Trump Foundation Imbroglio With New York AG Serves As A Lesson For Small Foundations
Reilly’s Fourth Law of Tax Planning – Execution isn’t everything but its a lot. If the two Donalds, Eric and Ivanaka had sat with CFO Allen Wessellberg once a year and had some minutes typed up about the approved donations for the coming year, that would have defused a significant part of the AG complaint. When donations not on the list came up, there could have been an email vote. There is a decent chance that would have prevented the political contribution. Somebody should have been following up on acknowledgments which would have uncovered the problems with the paintings. Why did it not run that way? Because it is not Trump’s style. Again from Art of the Deal.
NY Attorney General And Trump Foundation – Much Ado About Not Much
My conclusion is that the Donald J Trump Foundation is kind of rinky-dink, slightly sketchy and pretty sloppy. I also think that if Attorney General Barbara D. Underwood is focused on rooting out abuse in the charitable sector, she should really go fight crime somewhere else.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.