Yes, OK, it’s election time and The Guardian’s in the hole for Biden. And yet still, really people? These continued claims that Ivanka Trump has done something criminal in gaining a consultancy fee. Really?
She apparently received “consulting fees” paid by the Trump Organization, helping reduce the Trump family’s tax bill, while she was simultaneously an employee of the organization.
“Trump’s private records show that his company once paid $747,622 in fees to an unnamed consultant for hotel projects in Hawaii and Vancouver, British Columbia,” the Times noted. “Ivanka Trump’s public disclosure forms – which she filed when joining the White House staff in 2017 – show that she had received an identical amount through a consulting company she co-owned.”
Well, the first interesting question is what is the Trump family’s tax bill? Sure, you can file jointly or separately as a married couple but that’s not what they mean here now is it. They’re implying that there’s some joint tax bill between all the family – there ain’t.
Secondly, she didn’t get fees from “The Trump Organisation”. She got fees from some other or one of the 500 different LLPs, LLCs etc.
Joshua Kendall, author of First Dads: Parenting and Politics from George Washington to Barack Obama, said: “There seems to be an overlap in terms of her declaring that same amount of money on her financial disclosure so this really could be very, very damaging. There has been some speculation about a criminal prosecution. This could really be a turning point for her.”
Why would there be a criminal prosecution? Bird gets paid by company for work she has done. And?
Further, how does someone getting paid and paying tax on that income – no one at all is suggesting that Ivanka didn’t – a reduction in tax bills? Or, for that matter, something that would give rise to a criminal prosecution?
“But this payment may have criminal repercussions that are more significant. If she knowingly accepted this money and did it with any understanding that it was in order to evade taxes, and then her father signed the tax returns knowingly, both of them could have criminal liability. So I don’t think it’s a small thing that can just be written off as: “Oh well, it’s too bad that she made this mistake.’”
Just to go through it. If it’s a gift then Trump should pay tax on a gift to his daughter. She does not then – as I understand it – pay tax on receiving the gift. Or, if it’s not a gift, if it’s payment for work done then she pays tax on the income in the normal manner and the company/Trump/Poppa doesn’t. Because it’s not a gift therefore gift tax is not payable.
And the definition of gift? According to the IRS it’s if the payment wasn’t for work done. Do hotels hire consultants to tell then what colour the cushions should be? They do. So, why not Ivanka? She did run a fashion chain etc, no?
That is, it’s not a mistake and it’s not about to give rise to a criminal prosecution. It’s bullshit – but then this is election time, isn’t it?