Serious Shady accounting underpins Trump’s wealth

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Shady accounting underpins Trump’s wealth

The GOP nominee is rich. But how rich depends on odd accounting and subjective criteria.
By BEN WHITE 05/31/16 05:21 AM EDT Updated 05/31/16 10:24 AM EDT

NEW YORK — Donald Trump claims a net worth of more than $10 billion and an income of $557 million. But he appears to get there only by overvaluing properties and ignoring his expenses.

POLITICO spoke with more than a dozen financial experts and Trump’s fellow multimillionaires about the presumptive Republican nominee’s latest financial statement. Their conclusion: The real estate magnate’s bottom line — what he actually puts in his own pocket — could be much lower than he suggests. Some financial analysts said this, and a very low tax rate, is why Trump won’t release his tax returns.

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http://www.politico.com/story/2016/0...t-worth-223662


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