Now That Six Years of His Tax Returns Are Public, Here Are Four Words That Describe Donald Trump the Businessman
From the Los Angeles Times today: During the years in which Trump battled disclosure, much of the information he sought to keep secret about his pre-presidential finances became public anyway, largely from a 2020 New York Times investigation. The picture that emerged showed that for all Trump’s claims to be a great businessman, his core businesses […]
#TaxTwitter Has Some Takes on NYT Article About Trump’s Taxes
We love our friends on #TaxTwitter, so after the New York Times released its exposé last night on how much President DJT has paid in income taxes (or the lack thereof) in the past 15 years, we knew they would have a lot to say on the matter, even though they are up to their […]
Mazars USA Subpoenaed for You-Know-Who’s Tax Returns
Has Donald Trump released his tax returns? Nope! But Manhattan District Attorney Cyrus Vance Jr., a Democrat, is trying hard to get his hands on them. The Manhattan District Attorney’s Office has subpoenaed eight years of President Trump’s personal and corporate tax returns as part of its investigation into hush money payments to two women […]
Notorious Liar Most Likely Telling Another Lie About His Finances
“Frankly, the people don’t care. My finances are very clean.” — President Trump, when asked if he would release his tax returns, which he claims are still under audit by the IRS. [Roll Call]
Accounting News Roundup: Trump’s $916 Million Loss and Small Time Accounting Crooks | 10.03.16
Has Donald Trump released his tax returns? Nope! But someone sent three pages of his 1995 returns to a New York Times reporter that showed a nearly $916 million loss for his adjusted gross income. The losses arose out of "financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City […]
Accounting News Roundup: Executive Impersonation Scams and Thankless Jobs | 09.22.16
AICPA to the rescue By now you've likely heard about the scam where an unsuspecting accountant receives an email from a high-ranking executive, usually a CFO, requesting a large wire transfer. The dutiful accountant doesn't want to keep the boss waiting so he or she makes the transfer toot sweet only to learn later that […]
Accounting News Roundup: KPMG’s Blockchain Services and Happy September 15th | 09.15.16
Blockchain Last year, KPMG announced a "strategic alliance" with Microsoft, one of the many instances of a mega professional services firm teaming up with a mega technology company. Today we learn that strategic alliance will now include blockchain things: Global accounting firm KPMG yesterday launched a suite of tools designed to help banks and other […]
Accounting News Roundup: Unsatisfied Whistleblowers and RIP Eddie Antar | 09.12.16
Unsatisfied whistleblowers Whistleblowers go through a lot to expose wrongdoing. Their lives are turned upside down for years — loss of jobs, income, etc. — and sometimes it's all for nothing; the company is never held accountable and everyone moves on. This was not the case for the Monsanto whistleblower who was awarded $22 million. […]
Accounting News Roundup: Unholy Vatican Accounting and Deloitte’s Bitcoin ATM | 09.08.16
Vatican accounting Here's an article about Cardinal George Pell, "the pope's finance chief" who hired PwC to audit the Vatican late last year. And if you think your company's/client's books are a mess, you'll thank the Almighty that you don't have to deal with this: Accounting at the Vatican has never followed unified policies. Annual […]
Accounting News Roundup: Deloitte’s Revenue and Apple’s Tax Returns | 09.07.16
Deloitte's revenue Each year, accounting firms release revenue results and each year I am reminded that it's not really about transparency, rather, it is about marketing. The most meaningful number in Deloitte's press release is the $36.8 billion in global revenue. From there, it's a long list of factoids that the firm wants to tell […]