Just Politics

[BullNBear52]

The records requests followed recent reporting in The Times, based partly on two decades' worth of Trump's tax filings, that the president had reduced his company's income tax liability over several years by deducting $26 million in consulting fees as a business expense.

$747,622 in fees

Records strongly suggested, The Times reported, that $747,622 of those fees had been paid to Ivanka Trump, the president's daughter, through a company she owned at a time when she was also a Trump Organization executive.

If true, that wouldn't necessarily pose a problem for Ivanka Trump herself, as long as she paid income tax on the consulting payments, which she reported publicly.

It could, however, raise questions about whether the Trump Organization's related tax deductions were allowable. The Internal Revenue Service has, in the past, pursued civil penalties over large consulting fee write-offs it found were made to dodge tax liability.

Ivanka's problem which is still a civil tax issue is how she structured her consulting firm. If she claimed self employment and paid the FICA taxes (employee and employer parts no harm no foul)

If she billed daddy for professional fees and did not pay FICA taxes then she has an issue as a principal in Trump Inc.

Daddy's problem is taking the deduction for paying Ivanka in either case since it was not at arms length.

As Leona Helmsley once said Only the little people pay taxes.

http://content.time.com/time/specials/packages/article/0,28804,1891335_1891333_1891317,00.html#:~:text=Leona%20Helmsley%20will%20always%20be,a%20jury%20of%20her%20peers.