyhmvSFpkc/v-deo.html
Not enough*
This is exactly why the Republican Flat Tax is good, but Liberals don't want it because it is from Republicans, so they automatically assume it is racist...SMH.
@@garrettstephens91 Actually, the problem is with proportion of income going toward taxes. If the flat tax is 25%, people making 30,000/year would have a much more difficult time paying than the wealthy.
"the idea that Trump is a genius who's acting like other business geniuses should probably be scrutinized."
You have a penchant
even tho, trump did a good job
railguncs riiiiiiiiiiight
@@railguncs When? Where? He could not have snuck that past me! After all, we know that he is the Covidiot of all Covidiots. Such a person, by definition, would be incapable of of sneaking anything past almost anybody!
In short, NAAAHH!
@@railguncs I guess he's done an good job stopping illegal immigration; no-one wants to go INTO America now, not even legally lol.
Jessica Taylor statistics say otherwise, but I guess us first worlders are all so ignorant
I just discovered this program and is rapidly becoming one of my favorite UA-cam site. Great job and keep it up!!
It's pretty nice seeing this all start to happen
The IRS is kneecaped too badly to go after rich people who can hire a army of lawyers.
I know this is not how it works but they should limit the number of lawyers to what the opposite party can afford. For example if party 1 can hire 5 lawyers and party 2 can only hire one then both partys are only allowed to hire one lawyer. If this happens the law can apply to everyone evenly, like it should.
The IRS is scary enough that not even the Joker was crazy enough to try and tangle with them....
ua-cam.com/video/G56VgsLfKY4/v-deo.html
Imagine liking the irs lmao
@@LolLol-zr9jc imagine there being double standards lmao
@@blackdragon6 Okay IRS lapdog. Let's just anoint everyone in government you like as sovereign rulers.
So crimes mostly committed by rich people can be defended by “Well golly gee I didn’t know that was illegal!” ? I’m making my shocked face...
This needs a part 2. Since this has been updated with new information
Wow. I happened to have caught this video back then💜 Really good added info for public knowledge & our understanding.
Thank you @LegalEagle
I have to say 750 is a really weird number of money to have to pay
Yeah it doesn't seem like it would affect much rather than just paying zero, not sure why he picked that specific numbed
@@mj-cd9fr That was literally only so that people couldn't say that he paid "zero in taxes", but it ended up looking more suspicious than if he had paid 0.
From what I've seen that might have just been a fee.
He actually paid an estimated tax over over 4 million one of those years for a file extension. He also paid the minimum alternative tax a few of those years. That is not in the no tax figures. Most multi millineries from old money do nto pay income tax, but capitol gains tax. If you read the entire article it discloses it later in the article.
My understanding is that Trump could have paid zero based on the available (ostensible) deductions and credits, but $750 was the highest amount he was willing to pay in those two years.
12:03 “And to try and keep my sanity, I’m going to refrain from putting myself in the head of Donald Trump.”
"... the goggles, they do nothing" - The Simpsons S07E02 - Radioactive Man
17:58 ."..not that president tRump has ever been caught lying." 😂😹
Actually I think it would be fun to be in Trump's head. I always wanted to be an astronaut, and that's a lot of empty space. :p
I don't even live in america but that presidential term was very taxing for me
It was for basically the entire world. My company (in the UK) had a company-wide celebration when he lost the election.
Oh oh when I was in college I would have loved to have had this guy teaching my law class
“Mercy to the guilty is cruelty to the innocent.”
― Adam Smith
@Roof Korean You don't need to be wholly innocent to be innocent of a particular crime or several. Take your quote away.
So very well said. I have to note this quote right now and spam it liberally. Thanks :D
@Matt B Every time you call him a god he creates a new warp storm.
Ah yes, a capitalist philosopher decrying the concept of mercy.
“It’s better a guilty free than an innocent in prison”
"Adult offspring employees" is serious shade yet 100% accurate.
i can just see the neoliberal technocratic hellhole of the near future where we have children based on the labor needs of some billionaire that us. Can we please please please stop moving so far to the right in this country before this becomes a reality? Indentured servitude is already here.
