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This Sunday the newspaper The New York Times reported the US President’s tax returns, Donald trump, for the last 18 years, with data on income, expenses and overdue debts.
The document shows failed deals, numerous debts that put your solvency and deduction structure at risk, legal movements and possible conflicts of interest, which could lead the Tax Collection Service (IRS) to claim about 100 million dollars.
Detail of the most important revelations of the analysis of Trump’s tax returns between 2000 and 2017:
- The mandatary paid zero dollars in taxes federals in 11 of the 18 years analyzed by the media, and only between 2016 and 2017 paid $ 750, each year.
- Triumph received a tax refund for 72.9 million dollars for taxes paid between 2005 and 2007, after availing itself in 2010 of a measure created by the 2008 crisis and which allowed it to recover the money paid to the treasury precisely during the years it reported the most. The IRS has an audit open on that amount that it may have to return with interest and penalties.
- President avoided paying taxes by transferring losses from other years, especially those incurred between 1985 and 1994, which made him one of the largest personal loss filers in the country.
- By assigning his name to real estate or other projects, Trump earned more than 427 million dollars between 2004 and 2018.
- Also has personal debts for about 421 million of dollars, whose payments he will have to face in the next four years and that put him at risk of insolvency during his second term, if he is reelected.
- Triumph reduced your tax base adding expenses such as her $ 70,000 in hairstyling and another $ 100,000 in Ivanka Trump’s hairstylist and makeup artist or the expenses of her helicopter.
- It also uses the declaration of “conservation” of natural spaces on a golf course, as well as the Seven Spring (New York) mansion, which also declares as an investment, not as a home, thereby saving on taxes.
- Trump could have paid his daughter Ivanka $ 747,622 for working as a consultant, another cost that can be deducted, according to figures that coincide in the statement of expenses of the president and the income of his daughter, who was an employee of the “Trump Organization”, with which the hiring could be fraudulent.
- The president would have received more money from foreigners and interest groups through their hotel businesses and golf courses than was known to date. This raises questions about whether Trump favors an unspoken quid pro quo.
- Much of their income from foreign businesses, most from naming them to properties, carried linked high consulting expenses, with which Trump reduced the benefit and therefore the taxable amount.
- The Trump Hotel (Washington), the resort of Doral (Miami) or Mar-a-Lago (Palm Beach), they are a sink for losses and his most profitable property, Trump Tower in Manhattan, could stop providing liquidity due to the impact of the coronavirus, in addition to forcing him to pay a $ 100 million mortgage before 2022.
