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NowISeetheLight

(3,943 posts) Thu Apr 11, 2024, 10:54 PM Apr 11

Question - Shouldn't This Be Considered Income? [View all]

I was watching Seth Meyers clip tonight on youtube. He said Trump had spent over $100m from his "Save America PAC" on his legal expenses.

My question is why isnt this considered income for him then? Like a gift tax or something? It should be taxed. It benefits him personally.

Im not a tax lawyer so i dont know. But it just seems wrong.

11 replies

= new reply since forum marked as read

Highlight:

Question - Shouldn't This Be Considered Income? [View all] NowISeetheLight Apr 11 OP

CREW agrees with you. Frasier Balzov Apr 11 #1

I agree (long time cpa here). ALBliberal Apr 11 #2

Every campaign pays for legal services; so does every PAC brooklynite Apr 12 #7

This is whast's wrong ... KPN Apr 12 #8

He won't pay a penny. spanone Apr 11 #3

This message was self-deleted by its author spanone Apr 11 #4

Jerks like him always seem to get nailed by the IRS Warpy Apr 11 #5

No its not, for this reason brooklynite Apr 11 #6

If the ACLU provides you with a free lawyer to argue a reproductive rights case, should you consider that "income"? No. brooklynite Apr 12 #9

I'm not a tax attorney . . . AverageOldGuy Apr 12 #10

They can probably argue that it's a legitimate campaign expense unblock Apr 12 #11