I know it’s not his intent, but that description makes them sound like pod people to me.😂 And I do not object!
I suppose you'd work for your parents for free
@@6526447 er... yes? Sometimes I got paid, sometimes I didn't. Same goes for my sister.
What was your point, please?
@@sisuguillam5109 not paying at all is really bad idea actually, miss out on tax deductions (the legal kind)
How you kept a straight face during the Skillshare promo was impressive, that was comedy gold.
Your videos are truly educational. Thank you.
"So, how do taxes in America work?"
"We work off an 'inverse' income tax. The more money you have, the less you pay."
"The less percentage? So it's just a head tax?"
"No, no, no. You actually just pay less. It's kind of dumb now that I'm thinking about it."
You joke, but there is an arguement to be made for tax breaks for the rich.
@@memyselfandi6354 Yeah, but they're all pretty obvious propaganda.
Antarath Well you're free to that opinion.
@@memyselfandi6354 It is a fact. Trickle down economics is a part of the propaganda machine that really took off during the Reagan presidency. Later it joined up with evangelical ideas into what we now know as modern day conservatism and prosperity gospel.
Antarath Yes, I'm familiar with Reagan, believe it or not. I don't like you implying that I am somehow inferior by saying "I don't want to do this to you" so if you could refrain from doing that out of respect for me as a human, I would like that.
Objection: you can't fire that many shots in a single ad reading
He's a Lawyer, if anyone can take Thomson magsized shots, its dis guy
I was impressed.
I've noticed about how his segue get more and more vicious as 2020 progress
That was BRUTAL.
Illegal possession of a high-capacity magazine
IRS tax code aside, there are also federal laws regarding making false or misleading statements to the government: much akin to lying to a Federal Agent (aka the FBI), and/or Perjury in a court of law.
anyone else think it's very odd that in order for someone to be charged with tax evasion, they need evidence that you were willingly violating the law, whereas for most property crimes that poor people commit, circumstantial evidence (without intent) is usually more than enough evidence for a conviction?
What I learned from this video: you pay less taxes on a house if it's not your home; if your business makes enough money, you can get a tax bailout for losing money; when a renter has low income but pays the normal rental rate, the real estate company gets a tax write-off. This isn't just legal tax avoidance, this isn't just sneaky legal tax loopholes that can be exploited if you're careful, this is a tax code that blatantly benefits the absolute richest.
Hey, the super-rich pay good money to have the tax codes written in their favor!
the government should not have gotten so large and complicated so these powers would never have been there to be taken. Tax write offs and government bail out to "regulate" the economy, doesn't allows banks and the rich to learn from their mistakes.
@@rohinghosh2685 its the absolute lack of regulation that caused it! you mean to tell me if no regulation was there these guys on the good will they obviously have would do good? Don't fall for the naivety or the dream that if you simp hard enough for the super rich, you one day will become one.
If only there were a great politician that could have fixed those loopholes in their 40+ years in government
@@heat5wave in what country do you live in that you think that there is a lack of regulation, because that is not the US, the us has had more regulation for businesses than "Communist" china and the Scandinavian countries these socialists seem to love. All of these complex tax codes and regulation make it easy for companies to add more to benefit them
He'd probably try to claim the taxes as a deduction against his taxes.
taxception
I almost spit out my drink lol
Actually you can claim state taxes against your federal taxes, however trump actually lessened the amount while pelosi and much of the left wants to increase that amount that you can claim. this by the way is called the salt deduction and only really helps he rich.
@@aaronmontgomery2055 Refusing to financially support your troops and the cost of infrastructure used to make money, is treason.
@@allanlank he's gonna try it anyways
I watch you a lot, I've learned a lot. This episode made my brain go numb, I did try to listen.
Great video! Thanks for the thorough breakdown.
