Mileage Psycho Posted September 20, 2016 Share Posted September 20, 2016 And beside JT the rest of you guys don't want to see his tax returns.......odd. Quote Trump used $258,000 from his charity to settle legal problems Donald Trump spent more than a quarter-million dollars from his charitable foundation to settle lawsuits that involved the billionaire’s for-profit businesses, according to interviews and a review of legal documents. Those cases, which together used $258,000 from Trump’s charity, were among four newly documented expenditures in which Trump may have violated laws against “self-dealing” — which prohibit nonprofit leaders from using charity money to benefit themselves or their businesses. In one case, from 2007, Trump’s Mar-a-Lago Club faced $120,000 in unpaid fines from the town of Palm Beach, Fla., resulting from a dispute over the size of a flagpole. In a settlement, Palm Beach agreed to waive those fines — if Trump’s club made a $100,000 donation to a specific charity for veterans. Instead, Trump sent a check from the Donald J. Trump Foundation, a charity funded almost entirely by other people’s money, according to tax records In another case, court papers say one of Trump’s golf courses in New York agreed to settle a lawsuit by making a donation to the plaintiff’s chosen charity. A $158,000 donation was made by the Trump Foundation, according to tax records. The other expenditures involved smaller amounts. In 2013, Trump used $5,000 from the foundation to buy advertisements touting his chain of hotels in programs for three events organized by a D.C. preservation group. And in 2014, Trump spent $10,000 of the foundation’s money for a portrait of himself bought at a charity fundraiser. Or, rather, another portrait of himself. Several years earlier, Trump had used $20,000 from the Trump Foundation to buy adifferent, six foot-tall portrait. If the Internal Revenue Service were to find that Trump violated self-dealing rules, the agency could require him to pay penalty taxes or to reimburse the foundation for all the money it spent on his behalf. Trump is also facing scrutiny from the office of the New York attorney general, which is examining whether the foundation broke state charity laws. More broadly, these cases also provide new evidence that Trump ran his charity in a way that may have violated U.S. tax law and gone against the moral conventions of philanthropy. “I represent 700 nonprofits a year, and I’ve never encountered anything so brazen,” saidJeffrey Tenenbaum, who advises charities at the Venable law firm in Washington. After The Post described the details of these Trump Foundation gifts, Tenenbaum described them as “really shocking.” “If he’s using other people’s money — run through his foundation — to satisfy his personal obligations, then that’s about as blatant an example of self-dealing [as] I’ve seen in a while,” Tenenbaum said. The Post sent the Trump campaign a detailed list of questions about the four cases, but received no response. The New York attorney general’s office declined to comment when asked whether its inquiry would cover these new cases of possible self-dealing. Trump founded his charity in 1987 and, for years, was its only donor. But in 2006, Trump gave away almost all of the money he had donated to the foundation, leaving it with just $4,238 at year’s end, according to tax records. Then, he transformed the Trump Foundation into something rarely seen in the world of philanthropy: a name-branded foundation, whose namesake provides none of its money. Trump gave relatively small donations in 2007 and 2008, and afterward: nothing. The foundation’s tax records show no donations from Trump since 2009. Its money has come from other donors, most notably pro-wrestling executives Vince and Linda McMahon, who gave a total of $5 million from 2007 to 2009, tax records show. Trump remains the foundation’s president, and he told the IRS in his latest public filings that he works half an hour per week on the charity. The Post has previously detailed other cases in which Trump used the charity’s money in a way that appeared to violate the law. In 2013, for instance, the foundation gave $25,000 to a political group supporting Florida Attorney General Pam Bondi (R). That gift was made around the same time that Bondi’s office was considering whether to investigate fraud allegations against Trump University. It didn’t. Tax laws say nonprofits such as the Trump Foundation may not make political gifts. Trump staffers blamed the gift on a clerical error. After The Post reported on the gift to Bondi’s group this spring, Trump paid a $2,500 penalty tax and reimbursed the Trump Foundation for the $25,000 donation. In other instances, it appeared that Trump may have violated rules against self-dealing. In 2012, for instance, Trump spent $12,000 of the foundation’s money to buy a football helmet signed by NFL quarterback Tim Tebow. And in 2007, Trump’s wife, Melania, bid $20,000 for the six-foot-tall portrait of Trump, done by a “speed painter” during a charity gala at Mar-a-Lago. Later, Trump paid for the painting with $20,000 from the foundation. In those cases, tax experts said, Trump was not allowed to simply keep these items and display them in a home or business. They had to be put to a charitable use. Trump’s campaign has not responded to questions about what became of the helmet or the portrait. The rest of the story: http://www.msn.com/en-us/news/politics/trump-used-dollar258000-from-his-charity-to-settle-legal-problems/ar-BBwoEhi Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 20, 2016 Platinum Contributing Member Share Posted September 20, 2016 Wonder if he broke any laws. Z - what do you think? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted September 20, 2016 Platinum Contributing Member Share Posted September 20, 2016 (edited) He gave $3.7 million to his own foundation. Just because its a settlement doesn't mean it wouldn't be tax deductible as long as its going to a non-profit. Edited September 20, 2016 by Highmark Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted September 20, 2016 Author Share Posted September 20, 2016 Just now, Highmark said: He gave $3.7 million to his own foundation. I also would use my own tax foundation as a tax shelter, but I would not use the foundation money to cover my private business expenses as that's illegal. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted September 20, 2016 Share Posted September 20, 2016 2 minutes ago, SnowRider said: Wonder if he broke any laws. Z - what do you think? Wonder if he broke any laws. Z - what do you think? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted September 20, 2016 Platinum Contributing Member Share Posted September 20, 2016 (edited) 8 minutes ago, Mileage Psycho said: I also would use my own tax foundation as a tax shelter, but I would not use the foundation money to cover my private business expenses as that's illegal. I'd like to see the details of the settlement. It may have been written that it could come from his Foundation. One of the key words is "settlement." He may have then directly compensated the Foundation. You don't know the details. Edited September 20, 2016 by Highmark Quote Link to comment Share on other sites More sharing options...
racer254 Posted September 20, 2016 Share Posted September 20, 2016 12 minutes ago, Mileage Psycho said: In another case, court papers say one of Trump’s golf courses in New York agreed to settle a lawsuit by making a donation to the plaintiff’s chosen charity. A $158,000 donation was made by the Trump Foundation, according to tax records. What is wrong with this? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted September 20, 2016 Platinum Contributing Member Share Posted September 20, 2016 3 minutes ago, Mileage Psycho said: I also would use my own tax foundation as a tax shelter, but I would not use the foundation money to cover my private business expenses as that's illegal. I wouldn't but maybe I should. Quote Link to comment Share on other sites More sharing options...
JEFF Posted September 20, 2016 Share Posted September 20, 2016 That damn football helmet... 1 Quote Link to comment Share on other sites More sharing options...
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