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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDT Jr. Concedes Felony Count In Indictment Against Daddy's Company Is True
Donald Trump Jr. has come right out and acknowledged that one of the counts in the 15-felony indictment against his dads Trump Organization and its chief financial officer, Allen Weisselberg, is true.
In a rambling 13-minute video posted to Facebook on Thursday, Junior said that, yes, his father, former President Donald Trump, paid the private school tuition for Weisselbergs grandkids. My dad did that, he said, because hes a good guy.
MSNBCs Ari Melber said on The Beat Friday that Don Jr. may have made things worse for the Trump Organization and Weisselberg with his remarks. This is about off-the-books tax crime allegations, Melber said. (Check out the video up top.)
A count in the indictment filed Thursday against Weisselberg and the former presidents business details the tuition payments made in lieu of an equal portion of Weisselbergs salary as a part of an alleged wide-ranging scheme to defraud the government of taxes owed by both the Trump Organization and Weisselberg, by paying the CFO some of his earned compensation off the books.
https://www.yahoo.com/huffpost/donald-trump-jr-concedes-felony-130003354.html
captain queeg
(10,238 posts)Because they are so smart.
RANDYWILDMAN
(2,675 posts)But he wrote off the $$$$ to reduce the tax bill of Trump org, hence a crime thanks idiot boy
If this world was just Trump would serve time for this crap, supposedly nothing happens at his company without his say so, but this world is not just...
BootinUp
(47,179 posts)tanyev
(42,601 posts)A guy who pays tuition as part of a tax avoidance scheme is a criminal.
Hoyt
(54,770 posts)an issue.
On the other hand, if trump said "Weisselberg, your salary is $1,000,000," and Weaselberg as CFO said, "Well, hell, I'll pay myself $500,000 in W2 salary and another $500,000 in checks to grandkid's education, his condo, etc., trump seems less culpable.
It appears to me that is what has happened here, at least on what has been released including the complaint against Weaselberg. It's certainly what trump will claim.
If true, Weisselberg should have paid the taxes on it. Further, if that is what happened and trump is more or less isolated from the matter, the company probably owes some Medicare tax, maybe some unemployment tax, and a few other minor taxes, but not much else.
Don't think this will sink trump, nor is it an admission of anything, but we can hope.
NJCher
(35,716 posts)your assessment of this situation is incredibly naive.
The Weasel doesn't decide what he's going to get paid. Trump decides that. He is known for micromanaging and even signs a lot of the checks.
"Weisselberg should have paid taxes on it."
Hoyt
(54,770 posts)to pay it -- a portion in W2 wages and a portion in perks that Weaselberg and his controller likely dreamed up to minimize their taxes.
That's on Weaselberg, and trump can get away with saying Weaselberg determined how to pay his own salary, unbeknownst to trump. Unless someone has some good evidence, gonna be hard to prove otherwise.
Weaselberg -- and not trump -- kept the spreadsheets on the payroll, unless you believe trump can handle a spreadsheet.
Sounds like you are the naïve one.
absolutely not. That would never work that way.
Again, you are incredibly naive.
Hoyt
(54,770 posts)don't have to get audited.
Why the heck do you think Weaselberg was charged? Read the Complaint against him, and learn something.
NJCher
(35,716 posts)if the IRS decides they don't pass the smell test.
Anyway, go ahead and be naive. I'm certainly not spending any more of my time bringing you up to speed.
I would, however, like to make it perfectly clear to readers on this thread that you don't know what you're talking about.
Hoyt
(54,770 posts)Sounds to me that you don't know what you are talking about.
As proof, I offer trump has not been indicted. I wish I were wrong.
And, this is what the indictment says: "Weisselberg intentionally caused the tuition payments be omitted from his personal tax returns, despite knowing that those payments represented taxable income and were treated as compensation by the Trump Corporation in internal records."
Scottie Mom
(5,812 posts)Why would they not be audited? From what Ive seen, they are often the targets for audits. I had a close friend who was an enrolled agent. Those small closely held companies used him all the time. Hes been dead a number of years. Have things changed?
Hoyt
(54,770 posts)Totally agree that anyone can get audited by tax authorities. But I'm not talking about tax authorities.
My point was, that no one was looking at Weaselberg and his Controller buddy and how they handled the reporting of income and payment of taxes. The reason they weren't looking is because there is no requirement for a small privately owned company to have a CPA firm audit their records. It's a good idea to do it, but many don't.
pnwmom
(108,990 posts)It's a privately owned company worth more than a billion, encompassing hundreds of other companies.
pnwmom
(108,990 posts)And Trump personally signed the NYC lease that said only Weisselberg and his family would live in the apartment.