"But that doesn't mean President Trump couldn't use a refresher..."
Me: THERE it is! 🤣
"To keep my sanity, I'm going to refrain putting myself in the head of Donald trump"
I'm dying
Nota bene: he said head
he did NOT say brain.
You are not dying, but ok
@@johnblumn9965 ok??
@@the_seer_0421 yes
@@johnblumn9965 you understand a joke??
Love the understandings & the clever Segways!
His "charity" organization of raising funds for children with cancer - then informing them they would have to pay his exorbitant "rental" fees for allowing the charity to hold fund-raising events on his properties. And otherwise lining his pockets with various donations. He and his family are deplorable people.
21:30 "A lot of the tax code is written to give benefits to certain groups or individuals..." yeah.. There is the problem.
Thank every party in the US. :D
Yep. It's legal pandering. Often these writings are pretty much only useful for the excessively rich, like corporations and multimillionaires.
Eat the Rich
@@artisticcannibalism1350 Legal Eagle just confirming video after video what the anti-capitalists have been saying for years
Victory has rewards, rewards used to stay on top. Long as you keep playing by Timmy's rules, Timmy keeps winning.
Why did he pay $70,000 for yellow cotton candy? I think he got ripped off.
satire? I never know with trump and I'm British..... he "paid" 70k for it, he didn't actually hand the money over he just said he did and got a receipt to say so, like the hair styling lol
I wonder if yellow Cotton candy is like yellow snow 🤔
@@LordInter exactly! Either he's cheating on his taxes or he paid way too much for that ugly rug!😆
@@itzcolm8737 probably smells the same.🤣
I wish it would get ripped off.
Man, it's wild that this used to be the thing we might get him on.
Thank you sharing your legal and all around knowledge.
This Topic and many, many others about Trump are covered by "Some More News"
Thank you so much for acknowledging the possibility of money laundering! That's been my main suspicion since the information came out and it's cool to see someone who understands more than me on the subject say that suspicion isn't completely unfounded
"Don't ever use the word smart with me" - Donald Trump (2020)
"because I don't know what it means."
@@nealtse9125 damn, you took my reply
He shouldn't have to worry about such an association. Nobody would associate Trump with the word 'smart'.
“Poor kids are just as smart and talented as white kids” Joe Biden 2020
“If your having trouble deciding between voting Trump or me you are not black” Joe Biden 2020
The lead-in for the sponsor of this video is truly brilliant. Thank you!
I don't think A SOUL was suprised that trump doesn't pay taxes
Tested very well. Very very well. One of the best tests. Doctors are telling me one of the highest tests they've ever seen. Amazed how high my test was.
off topic but very funny :-)
Passed that COVID test with flying colors
This is all assuming his tests are real, cause you know...
"Sir, this is the ABC's..."
If i understand Trumps state of mind correctly such a statement indicates he actually failed.
He will brag about his success to compensate his failure.
He cannot accept failure, whenever he fails he has to lie about his "succes" or deny his failure.
When his inauguration was visited by fewer people than obamas, he declared this "fake news"
When Hillary clinton got way more votes than he did, he invented "voting Fraud" and imediately founded a komittee to investigate.
18 month later the komittee dissolved, they had found nothing...
I believe the more inexact trumps claims are the more likely he is lying.
I also believe that whenever he has a success he will be rather precise about that success.
I am not able to give any example of the latter however.
Trump apparently uses the Homer Simpson method of filing taxes.
"Shut up, shut up! If I don't hear you, it's not illegal! Okay Marge, if anyone asks, you need 24-hour nursing care, Lisa's a clergyman, Maggie is seven people, and Bart was wounded in Vietnam."
lol which episode was this?
@@timzhai890 Season 9 Episode 20 "The Trouble With Trillions".
ua-cam.com/video/ZnJcZ-5P8hE/v-deo.html
Coool.
He's been under audit multiple times and the IRS has found nothing.
