Posted on 04/24/2012 9:06:53 AM PDT by JesseWatters
When President Barack Obama and Vice-President Joe Biden released their 2011 tax returns just before Tax Day, most comments focused on their income and tax rates. There’s more to say, according to CPA Steven Bankler in San Antonio, who is certified as a forensic accountant and worked for the Senate Whitewater committee. Every year Bankler shares an analysis of our leaders’ tax returns with the journal Tax Notes. Here are some of his observations for this year. The Obamas should pay down their mortgage. They apparently have a 30-year mortgage on their Chicago house with a fixed rate of 5.625% from Northern Trust, the private bank that is also the custodian of their blind trust. Their $48,000 interest deduction indicates they still owe about $850,000 on the house, says Bankler.
(Excerpt) Read more at nation.foxnews.com ...
Tim Geithner must have helped them file.
Really? Why did Biden choose to take Social Security earlier than required? And Obama made the choice to shelter income? Sounds like a loophole to me! Don't these berks ever practice what they preach? What I want to know is how their tax rates compare to that of their secretaries.
Well, no one ever said that he was a financial wizard.
If they can’t manage their own money why the hell are they qualified to manage OURS?
PATHETIC!
If they can’t manage their own money why the hell are they qualified to manage OURS?
It was actually Michael S. Solheim, the dumbass CPA, who botched the Obama’s tax return.
Note the bidens continue their generous charitable giving and obama controllers continue to launder payments to keep him and mooch in luxury in the form of “book royalties”
As per a collections agent (skip tracer) who did research, Bath-House Barry’s house (Greenwood Ave, Chicago IL) is owned by Jayne Stewart-a circuit court judge in Cook County AND his accountant is ALSO part owner.
The house has 6-7 “PIN” numbers when it should only have 1 PIN Index Number.
This collections agent seems to suggest Real Estate Fraud.
http://www.youtube.com/watch?v=A7czei27fTY&feature=related
I guess he worked somewhere in the 4 years between his Law School PhD. and being elected to the Senate in ‘72.
The pricing of jumbo mortgages is higher than conventional
Bump
The Obamas should pay down their mortgage
They are waiting for the taxpayers to write it down and pay ir off just like his voters do.
Of course the argument could be made that the taxpayers are already paying for it through his salary.
AMT will knock out the deductibility of mortgage interest, state and property taxes.
Yes, they should pay it down; lest they think they can collect > 5.625% in a savings account (not).
To refinance the bank would ask for ID.
Who on earth would not refi a $850k at 5.625%?
Money laundering. Is that bank going to foreclose on the golden goose? The tax return is as phony as Soetoro is.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.