President Trump paid no federal income taxes in 10 of the past 15 years, according to a report in the New York Times
Trump’s refusal to say that he’d peacefully transfer power may just be bluster. But there are steps he could take, and Democrats are on the alert.During his first two years as president, Trump received $73 million from foreign operations, which, in addition to his golf properties in Scotland and Ireland, included $3 million from the Philippines, $2.3 million from India and $1 million from Turkey, according to the Times report.
Trump found multiple ways to reduce his tax bills. He has taken tax deductions on personal expenses such as housing and aircraft, as well as $70,000 in hair care. Losses in the property businesses solely owned and managed by Trump appear to have offset income from his stake in the television show “The Apprentice” and other entities with multiple owners.
During the first two years of his presidency, Trump relied on business tax credits to reduce his tax obligations. The Times said $9.7 million worth of business investment credits that were submitted after Trump requested an extension to file his taxes allowed him to reduce his income and pay just $750 in both 2016 and 2017.
Trump, starting in 2010, claimed and received an income tax refund that totaled $72.9 million, which the Times said was at the core of an ongoing audit by the IRS.A lawyer for the Trump Organization, Alan Garten, and a spokesperson for the Trump Organization did not immediately respond to a request for comment from the Associated Press on the report.
During the first general election debate in 2016, his opponent, former Secretary of State Hillary Clinton, said that perhaps Trump wasn’t releasing his tax returns because he had paid nothing in federal taxes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York Nico Is Helping Save New York City, One Instagram Post at a Time'A record store isn't going to sell enough records to make enough money to cover their $17,000 rent in East Village.' Nicolas Heller AKA New York Nico NuevaYorkNico is using his platform to help save New York City's small businesses.
Read more »
Trump lashes out at New York Times report alleging years of tax avoidanceJUST IN: New York Times reports years of alleged tax avoidance by President Trump, citing decades worth of Trump's tax information. Trump on Sunday said the story was 'totally fake news' and 'made up.'
Read more »
Trump denies New York Times report on tax returns as 'fake news' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
New York state logs over 1,000 new coronavirus cases for 1st time since JuneJUST IN: New York records more than 1,000 new coronavirus cases in a single day, the first time since June that the state had a daily number that high.
Read more »
NY Times: Trump paid $750 in US income taxes in 2016, 2017President Donald Trump paid no federal income taxes in 10 of the past 15 years, according to a report Sunday in The New York Times. Trump, who has fiercely guarded his tax filings and is the...
Read more »