@@TheGreaterGrog *gasp* The agency whose budget has been slashed like it's a teenager in a Friday the 13th movie doesn't have the means to go after rich scumbags with armies of lawyers doing their best to stall and stop them at every single turn? Who'da thunk it?
Thank you LegalEagle, very cool.
Your tie magically re-creases itself at the knot at 6:59. Was there a "phantom film cut" made at that juncture that was not disclosed as would be proper? I smell "Tiegate" in the making. :-)
I lost my returns because of a missing W2 due to a business's incompetence. It makes me upset that he's paid 750 while raking in all this profit when something out of my control ultimately costed me more than double that
So are you just mad at everybody who paid less taxes than you that year? Because I don’t see why you would be mad at anyone except the person who lost your W2.
Cului qui t'aime silence, troll. You know exactly what he meant
Why didn't you just file a 1040-X?
Also, Trump's tax isn't on income, so that is a false comparison. He owns investments, so he pays capital gains.
Legal Eagle is an idiot or a liar or both.
That's illegal. File a complaint with the IRS and/or Labor Department. Don't let your employer screw you over.
@@keld101 Without getting in to a ton of both personal and business related things I either can't or would rather not state right now, I've done everything I can. Still lost $2000 as a result of everything that was out of my control. And not even in tax returns or related (like the stimulus) because that's actually closer to $6000. And as the other person stated, I am bitter over that fact. But also... There's more to what's being discussed here and without anything being disclosed beyond basic numbers, it's definitely ridiculous that someone with as much as the president has, has only paid out that amount. Among other things.
And important edit: not bitter at others who just paid less in taxes. But just the current visible circumstances.
That was the cleanest, most nonchalant segue into Skill Share I've ever seen.
Objection, you said if he is forced to repay all the money he owes and that will bankrupt him, technically true. If he is forced to pay back all the money he owes , it will bankrupt him again. That is more an accurate way to describe his situation.
That skill share ad at the end was brilliant 🤣🤣🤣
"but the best place for him to brush up on his business acumen is not Trump university, it's skillshare." That was brilliant, sir!.
brilliant as in brilliant.org?
... I’ll see myself out
@@MatthewChenIsAwesome I'm so curious if you're using curiositystream.com!
... I'll see myself out
That is what, we in the business, call a *quality segue.*
We got Linus over here with them segues
Trump is garbage
"His adult offspring-employees" got me cracking up.
Has a nice ring to it, akin to "would-be daughter-wife"
I don’t know who you are but maybe u don’t realize what u just said is vile and u deserved for it to be told try loving expressions
O l see he doesn’t pay tax but he recently paid seventy million. And I most say that if I wanted a job I’m pretty sure I won’t be going to you I feel that the disposition you are manifesting is what has put us in our near communistic world perhaps u never see things like this but it a good time to analyze
Lmao! I mean, Ivanka has already been acting like the First Lady instead of Melania.
@@tedmaccarthy4105
"daughter-wife" etc. - I think that's possibly a reference to the notorious occasion on which Trump, speaking in public, looked at his daughter and said to those around him "I would...".
It’s funny that when the media mention Trumps adult children they don’t include Tiffany, despite her being an adult child of Donald Trump. It is like Tiffany doesn’t exist.
I swear to god you have some slick ad transitions
i was at tajma hall back in 98 that building was empty while down the boardwalk bally's and the rest of those casinos were busy as heck.
Seems as though we are nearing the Climax of this movie we call 2020
... bad movie... bad
Gotta say, the buildup with all the disease and disaster was way to over dramatic just for the final scene to be about some tangerines taxes
@@ghosttoast-xx1652 Well, it looks like the election won't be the season finale, so ....
2021 will be OJ2 The Donald Trump Trials. I can see it now, 3 separate serial shows: Trump Tax Fraud Trial, The Embezzler and Bachelor:Russian Oligarchs! The potential for crossover episodes OMG, television is going to evolve!
