If you owned a motel (say 60 rooms) and successfully ran it....you might have an profit situation of $100k a year (meaning you and wife managed it, and hired cheap help for maintenance and room-care). Then you go and hire up a fancy-pants accountant.
He would go to the depreciation tables, renovation projects (that you had bills for), and go to every 'credit' possible. Normally, you would figure the guy would pay around 30-percent of his income for federal taxes, and probably 6 to 8 percent on state taxes (depending on the state).
Well....with everything figured up.....you might be able to pay less than $10k a year on federal taxes, and probably near half that amount on state taxes (depending on the state).
(Don't get excited....the property tax bill will come, and that's probably in the $5k range for your local town)
Who writes the 80k pages of tax code and depreciation tables? Well.....your Senators and House members. Who writes the likely 4k pages of state tax code and depreciation tables? Well....state Senators and state House members.
Farmers do it. Shrimp fishermen do it. Ranchers do it. Grocery operations do it. Nightclubs do it. Casinos do it.
Trump doing something wrong? No. His accountant read the tax code, and put Trump in the best position possible.
If Nancy and Chuck are angry? Well....why not talk about tax-reform?
I'm pretty sure they will avoid that topic, and once you start making a big mess out of this....over 100k big-name folks (some Hollywood types) will present their tax paperwork, and be in the same situation.
My take on the Trump accountant? He's probably paid at least a million a year....to make sure no audit can occur on Trump's paperwork.
Meanwhile....all that Ukraine and Russian-whore money that Hunter made.....did he declare it on his taxes? Just curious.
