President Trump’s tax documents were released to ProPublica using New York’s FOIA law and ‘experts’ are already claiming there is evidence of potential fraud.
This is precisely why the Democrats are fighting to get Trump’s tax returns – more fodder for the media.
ProPublica reviewed tax documents on 4 of Trump’s properties in New York and allege there are discrepancies involving 40 Wall Street and the Trump International Hotel and Tower.
The documents show Trump’s businesses in 2017 appeared more profitable to lenders and less profitable to the IRS and tax officials — this is standard operating procedure, but leftie ‘experts’ are claiming the inconsistencies are “versions of fraud.”
According to the documents obtained by ProPublica, profits and occupancy percentages for two of Trump’s Manhattan buildings gave a lender different figures than it gave to tax officials.
Trump’s 2017 tax document for his building on 40 Wall Street reported his company spent $744,521 on annual property insurance but the loan documents reported his companies spent $457,414 on property insurance that year.
Via ProPublica:
Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.
For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.
Lenders like to see a rising occupancy level as a sign of what they call “leasing momentum.” Sure enough, the company told a lender that 40 Wall Street had been 58.9% leased on Dec. 31, 2012, and then rose to 95% a few years later. The company told tax officials the building was 81% rented as of Jan. 5, 2013.
Certainly there are legitimate reasons for the discrepancies on the tax docs vs. loan docs — President Trump’s finances and taxes are so complex that he has a team of lawyers and tax experts who prepare his taxes and provide documents to lenders.
Trump is always under the microscope and is always being audited by the IRS but the rabid Democrat-media-complex is fighting to get their hands on his tax documents in order to run another smear campaign against Trump.
Trump is currently fighting to block Democrat lawmakers and crooked Manhattan DA Cy Vance from obtaining the last 8 years of his tax returns.
Dear Reader - The enemies of freedom are choking off the Gateway Pundit from the resources we need to bring you the truth. Since many asked for it, we now have a way for you to support The Gateway Pundit directly - and get ad-reduced access. Plus, there are goodies like a special Gateway Pundit coffee mug for supporters at a higher level. You can see all the options by clicking here - thank you for your support!