I'm worried that all this is setup for the sequel, 2020 II: 2021
A perfect example of a "legal" deduction that really is not, comes from my life. I own a 30 ft sailboat that I take out on Lake Michigan often. My neighbor and one of my best friends used to come out there a lot. One day he asked me if thjere was anything new going on with my job, and I told him about a new product roll out. He thought it would be good for his accounting firm, and put me in a meeting with the Senior Partner and the IT guys. He was not involved after that, and had no input on the buying decision or the project (as I knew) but since I closed the deal, he technically became a "client". Suddenly, for doing exactly what we had done for years as friends, I could have legally deducted all the costs of ownership of that boat because I was using it to "entertain clients".
Moreover, if I were really criminal, I could have EASILY inflated my costs a lot. My boat is silopped in a marina run by a non-profit Conservation club and we all pitch in to do the work that any commercial marina charges a lot for, and our slip fees are far lower than commercial marinas. No auditor in the world would question me taking a $9,000 (at least) deduction when my actual costs were about $1,800 plus maybe $1,200 in depreciation. But what I actually deserved in the way of a deduction was ZERO dollars! Phil and I would have continued sailing together whether his firm did business with us or not, and there was no reason to think that doing so made any difference in my business at all.
That's not exactly how federal tax law works. Please talk to a tax professional before trying this at home. And yes, an auditor would absolutely question your imaginary $9,000 deduction because it's their job to do exactly that.
@@CyberDoedel
No, they would not. Well, they possibly would, to the extent of checking to see if $9,000 was a reasonable amount for where I have the boat - it is. And sorry, but one of my best friends is a CPA who specializes in tax law. He was the one who told me I could get away with that - also the same friend I sailed with. I don't think he thought I would ever DO it, but on the boat one day, he said something like, "You know, now that our company is your client, you could deduct all this."
Here is how tax law works - Trump deducts the costs of "Seven Springs" his private family retreat, by calling it an income property and gets away with it for years. He has been claiming that deduction for a long time and has been audited in that time - nobody went after him for that, even though 2 seconds on Google would have raised a huge red flag.
Thanks for being honest that’s something that seems to be lacking in the world of business
What's your complaining about is essentially the way the laws written. You can under law right off a boat which is used for entertaining clients. You were at the point your friend became a client using your boat to entertain clients, the law doesn't make a distinction of how many how often or what their prior business relationship to you was. The Line in the Sand is are you using the boat to entertain clients? Step over that line and you can deduct it. Yes you could write a law which distinguishes how many times you must use the boat to entertain clients, stipulates that if your client is also your friend he's not actually a client but in doing so you're opening the door to a far more intrusive IRS. And seriously I don't want the IRS assessing my personal relationship with my clients oh, that's some creepy 1984 s*** right there
@@theultimategamer8537
Yeah, thanks. I have to agree. THat is what makes such deductions such a problem.I also joined a country club just to network with people who could send business ny way - I am not a big lover of golfing. But most of the members loved it like I love sailing! THey deducted it anyway - even though they would have been members with or without tax incentives, I'll admit - I deducted that one - because I never would have spent that money except to promote business. In fact going there often conflicted with things I really wanted to do. .
But why should ANYTHING be deductible when the purpose is to make more money?
What is really sad, is that I had an acquaintance in college whose parents were rich, and owned a company. THey appointed him as a VP, and paid for his college as "salary and benefits" That allowed them (through the company) to deduct his whole education! My parents could not do that and would not have tried if they could. I paid nearly $20,000 for tution, books, room and board, etc which was at the time close to the median family income! So the rich probably saved at lest $4,000/yr for sending their kid to college, and mine saved nothing. As Trump would say, I guess that makes them "smart" not total pieces of shit.
This needs a follow-up video in my opinion
There it is. Nicely done fellas. Great research. :0)
"Hairstyling fees for whatever is on his head"
That was amazing
The golden retreiver style?
Yep ... I actually giggled ...
It is his hair. Perhaps it is only one folded back a forth.
