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<blockquote data-quote="SlugSlinger" data-source="post: 3449027" data-attributes="member: 7248"><p>Tax avoidance is legal. Tax evasion is illegal. The IRS is very specific about this. Democrats want you to think tax avoidance is illegal when it benefits their agenda.</p><p></p><p>This is all based on what-ifs below. We actually don't know if the article is factual or not since we don't have taxes.</p><p></p><p>Capital project accounting is very different than income tax accounting. Based on the accounting of the consulting fees, Ivanka would have likely shown any compensation as income over the years the projects she was consulting for were being executed.</p><p></p><p>The fees paid by the company executing/building the hotel projects would not hit the income statement as the media wants you to believe. This means they are not deducted as an expense on the tax return in the year they are incurred. These types of fees would be capitalized on the balance sheet. This means the fees would be depreciated over the life of the asset. This accounting lines up the expenses with the income from the asset over the life of the asset. </p><p></p><p>If you have ever wondered why project management makes high wages, this is one reason. The fees do not go directly to the "bottom line".</p><p></p><p>A fun accounting fact: What sunk WorldCom was they were capitalizing monthly recurring expenses that should have hit the income statement and reducing their income. They were overstating their income.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3449027, member: 7248"] Tax avoidance is legal. Tax evasion is illegal. The IRS is very specific about this. Democrats want you to think tax avoidance is illegal when it benefits their agenda. This is all based on what-ifs below. We actually don't know if the article is factual or not since we don't have taxes. Capital project accounting is very different than income tax accounting. Based on the accounting of the consulting fees, Ivanka would have likely shown any compensation as income over the years the projects she was consulting for were being executed. The fees paid by the company executing/building the hotel projects would not hit the income statement as the media wants you to believe. This means they are not deducted as an expense on the tax return in the year they are incurred. These types of fees would be capitalized on the balance sheet. This means the fees would be depreciated over the life of the asset. This accounting lines up the expenses with the income from the asset over the life of the asset. If you have ever wondered why project management makes high wages, this is one reason. The fees do not go directly to the "bottom line". A fun accounting fact: What sunk WorldCom was they were capitalizing monthly recurring expenses that should have hit the income statement and reducing their income. They were overstating their income. [/QUOTE]
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