Big show of family support on the 1st day of #HunterBiden’s trial.
In addition to #POTUS’ statement, Hunter’s wife, Melissa Cohen, his sister Ashley Biden, his friend Kevin Morris, Peter Neal, who is married to Hunter’s daughter Naomi, & #FLOTUS Dr. #JillBiden are in attendance.
President #Biden will be in Wilmington, DL, w/no appearances scheduled. But he has given no indication that he would be in the courthouse — a possibility that would require considerable security arrangements.
The 3 felony charges against #HunterBiden stem from a 2018 #gun purchase in #Delaware. He separately faces 9 tax-related federal charges. The #tax case is scheduled to go to trial in Sept in Los Angeles. Hunter is accused of making 2 false statements on the paperwork to purchase the weapon, specifically when he claimed not to be addicted to or using illegal drugs, & unlawfully possessing the gun for 11 days. It’s against the law to possess a weapon while using illegal drugs.
Over the last few years the practice portion of my #legal work has slowly transitioned to consulting for other attorneys on #tax or #tech matters and let me tell you, for all the stick our profession gets we don’t make terrible clients.*
*Results not typical, your mileage may vary, see stores for details.
This week, the Wall Street Journal opinion section published an op-ed about our #tax coverage.
We don't typically comment on our newsgathering process, but this opinion essay has factual errors in the headline and in the essay that should be corrected.
#Trump faces 34 felony counts of falsifying business records in connection w/a #HushMoney payment made to a porn star to influence the 2016 election. The case could be in the jury’s hands as early as Wed.
In his follow-up to this argument about a #tax scheme, #Blanche asks why #MichaelCohen didn’t remember the amount he was meant to be owed each month & why the checks didn’t always come from #Trump. Again, even as he seeks to cast doubt on the prosecution’s argument, he reminds jurors of what the other side wants them to believe.
The prosecution alleges that #Trump was present when his employees hatched a plan to falsify the records, & did not stop them from doing so. The prosecution could even argue that Trump, as the boss, effectively approved the plan & thus caused it.
‘Everybody has not won’: trickle-down economics was an idiotic idea. How do we fix the inequality it causes?
"Forty years of the neoliberal experiment have created a world of vast and increasing inequality rationalised by the false promises of a global free market. But this can change, and it should change."
My Voice, My Choice: For Safe And Accessible #Abortion
"We are asking the European Commission to submit a proposal for financial support to Member States that would be able to perform safe termination of pregnancies for anyone in Europe who still lacks access to safe and legal abortion."
Looking for an outlet to place my more #tech-focused (and thus less #tax or strictly #law) policy writing -- anyone know of an outlet that might be amenable to a freelance contributor?
DMs are open, I'm a weekly columnist at Bloomberg Tax, contributor to Forbes Money, among some others. Looking for a tech publication that wouldn't mine hearing a tax/tech attorney and prof opine on things like the currently being contemplated #FCC AI rules, etc.
Far from meeting the expectations of #disability organizations – along with any of the scenarios presented by the PBO – the #GovernmentOfCanada has instead created a #CDB with a maximum annual support level of $2,400/person.
And despite widespread warnings about accessing the CDB through #DTC eligibility alone, the #Trudeau government has retained this #tax measure as the only way to qualify for the benefit.
So, after 1st April 2025, EVs will be charged £190/year vehicle excise duty. Does that mean I can SORN my car in March and immediately retax it to get a free 12 month VED?
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Can anyone recommend a good tax lawyer or accountant who can assist an individual with an 83(b) election where the person seeking the election is a U.S. resident but will be working for a Canadian startup?
Feel free to DM recommendations. Thanks in advance!
#Trump May Owe $100 Million From #DoubleDip Tax Breaks, Audit Shows
A previously unknown focus of an #IRS audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on his #Chicago skyscraper.
The 92-story, glass-sheathed skyscraper along the #Chicago River is the tallest &, at least for now, the last major construction project by #Trump. Through a combination of cost overruns & the bad luck of opening in the teeth of the Great Recession, it was also a vast money #loser.
But when Trump sought to reap #tax benefits from his losses, the #IRS has argued, he went too far & in effect wrote off the same losses twice.
The first write-off came on Trump’s #tax return for 2008. With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his #debt on the project meant he would never see a profit. That move resulted in #Trump reporting losses as high as $651 million for the year, The Times & ProPublica found.
There is no indication the #IRS challenged the initial claim,…that lack of scrutiny surprised #tax experts…. But in 2010, #Trump & his tax advisers sought to extract further benefits from the #Chicago proj, executing a maneuver that would draw yrs of inquiry from the IRS. First, he shifted the company that owned the tower into a new partnership.…like moving coins from one pocket to another. Then he used the shift as justification to declare $168M in additional losses over the next decade.
…The outcome of #Trump’s dispute could set a precedent for #wealthy people seeking #tax benefits from the laws governing partnerships. Those #laws are notoriously complex, riddled with uncertainty & under constant assault by lawyers pushing boundaries for their clients. The #IRS has inadvertently further invited aggressive positions by rarely auditing partnership tax returns.
Beyond the 2 episodes under audit, reporting by The NYTimes in recent years has found that, across his business career, #Trump has often used what experts described as highly aggressive — & at times, legally suspect — accounting maneuvers to avoid paying #taxes. To the 6 #tax experts consulted for this article, Trump’s #Chicago accounting maneuvers appeared to be questionable & unlikely to withstand scrutiny.
"Welcome to the #Sunak and #Starmer show and welcome to the next four, five, six or seven months of your life."
BBC
I can reveal that neither of them will be presenting the policy choices that are needed on the face of multiple symptoms of systems #collapse.
Instead do take a look at and promote the #GettingReal policy portfolio. https://gettingreal.org.uk
"Mansion" taxes are probably not going to ameliorate inequality anytime soon. Tying much-needed public services, like incentivizing the building of affordable housing, to revenue generated from them is not a good idea.
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