Why would his basis be in the 60s? It would be on any actual money invested (which we know is zero), and any value of contribution to the Trump Media company before the merger (which was likely nothing...but he'll claim brand value or some intangible value).
He could have made an 83(b) election...but I doubt he'd "prepay" any taxes...since he never pays them.
He's in a really interesting position...because he says he doesn't need the money, but it seems unlikely it will ever be worth more. Meanwhile Melania is out giving a speech for $240k...paid by his campaign (thank you donors).
Typically an ipo will give you a step up basis. Normally used to offset gains. Here, I assume (not a cpa) that if you sold, the ipo basis would provide a handy loss to offset any other tax obligations. He can still pocket hundreds of millions (maybe), and shield other gains (like selling a skyscraper to pay off legal claims). This would be as legit as his accounting has ever been.
DJT stock price dipped into the 11s this morning before recovering to low/mid 12s. I think his basis is in the high 60s, so if he has seen a value loss of nearly 6 billion dollars this year. If he managed to sell it off at this level, he really wouldn't need to pay taxes for a while!
Why would his basis be in the 60s? It would be on any actual money invested (which we know is zero), and any value of contribution to the Trump Media company before the merger (which was likely nothing...but he'll claim brand value or some intangible value).
He could have made an 83(b) election...but I doubt he'd "prepay" any taxes...since he never pays them.
He's in a really interesting position...because he says he doesn't need the money, but it seems unlikely it will ever be worth more. Meanwhile Melania is out giving a speech for $240k...paid by his campaign (thank you donors).
DJT stock price dipped into the 11s this morning before recovering to low/mid 12s. I think his basis is in the high 60s, so if he has seen a value loss of nearly 6 billion dollars this year. If he managed to sell it off at this level, he really wouldn't need to pay taxes for a while!
One time our junior high coach looked over at the two troublemakers and told us, "Steely, you and Carter are mundane and supercilious!" which has become one of my favorite insults.
A bit surprised that a coach would count those words in his vocabulary.
Yeah. He seems to be a practitioner. A useful tool. It's all the rage in a self-service world type scenario.
Some tricks should wear out their unwelcome.
He has described himself as the "living embodiment of truth", urging his thousands of devoted followers to understand life's meaning through "core-splitting honesty"
Yikes
So he calls his book "Unveiling Reality". I read some at the site for his book. Certainly not Christian. Kinda new age maybe? Out of my trajectory. We need experts.
Fairly convoluted thinking, and I know convoluted when I seizure it, but I digress. This is the Trump thread so maybe not so anyway all mitts are catchers.
i was labeled an omphalopsychite in the third grade
i still practice..
One time our junior high coach looked over at the two troublemakers and told us, "Steely, you and Carter are mundane and supercilious!" which has become one of my favorite insults.