And the Trump corporation itself received tax benefits by reporting some employee compensation to Weisselberg as non-employee compensation. (Which it also did when it paid Ivanka as both an employee and a non-employee.)
Hoyt
(54,770 posts)The benefits to the corporation are minimal-- employer's share of Medicare tax and a few other minor matters.
With Ivanka, if she reported the income as a 1099 for consulting work beyond her "day job," there isn't much of a problem in total taxes paid to feds, state, city. Now, if she didn't report that income, she's on the hook for at lease several hundred thousand dollars, penalties, and may worse. She'll look good in silk orange.
pnwmom
(108,990 posts)for the money they deemed non-employee compensation. Whether you think it's "minimal" or not, they saved it -- and probably saved similar amounts on other employees who were given non-employee compensation. All these "minimal" savings add up.
And, yes, all the articles I saw mentioned Trump paying for tuition with personal checks. The article below also contains a copy of the indictment itself.
https://www.cbsnews.com/live-updates/trump-organization-indicted-allen-weisselberg-tax-fraud-scheme/
From 2012 to 2017, Trump Organization employees, including Weisselberg, arranged tuition expenses to be paid for his family members at a school in Manhattan. The tuition was paid by personal checks first from the account of Mr. Trump, who signed them, and later from the account of the Donald J. Trump Revocable Trust.
Hoyt
(54,770 posts)indictment said:
"Weisselberg intentionally caused the tuition payments be omitted from his personal tax returns, despite knowing that those payments represented taxable income and were treated as compensation by the Trump Corporation in internal records."
Weaselberg is the guy on the hook, unless they can prove trump was part of the scheme.
pnwmom
(108,990 posts)where it mentions personal checks drawn on the account of and signed by Donald Trump.
I can't copy and paste from the indictment itself, but read page 7.
Hoyt
(54,770 posts)The Payment of Tuition Expenses for Weisselberg's Family Members
"9 . Beginning in 2012, one of Weisselberg's family members began attending a private school in Manhattan. Beginning in 2014, a second Weisselberg family member began attending the same private school. From 2012 through 2017 , and as part of the scheme to defraud, Trump Corporation personnel, including Weisselberg, arranged for tuition expenses for Weisselberg's family members to be paid by personal checks drawn on the account of and signed by Donald J. Trump, and later drawn on the account of the Donald J. Trump RevocableTrust dated April 7, 2014.
"The payment of tuition expenses for Weisselberg's family members constituted employee compensation and taxable income to Allen Weisselberg and was treated as part of Weisselberg's annual compensation in internal records maintained by the Trump Corporation.
"However, the indirect compensation in the form of tuition payments was not included on Weisselberg's W -2 forms or otherwise reported to federal, state, or local tax authorities, and no income taxes were withheld by the corporate defendants in connection with the tuition payments. Weisselberg intentionally caused the tuition payments be omitted from his personal tax returns, despite knowing that those payments represented taxable in come and were treated as compensation by the Trump Corporation in internal records.
"Because the indirect compensation in the form of tuition payments was not reported by the corporate defendants to the tax authorities, was not subjected to income tax withholding by the corporate defendants, and was not included by Weisselberg on his personal tax returns, he did not pay taxes on approximately $359,058 in compensation he received during the tax years 2012 through 2017."
__________________
There is nothing in the indictment that implicates trump, unless they have proof he sat down with Weaselberg and worked out the scheme. I don't doubt trump is capable of doing that, but unfortunately proof is required. It appears to me that Weaselberg and perhaps the Controller ran this scheme.
NJCher
(35,716 posts)Yeah, maybe if it happened once.
But it didn't happen once. It happened over and over and over again until the benefit reaches the millions. It lowers the gross operating income. It's not just a matter of Medicare tax. What planet are you living on? Everybody knows this. Well, except for you, obviously.
You want an example of Trump writing a check? Just go over to youtube and look for Michael Cohen clips. He mentions this many times. However, he is not the only one. There are other credible family sources who relate this, among them Mary Trump and other relatives and people knowledgeable about the business modus operandi.
Hoyt
(54,770 posts)Weaselberg was supposed to pay taxes on unreported income. The employer's share of FICA is likely not an issue because W2 wages were likely more the Social Security cap.
Have you ever been paid as a 1099 consultant? The company deducts the payment against income. But, it's the self-employed individual's responsibility to pay ALL the taxes. While this situation is slightly different, the tax implications to the organization are somewhat similar.
What you guys are missing is that the indictment specifically says that Weaselberg -- and likely his controller -- are the ones who came up with this scheme to hide income. They were responsible for the income and other taxes by perpetuating the scheme.
