Quote:
Originally Posted by thebmw
Very true. But technically we voted them in whoever they are. Both political parties are complicit here I think. Although if I remember correctly, I think Trump was really pissed off at Amazon for this.
|
Trump shouldn't be pissed at Amazon as he did the same thing. If you have losses you can carry them forward. I don't blame Amazon for taking advantage of whatever is available to them in the tax code.
https://www.npr.org/2016/10/02/49630...s-for-18-years
Quote:
The forms show that in 1995, Trump claimed a business loss of nearly $916 million. Much of that likely resulted from Trump's business losses in previous years, including money-losing casinos in Atlantic City and the Trump Shuttle airline.
At the time, the tax code allowed such losses to be "carried forward" up to 15 years, offsetting income and reducing or even eliminating tax liability and carried backward on income up to 3 years prior. (The allowance has since been changed to carry forward 20 years and carry back 2 years.) The code is particularly flexible when it comes to real estate professionals like Trump.
|