Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning

Trump’s Tax Returns

by | Oct 6, 2016 | corporate tax, simplification, Tax

The controversy swirling around Donald Trump’s tax returns is getting more and more ridiculous. First, Donald Trump is continually being audited by the IRS and many state tax agencies. There is absolutely no way his tax attorneys would ever let him release his tax returns in the middle of an audit. That is foolish and would be legal malpractice.

Hillary likes to focus on Donald Trump not releasing his tax return to avoid the fact that she and Bill Clinton have earned hundreds of millions of dollars in speaking fees since Bill’s retirement from the Presidency. The Clintons have also taken big advantage of our federal tax laws such as bear $700,000 tax deductible loss in 2015.

The facts are very simple: the Internal Revenue Code and state tax laws are far too complex. Clinton is talking about increasing taxes and making things more complex. Trump is talking about decreasing taxes. But no one is addressing tax simplification except for Libertarian party candidate Gary Johnson. It is time for the American people to realize that our tax system is broken. It is too complex, too confusing and requires too much time effort and money on the part of taxpayers to have to comply with complicated and confusing tax laws. It is time that we stop focusing on tax returns and start focusing on simplifying our tax laws and reducing taxes and compliance expenses!