My guess is Trump is making a fortune on the land/property appreciation and declaring a loss in running them.
You don’t get rich by paying taxes.
I was reading someone's take on that when building a building, they get to write off (depreciate) about 40% of the project in year one even though they may have leveraged the property 80% and have no personal risk on the debt. When they sell a building at a gain, they don't have to recognize taxable gain as long as they reinvest the proceeds into another piece of real estate. As long as they keep placing properties in service and always reinvest their sales they incur significant losses on the tax return and pay hardly any tax even though the project is economically successful.
have you paid your dues, can you moan the blues, can you bend them guitar strings