The scheme did help the trump organization but only to the extent that the employer's share of Medicare and maybe a few other taxes weren't paid. I'm guessing about 2% of $1.7 million that Weaselberg's scheme hid. What's that, $34,000 at most?
And -- unless someone can prove trump was part of the scheme -- I don't think this is going to get trump. Understand that's not what I want, but I think it is the way it is. Otherwise, trump would have been indicted as well.
pnwmom
(108,990 posts)like any good mob boss, in tying his underling into criminal activity along with him, to earn their loyalty and prevent them from squealing.
Hoyt
(54,770 posts)devise a scheme to reduce your personal taxes, you have my approval and I'll do whatever I can to help." But the indictment doesn't say that.
If in fact, trump was involved in the scheme, the other benefit to the corporation is that trump would have paid Weaselberg a salary of say $1,000,000, but Weaselberg essentially made out as if he made $1.3 Million. Thus the Organization would have saved a substantial sum. [I'm just making up the numbers because I don't know what Weaselberg's salary was.]
However, I see no evidence of that other than everyone -- including me -- knows trump is a cheat, among other despicable things. It's going to take more evidence than that to indict/convict him.
pnwmom
(108,990 posts)that checks for the tuition came out of Trump's account and were signed by him?
Page 7 of the indictment.
And surely Trump had to know that he was paying Weisselberg compensation of $940K a year. So why, when Trump reviewed financial summaries for his signature (which he did), did Trump not object to the much lower figure stated in official documents?
If Weisselberg CHEATED Trump with sneaky financial maneuvers Trump wasn't aware of, why isn't Trump screaming this to the heavens?
Hoyt
(54,770 posts)how Weaselberg was actually writing the checks - say $ $500,000 through the payroll system and another $500K as lease payments, tuition, etc.
I doubt trump can even read a financial statement, Weaselberg and Controller use a signature stamp or digital signature.
Weaselberg didnt cheat trump, he cheated federal, state, and local tax authorities. He took what trump authorized as salary, but finagled it to cheat tax authorities.
I dont know how else to spell it out to you. If we find new evidence that trump masterminded the scheme, then trump might have a problem.
pnwmom
(108,990 posts)There has been no indication anywhere that he used a signature stamp or digital signature.
AND HE'S NEVER CLAIMED THAT HE DID. Instead of blaming other people, which is his usual style, he just says that this kind of cheating is normal and everyone does it.
And of course he can read a financial statement. He's even testified in court about approving his financial statements, so he's stuck with them, whether he likes them now or not.
Are you looking for ways to excuse Trump? It sure seems that way.
Hoyt
(54,770 posts)and I suspect his personal money is commingled. I bet trump hasnt actually written a check in years.
No, I am not trying to excuse trump. I wont the miserable POS to go away.
Im just burnt out from folks thinking every little thing mislabeled a bombshell is going to bring trump down. It didnt before he was elected, it didnt during his term, and this wont either unless there are new revelations..
Keep dreaming. Heck, maybe Fitzgerald will comeback and indict George war bush.
pnwmom
(108,990 posts)with his own signature. And this was some years ago, but it's still part of the "scheme."
I understand no one wants to get their hopes up, but don't fall for the Trump P.R.
He's in Leona Helmsley, Bernie Madoff territory now. They went down for stuff like this.
Hoyt
(54,770 posts)trump has not been indicted. Dont think he will be because evidence to date indicates Weaselberg and maybe the Contoller pulled this off.
Bookmark this page. If trump is indicted, come back and remind me I was wrong. Ill gladly eat crow. Heck Ill eat crow dung.
BTW: indictments often leave out details like whether the check was signed with a stamp which was likely in possession of Weaselberg and the Controller or trump pulled out a checkbook, wrote the date, payee, manage to write out the amount in words, etc., and then scrawled his signature.
Not falling for trump PR, the evidence and fact trump has not been indicted speaks for itself.
pnwmom
(108,990 posts)Why is he, instead, saying that these kind of benefits were just SOP?
The fact that Trump hasn't been indicted YET doesn't mean he won't be. That's not how typical mob prosecutions work, and this is like a mob prosecution.
pnwmom
(108,990 posts)This DA isn't suggesting that anyone else did this with a stamp.
https://www.businessinsider.com/manhattan-da-trump-signed-tuition-checks-allen-weisselberg-kids-2021-7
Carey Dunne, one of Manhattan district attorney's top deputies, also referenced the tuition payments during Thursday's court appearance. "The former CEO signed, himself, many of the illegal compensation checks," he said, referring to Trump.
NJCher
(35,716 posts)Burnt out...folks... Fitzgerald.
Youve bought the trump propaganda and youre here to sell it but nobodys buying.
