Posted by Timothy Ross on January 1, 2023 at 10:28am
Wow, there is a lot there ! Click on the PDF below and you can download the 1+Gigabite of data for your own review. This husband and wife are well diversified. If you think your taxes are complicated, there not. Compared to his, they ar probably very simple. However, reveiwing his returns can give you many perspectives on the challanges of being in business, the role of diversification and many others valuable insights.
“I predict that Donald Trump’s tax returns are going to show that he made a lot of money, but didn’t pay a lot of taxes because he took advantage of all of the loopholes in the tax laws passed by the very people who are releasing his tax returns,” Stone wrote. “This makes him smart, not dumb.”
The tax returns do, indeed, support that view.
Trump Tax Return Details
The documents (pdf) indicate that Trump’s businesses at times reported significant losses on tax returns, which can be used to offset tax liabilities.
, these are Shaggy Manes, they are delicious, ( I was told they were no good when I was young, so I ignored them all my life, did some research and they are a good find, easy to identify, tasty ) and do not last long, they will turn inky quickly, ( you can make a dye from them ) they would need to be eaten or preserved quickly after harvest as they decompose quickly. I fried the last ones I found, I have 2 spots that I visit on our place in Tincap, just thinking, I put gravel on the one spot this fall, so that might be rough next year, the other spot was near the apple tree , ooooh that's good, I wasn't thinking when I laid that gravel down out back. Little tip, one should make it a policy to cook your mushrooms, that cooking process makes them safer and potential for an upset tummy goes way down, eating raw can have its challenges. Also, don't mix your mushrooms, if you have a problem, you want to know which type has that effect on you. If any doubt don't consume, you can pick and study, even if you don't end up eating it, you will learn, you don't want to tax your system. this reminds me of an old saying in taxes, if in doubt , deduct, I would still be careful, you have to be reasonable and it's best to seek some professional guidance along the way ( one of my core disciplines that pays the bills,) It's always better to do it under the guidance of an experienced professional with a good supportive team, continuity, responsive, bigger refunds, less tax overall, strategy, audit proofing, peace of mind, just a few things that should be considered, I'm not just a fun fund guy, Tim the Tax Man , that's why we have developed a family office, one stop cover the financial bases, there is a lot to think about, it's all intertwined
Like taking a spore print, we like to check the assessment of a persons tax return, it reveals a lot that is important to your tax health
In case your compliance cruising, full stop, see, read, digest disclosure
Tax Disclosure, if in doubt, deduct, however, count the cost, ( note you do not have to write off any or all of your expenses) make sure it's right, makes sense, seek professional help for that determination and preparation, heed their advice, make that investment, it's not really a cost, it can save and make you money either way, if they say no, don't, as you are responsible to them and your country to do it right, see the notice to reader in the engagement letter, plus, note, you do sign off, and you do acknowledge, that it is a serious offence to make a false return, and you will certify that the information given on your return and in any documents attached to it is correct and complete and fully discloses all your income, and there is more related to various acts that provide for the imposition and collections of taxes and duty's, with failure to compliy ressulting in interest payable, penalties or other actions ( it's those other actions that could and would mess with your peace of mind ) , so let's do it right ok.
Mushroom Disclosure, if in doubt, don't eat , it's that simple.
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Timothy Ross, Family Advisor, CEO & Founder, Brock Shores Financial
Mutual Funds offered through PEAK Investment Services Inc.
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Brock Shores Financial / Timothy Ross & Associates, Family Office Providing Omega Stewardship 4502 Airport Road – Tincap, GTA Professional Center, Elizabethtown, Ontario K6T 1A2 613-345-0016 Office 613-213-4625 Cell/Text 613-345-5231 Fax advisor@timothyross.com Executive Assistant: Heather Kiley assistant@timothyross.com Office Manager: Megan Ross megan@timothyross.com Mission - Vision – Core Values
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