How many NY real estate families are stealing from the state in the same way Fred Trump did?

[Cicada]

4. For those who get bank loans not many, I think

Trumps are unusual in that they don’t get many bank loans. A bank will probably prefer financial statements prepared by a real cpa firm, not an in house guy.They probably insist on it. A real cpa firm wont permit massive tax fraud. And if I were a billionaire I wouldnt risk jail for anything. I knew a guy who cofounded an insurance company as a device to legally minimize profits. Buffet has done that. Very savvy. He told me that you should be extremely scrupulous in reporting income. You should never ever come close to cheating on that. Because you could go to jail. But on deductions? He said he would never ever get the wrong amount. But categorizing a deduction as one kind of thing rather than another kind of thing offered opportunity to alter tax substantially without risk if prosecution.