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PDF Editor FAQ

After the Supreme Court’s recent ruling, will we finally get to see Donald Trump’s income tax returns?

Hello!No, not the general public, since grand jury proceedings are secret while they’re in progress. But the Mannhattan DA Cyrus Vance Jr will, and soon! As in the next couple of days. This is what partiularly will interest him. Tax Evasion: the Achilles Heel of the rich and infamous!Source: Donald Trump 'paid $750 in federal income taxes in 2016 and 2017' - NY TimesNeedless to say that the tax returns are THE key piece of the puzzle prosecutors will have to unravel. Will Trump go to jail? There’s no question he will, but not tomorrow or in the next few weeks.Prosecutors will bring the most comprehensive and well-documented criminal case against Trump as possible. But working through the tax return documents will take time.Meanwhile the Tangerine Traitor:81 million Americans when they heard the news:Pump it up.. 😅🎥 IG: kristin_sitova pic.twitter.com/jrZ6tXbPLs— Buitengebieden (@buitengebieden_) February 22, 2021Toodles!

What happens when you win a car on a game show?

My wife won this Honda Civic on The Price Is Right, back in 2016.Nothing happens until after the show airs. We were sworn to secrecy until then. She had to sign non-disclosure paperwork stating that we would tell nobody or risk forfeiture of all prizes. We had to keep this secret for ten weeks, until our show finally aired.A few weeks after air date CBS mailed our California non-resident state income tax bill, for 7% of the value of the car. (In our case, 7% of $22k or $1540). Again nothing happens until they receive that payment, in a certified check! A few more weeks passed before Honda of Hollywood, who had provided the car, called to arrange delivery.We assumed they would just have us pick up the car locally rather than ship it, because we were living in Buffalo, New York. But it’s up to the local California dealer, and they chose to ship it to New York. (Probably because they get full credit from Honda on the sale, and get it off their lot. It was late in the year and the new models were coming in.)We waited over a month for them to finalize shipping. The show aired in early November and we didn’t get it until February. They ended up putting it on a private carrier who was bringing miscellaneous cars cross-country. He delivered it to our closest WalMart parking lot on a Sunday night at 11PM! We had to nervously drive it home without license plates in the dead of night!Now the story gets crazy.We went to the Department of Motor Vehicles (DMV) the next day to get the plates and title. They wanted a “Bill of Sale”, which of course we didn’t have. “We won it on Price Is Right,” we explained. Word got around the DMV office and everyone was congratulating us. Finally the “supervisor” had to get involved. They determined we needed a Certificate of Origin. We weren’t given that either. All we had was the tax bill from CBS. We called the dealer; they didn’t have it. They had to call the Honda factory in Ohio for that. So that took the whole week to sort out.We left empty-handed but finally got the plates on our next DMV visit a week later. We still have the car three years later and LOVE IT! The rear plate holder is the one given to all car winners and says, “I won this car on The Price Is Right”. The front plate holder is “HONDA of HOLLYWOOD”. Both make for great conversation pieces! [I filed down the screws on the rear plate to prevent someone the temptation of stealing it!]Fast-forward to the following January and the 1099-MISC arrives from CBS. We were prepared to pay federal tax on the car and had put money aside. What we didn’t anticipate was that the extra $22000 would push us into a higher tax bracket. So we paid more than anticipated. The tax software makes it easy to calculate with car and without car taxes, and the “with car” tax differential amounted to 31% of the car, or an extra $6800. We got all that California pre-paid tax back (filing non-resident form), but ended up paying it (7%) to NY State instead.Total taxes: 38% or $8372.Was it worth it? Hell yes!

Do Democrats who opposed Amazon's New York HQ2 understand that it would have delivered tax revenue that is about 9x greater than the tax breaks received? If so how can they complain about a hit to tax revenue?

We understand that those were the promises. And that they were based on the rosiest estimates from people promoting the deal.But we’ve also seen what often happens to those promises — look at the Foxconn deal in Wisconsin, or closer to home at the promises made to push through several casinos in upstate NY that also aren’t bringing the promised prosperity.All too often the only thing that’s actually certain in these deals is the tax breaks and outright payoffs to the company. The taxpayers assume all the risk.And it’s not like unemployment in NYC isn’t already low — 3.3% in Long Island City, where HQ2 was planned to go — or that its economy set already creating jobs. The NY Department of Labor said that 8,000 new jobs were created in the five boroughs in December 2018. At that rate, there will be 25K new jobs in just over three months. HQ2 wouldn’t even be ready to break ground by then. And those jobs might not all pay six figures, but the companies wouldn’t be getting big tax breaks to create them.

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