11 Comments - 47th Ward - Friday, Oct 13, 23 @ 3:37 pm: ===Talk about using every loophole known to man.=== Don’t you use every loophole you’re entitled to? Why shouldn’t JB? - DuPage Saint - Friday, Oct 13, 23 @ 3:40 pm: Good for him he earned it the old fashioned way he inherited it. I don’t care how rich you are it still must hurt to write a check that big to the IRS - Just the Facts - Friday, Oct 13, 23 @ 3:43 pm: It would be interesting to see the Schedule A to the return to get an understanding of the $1,200,000 in itemized deductions. It is also notable that he is rolling forward to 2023 an almost $5 million federal overpayment and a $900,000 Illinois overpayment. I suspect he is doing that to be very prudent so that he can never be accused of underpaying his taxes if by some chance he is audited or has a large increase in income and federal income tax liability in a subsequent year. I would also note that his return is prepared by the Grand Rapids, Michigan office of Deloitte and not Chicago. Perhaps that is the office that does the returns for the trusts. - New Day - Friday, Oct 13, 23 @ 3:49 pm: Wow, he makes more money than I do. Not fair. Go figure. - Anyone Remember - Friday, Oct 13, 23 @ 4:10 pm: ===It would be interesting to see the Schedule A to the return to get an understanding of the $1,200,000 in itemized deductions.=== Know it isn’t Illinois-centric, but enjoy. https://www.taxnotes.com/presidential-tax-returns - Candy Dogood - Friday, Oct 13, 23 @ 4:25 pm: ===The billionaire reports just 1 million in taxable income? Talk about using every loophole known to man. Comical. === This isn’t really a secret. The Governor’s wealth is held in a trust and wouldn’t be reported on his individual income tax return. He also got in a bit of trouble over concerns as to whether or his trust was “blind” and whether or not he was aware of directly profiting from state contracts. - Donnie Elgin - Friday, Oct 13, 23 @ 4:27 pm: Don’t you use every loophole you’re entitled to? Why shouldn’t JB? Agreed and applies to Ken Griffin and Uihlein as well - Oswego Willy - Friday, Oct 13, 23 @ 4:33 pm: Ken Griffin doesn’t live in Illinois, keep up - Eire17 - Monday, Oct 16, 23 @ 5:49 am: As long as he complied with all applicable laws—to be very clear I’m not inferring he didn’t—then he can do whatever he wants. However very weak move to do it on the Friday dump. - Cermak Dr. - Monday, Oct 16, 23 @ 8:12 am: Can someone explain to a simpleton here, where his income from governor is? I had assumed it would be in form W-2 or maybe 1099 since he has no set hours. I am sure he donated it and would be on a Schedule-A. - Cermak Dr. - Monday, Oct 16, 23 @ 8:20 am: Use your resources! After some easy research, I answered my own question. JB refused the salary. Please excuse my stupidity. Sorry, comments for this post are now closed.