Tonight there are many articles that have been published by credible sources that support what Im saying. Tomorrow I will post them and no I will not settle for you eating mere crow dung.
For one, trumps son has already publicly acknowledged his father signed the check for the tuition.
Major faux pas.
Hoyt
(54,770 posts)NJCher
(35,716 posts)and of course you are doing a revision on your claims, skipping over the basis for your claims, about which you have made mistakes and which show you have only a sketchy comprehension of the facts.
And of course you will not educate yourself, but for others reading this thread, this article does a good job of explaining exactly what they did:
https://www.democraticunderground.com/100215593933
p.s. and for anyone who cares, both Trump and his idiot son have self-incriminated by running their mouths over the last few days. They have admitted what they've done and tried to justify it but this will make no difference to the tax people.
https://www.democraticunderground.com/1017665193
Hoyt
(54,770 posts)checks, Weaselberg and Controller prepared payroll tax withholding reports, Weaselberg is the one indicted for tax evasion, etc.
When the indictment says the trump organization kept separate books/spreadsheets, it was Weaselberg acting on behalf of trump organization, keeping those records. It wasn't trump or they would have indicted him. Hope I'm wrong.
It likely won't get to trump. But, hey, dream on.
NJCher
(35,716 posts)there is another article out there that shows how this is going to be decided without weis. being much of an influence. It's all about the paperwork and whether w kept it or not makes no difference.
However, I'm not looking this stuff up for you. It's incumbent upon you to be well informed and stop coming to these threads and making erroneous claims.
In any event, the mistake you are making is that "Trump isn't indicted." First, most legal experts acknowledge this is just the beginning. Second, if the organization/Weissel. is convicted, there will be no bank loans because banks don't loan money to such organizations.
Hoyt
(54,770 posts)There are hundreds of articles out there on how trump would be removed from office because he colluded with Russians, paid hush money to porn stars, Cohen, Flynn and Manafort would flip on him, Mueller would take him down, Ukraine would be his downfall, theyd get him in impeachment, extorting votes from state officials, Jan 6 insurrection would nail him, and much more.
If those didnt bring him down, a scheme run by trumps CFO and Controller likely wont either. Sorry, I wish it would. But it wont.
NJCher
(35,716 posts)in reading comprehension.
At any rate, I am through wasting time with you.
Hoyt
(54,770 posts)There are hundreds of articles out there on how trump would be removed from office because he colluded with Russians, paid hush money to porn stars, Cohen, Flynn and Manafort would flip on him, Mueller would take him down, Ukraine would be his downfall, Epstein would get him, theyd get him in impeachment, extorting votes from state officials, Jan 6 insurrection would nail him, and much more.
If those didnt bring him down, a scheme run by trumps CFO and Controller likely wont either. Sorry, I wish it would. But it wont.
Skittles
(153,185 posts)like he did for daddy's gold-digging porn star
https://www.theguardian.com/us-news/2019/feb/27/donald-trump-jr-stormy-daniels-payment-michael-cohen-testimony-hearing-latest
Hoyt
(54,770 posts)shutting up the porn stars with hush money. Never did understand that one.
RockRaven
(14,990 posts)that it will go away, or limit the damage.
News flash: the public's opinion of the deed in question does not matter.
The legislature decides what is or isn't a big deal, what is or isn't a good or bad thing when they write the laws. The public (I.e. the jury) is only going to be involved to the extent of establishing the facts of the deed -- which this knucklehead just conceded -- and applying to those facts the laws already existing (jury nullification is NOT going to happen in a corporate/tax fraud/conspiracy case like this).
Grokenstein
(5,727 posts)I responded, "well, for one thing he didn't put his back into it when he slapped you to the ground that time."
Got suspended from Twitter (briefly) but it was totally worth it.
George II
(67,782 posts)KS Toronado
(17,310 posts)Did they write them off as a business expense, lowering their own taxes?
NJCher
(35,716 posts)but he plays both sides with the bankers (this property is worth $15 millions) and with the IRS (this (same) property is worth $2 million), so it wouldn't surprise me any.
One item to consider is whether it would even be wise to bring this up on an IRS return. Anybody with any brains would see that just mentioning it could open a can of worms if an auditor decides to question it.
Lettuce Be
(2,336 posts)Scottie Mom
(5,812 posts)...the Leona Helmsley memorial cell!
👍
NurseJackie
(42,862 posts)Mr. Ected
(9,670 posts)Not even obliquely aware of the consequences of such a statement in the midst of a criminal investigation...OR...keenly aware and simply deflecting in the hopes that 10s of millions of ignoramuses will think this is some sort of political persecution of Donald Jesus Trump.
Nexus2
(1,261 posts)particular when its backed up with a big side of "Only the little people follow those laws".