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Anyone who is surprised by this hasn't been paying attention.
trump has said for decades he tries to pay as little as he can and if you don’t know the tax laws you’re stupid 😂
No, we already knew it! Trump supporters must pay for it
@@YourDrunkStepDad Law and order President?
Mea Frenchie
What? He never said he’d close them, and that’s not his job, it’s Congress that has to do that, but they also use the loop holes. Democrats and Republicans.
Alpha Man
Trump isn’t breaking the law. In fact some of the tax laws trump uses to pay less was voted on by Biden, which is pretty amusing.
I regularly get a tax refund from my meager federal withholdings by simply taking the standard deduction. (Sometimes that's enough for a decent pair of shoes; sometimes it's a bit more.) I am not beholden to any domestic or foreign creditors. I own no real property other than the condo in which I reside, and that is outright ownership; not a mortgage.
Other than being unmarried, childless, and stuck in a low-paying job in the service industry, I have achieved what 99% of Americans hope to achieve by the time they are over 35.
When should I announce my candidacy for President?
You do make very entertaining segues from content into plugs for your sponsor.
No Christmas presents this year. Everyone's getting consulting fees!
@[Intentional Game Design] apparently not to the IRS
And Spankings.
You do realize that the IRS counts consulting fees as taxable income, right? It would be dumb to think otherwise I suppose. Don't know why I said that.
@@Farinhir this is a youtube comments section nothing is too dumb for us
When you need a consultant on what to gift for Christmas..
There is a saying in my community ‘everyone’s a businessman until caught’
Sorry, Trump didn't break any law .
The version I've heard (which comes from no later than the 1930s) defined a criminal as "a person with predatory instincts with insufficient capital to start a business."
Chuck Safe that’s not for us to decide
@@Parmarh907 Yes keep on keeping on . I do advice you mix up your source of info . Legal Eagle has a bias (There us absolutely nothing wrong with that )and it will be intellectual cowardice to hear from only one source and make up your mind .
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Here is also a discussion on this matter from a 'right leaning channel' compare and contrast and see who makes a far better case for it.
Even Al Capone feared the IRS more than actual law enforcement officers. One word Alcatraz.
Hasn't that been shut down for years?
@@sleazymeezy Yes i think so but i'm sure America has some equally bad prisons today. Alcatraz was the worst though, in its era.
Masterly exposition.. I'm heading off to read all those legal precedents you mentioned..
:)))
Tax fraud?!? In America?!? Amongst billionaires?!? WHO COULD HAVE POSSIBLY SEEN THIS COMING?!?!?
Captain Hindsight!!!!
@@zaczane I say it was captain obvious.
*Cue Seinfeld UWAHHH? noise*
I am shocked, SHOCKED that fraud is going on in this establishment.
@Zac R: I would not count a man who probably has more debt than property a billionaire.
I'm still just completely lost on how he spent 70k on hair styling services. Who would pay that much to "style" a couple hundred hairs. It's not like it ever looks well styled.
What's crazier is the IRS apparently ok'd the deduction
Only a but would pay that much. A wig is cheaper. LOL 😆
He does it himself. No shit. He also does his own makeup. No Shit.
trumps hair and him are very messy
Trump's toupee looks like one of those venomous fluffy caterpillars you can find on leaves
Watching this again a year later with the new charges is the best!
you thought it was Trump, but it was I, YOSHI!
Woah woah woah, hang on. $70,000 in hairstyling services each year, and THAT is the best they can do?! Donald needs to find a new hairdresser.
Cmon man... cut em a break... there's only so much one can do with a 50 year old squirrel corpse
@@deamonomic that caught me more off guard than anything on the internet today.
In fairness to Trump, i'm pretty sure that number is fraudulent. Is that more fair to Trump?
Yeah I think he's not paying nearly enough.
Hat's off to that hairstylist for finessing the President of The US for a $70k haircut hahah.
BTW, How's your case against the Whitehouse going?
