He Quote by James B. Stewart
“From what little is known of Mr. Trump's tax returns, he used losses to offset virtually all of his taxable income for years by generating something called net operating loss carry-overs.”
About This Quote
Source Book: "The Wall Street Journal Guide to Corporate Finance", 2010
Trump used tax loss carryovers to nullify taxable income, showing loopholes in tax law.
In simple terms: Tax loss carryovers can erase taxable income.
Key Takeaway
Understand tax strategies.
Themes
tax law
finance
politics
Mood
critical
concerned
Type
analytical
informative
When to use this quote
- corporate accounting
- political analysis
- public policy
Key Concepts
net operating loss
tax avoidance
Questions to Reflect On
- How do loss carryovers affect fairness?
- Should tax law be reformed?
A Different Perspective
Legal reforms may limit such tactics.
![“I don't think that we need to see [Donald Trump] tax returns to verify his financial acumen. I walk into the Trump Tower every day and I'm like, this guy did pretty well for himself before I got here.” quote by Kellyanne Conway](https://sms4smile.com/quotes/img-quotes/5fa/kellyanne-conway-1450_acumen_i-don-t-think-that-we-need-to-see-donald_698615.jpg)
