If you ever worked for a "for profit" company, there is a good chance that if you looked at their tax returns you would see a NOL at some point. It is a legal tool allowed by the IRS to help a company limit their tax liability going forward. Perfectly legal and it allows companies to reinvest their funds in their employees or growth instead of paying Uncle Sam. It happens in the real world.
Your next lesson will be on 1031 Exchanges
Anyone who stays in here and pounds a keyboard all day long would have no clue what either term means. It kills me that this kid from Ak spews his "classroom theory" from some unknown university. Don't you think that if he really knew what he was talking about he would be employed....somewhere. Instead he is in here 24/7, causing trouble.
My guess would be that Vit Nation is a non profit with one or two employees. If you need some help with your 990 let me know.
He never sees his tax returns until he signs them. It's his CPA's job to find every possible legal loophole to lessen his tax burden.
When you had to report your $1 million casino winnings did you have a CPA file your returns? If you did, he looked for every possible way to lessen your tax burden. Isn't that what you expected them to do?
Like Trump or not, he employs a lot of people. He would employ a lot less if his CPA's didn't seek every possible deduction. The only sure way to make sure everyone pays their fair share would be a flat tax and that will never happen...at least not in my life time.
No you don't silly. His companies pay more in employer taxes (social security, medicare, unemployment, etc.) per year than you will pay in income taxes in your lifetime. His big NOL is so he doesn't take a billion loss and pay zero taxes one year, and then pay 100 million in taxes on 300 million on taxable income the next year. That would be paying 100 million in taxes over 2 years on roughly -700 million in income which isn't fair.
Overall he has paid many millions in taxes, but he is spreading it out over several years legally. Of course it's very hard to understand to the logically challenged such as yourself who can only see he paid 0 income taxes last year and they paid $500 so OMG WTH they pay more taxes than Trump! azzkick(&^
1)They were released
2)He knows underinformed people will misinterpret it
Doesn't matter now anyway, he's fuked. All these women coming out of the woodwork accusing him of stuff (which he probably did) he's lost the female vote for good unless a video surfaces of Hillary sacrificing a 12 year old girl in a satanic lesbian ritual (the only copy of that was destroyed)
He fucked himself. By "going there" about Bill Clinton, which was always going to be a YUUUUUUUGE Net negative for him. But the idiot didn't realize how much of a net Negative.
He should release his taxes for the last 40 years, like Hillary did. Might be the only thing that helps him now. Unless, of course it shows all the nefarious shit that is the reason he didn't release them in the first place.