I'm not sure if this is his lawsuit, but plugging in the phrase "lawsuit against white house classified book" got me this article from yesterday-
www.newsmax.com/politics/john-bolton-trump-lawsuit-book/2020/10/01/id/989879/
Thats not the right one. The article linked is about the profits from the book. The case Legal Eagle is supporting is for the government to declassify all the classified stuff in that book including before its security clearance.
A case like this often takes years to resolve. We likely won't hear about it until about 2022-2024.
Hi past self, this is present me. I watched this video last year and almost year to day the NY DA filed civil lawsuits on many of the things discussed in this video and much, much, more! Oh I can’t wait to see the update from this video. I am glad this attorney operates with integrity and he uses his platform to educate his views. Well, we will definitely be seeing Trump and three of his children in COURT!
Merry Christmas and a Happy New Year! 🎉
My goodness, you truly are very eloquent and have great analysis of situations. 😮
But, didn’t Trump had an account who prepared his income tax returns for him?
Can we take a moment to appreciate how well this topic was explained in this video despite the complicated nature of the topic
Oh absolutely, still went in one ear out the other, but it didn't give me a headache like most legal talk does lmao
Except it’s entirely devoid of fact. His knowledge of tax law is next to non-existent. This was a horrible video.
@@THEEJuror13 Do explain
Insidia www.bu.edu/articles/2020/three-questions-for-a-bu-tax-law-expert-on-president-trumps-taxes/
@@insidia5867 ua-cam.com/video/TFyhmvSFpkc/v-deo.html
This is the smoothest transition into an advertisement I've ever seen.
I was just about to write this exact sentence lol.
I'm shocked that he actually paid a lawyer
refreshingly unbiased, thank you
“To whatever the hell is on his head” KILLS meeeee
This may be evidence Elon isn't such a good friend after all
@@npcx-mq6cr what's the correlation?
Elon's made some significant donations to the Republican party, but apparently has not divulged his hair care secrets to the POTUS. (Compare Elon photos from university to now if you're not sure what I mean)
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“Thieves of private property pass their lives in chains, thieves of public property in riches and luxury”
- Kato the Elder
it is Cato, no K in latin. And he was RIGHT.
@Nospam Spamisham It sounds pretty silly to say the rule of law breaks down when resources are controlled in trust for the people, if the rule of law itself is a resource controlled in trust for the people. 🤔 Unless one is somehow to interpret that a privately operated justice system would necessarily be more just than a publicly operated one? 🤨 Not sure many folks would buy that. If you ask me, any system is only as good as the people who run it, doesn't really matter if it's public or private, capitalist or communist, it can be corrupted either way to self-destructive ends.
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just the fact that trump spent more than the average american’s annual salary on HIS HAIR is insane
I have to say that Donald Trump IS a type of Genius. He knows exactly how to walk that fine line between the legal and the illegal. Very few people can successfully do that, and at the same time he always manages to push the line forward for what is considered legal. He's a rare breed of grifter.
It's called lying !
His time of grifting and being a free citizen is coming to an end!
@@shellimendoza6875 LOL. Keep telling yourself that.
@@Ralphie5023 No its called taking advantage of loopholes. Its scummy, but legal.
But it was trumps accountants not trump who walked the fine line. Trump would stumble over the line and then tell everyone that there was no line, there was no stumble, in fact he doesn't even exist so no crime
Me just sitting in Denmark where the goverment goes my taxes
It’s so dumb. IRS is like... do the mathS then they’re like WE DID THE MATH YOU DID IT WRONG.... why did i have to do the math then???
@@benb6527 so they can arrest/fine you because you couldn't afford a tax accountant to do them for you, AKA oppression of the working class.
Canada finally announced they're doing this and some people are throwing a fit.
To which I say: How many other places do you have to calculate what you owe to someone? When I order a pizza, do I have to add the sum of the ingredients and electricity used to cook it?
Yeah, Portugal also has semi-automated taxes for a few years now. Deductions are automatic, so is your income (unless you are a freelancer), you just need to figure out the IRS code for exactly the hardest parts, like investments, proprieties and inheritance u.u still, not having to save all receipts for 10 years and count them by hand is already a big time saver.
My dad works in the UK and just receives a half page document with his numbers to make sure it is correct. In Portugal, even if you just have deductions and one income source, it is still 14 pages and takes about an hour or two to do.
@@Sorcerers_Apprentice I'm Canadian, they did? Finally, I'm so happy to hear that.
It's going to take a long time before I'm tired of listening to this excellent self-assigned public servant on youtube. Thank you Devin Stone. From Univ. Dar es Salaam, Tanzania.
Helen Lauer
What is a public servant ?
First note that Public and People ate two entirely separate things
That is why we have the saying " We the people' and NOT 'we the public'
You do not know what PUBLIC actually is.
1st, *are
2nd, no public servant is correct in this context. Although civil servant would have been better, you're still wrong lol.
Best skillshare segue I've heard in a long time
Not long discovered this channel and loving it.
On this topic i have a question in relation to tax and voting rights.
If your voting rights are rescinded by acts of counties/states/congress can you then use that to legally refuse to pay taxes considering that USA rebelled against British rule under the principle of "no taxation without representation"?
I wish. Sadly, it was only a slogan for independence and never written into law. Plus, at the time of Washingtons presidential election, you could only vote if you were a property-owning male
"Since at least 2015 Americans have wanted to know one thing about Donald Trump's Finances.."
Objection! We the people would also like to know if he's personally liable for hundreds of millions of dollars in debt, and whether foreign countries, big businesses or others can leverage that debt to sway the president's decisions in their favor.
Sustained.
The answer to that question is "yes, obviously so".
Pretty sure that is the case. Too bad 30+% of Americans don't care, and would probably even champion treasonous activities.
JAshley64 more curious as to why Clinton leaking information didnt put her in prison. If a private in the military did a tenth of what she did theyd be in levinworth
Pat Martin my candidate is doing illegal things, but so was the other person? What’s your point? You realize that throwing shade on Hillary for the supposed wrongdoings she did doesn’t exonerate Trump for the stuff he’s doing...right?
How he keeps getting away with committing crimes is amazing. I hope he faces legal consequences for his shady tax evasion methods
Well the dude got away from inciting a capitol riot
@@theretarbconsultant5469 probably because he didn’t incite it lmao
@Billy Tresco Don't bet of that.
@Billy Tresco I think you’re just coping after he got acquitted...
It's almost like he didn't commit crimes. Oh wait, he didn't.
"For whatever is on his head." 🤣🤣🤣🤣🤣🤣🤣😉🤣
Cheered me up!
"...loophole is usually a deliberate clause in the tax laws that legislators created to reduce ... certain people's taxes..." Yes, true. I would say that maybe only the top 10% of incomes in the country can even hope to take advantage of and/or abuse the limits of loopholes. It sure isn't the guy down the street selling necklaces made of beads off a folding table.
Went to retweet this...I must be tired.
Reminds of those ads going, if you have $3000, invest in this! Um, no, if I have $3000 at any one time, there is car maintenance or medical bills, etc.. and that's if I somehow have that amount at any given time.
The largest issue with most loopholes is knowing they exist. Tax code is impossibly large.
@@jfbeam true and it means being able to hire experts to find loopholes not illegal but ethically shady thing to do can keep their money. Even if the guy selling necklaces on the street knows he can get breaks if he spends a certain amount to get beads from u.s. suppliers if he simply doesn't have the money to.
If you have a 401 (K)odak then you are benefiting from the most famous “loophole”
“Absolute power does not corrupt absolutely, absolute power attracts the corruptible.”
― Frank Herbert
I'm willing to work hard for absolute power, but not do crimes. Corrupt people are willing to murder for power.
Intelligent people think on progress and learning, greedy focus on their immediate resources and wealth, the corrupt focus on gaining power over others or systems so they can bend them to their personal reality.
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many thanks, very interesting.