The main findings of Trump’s tax evasion: US $ 70 thousand in hairdressing and a tax payment of US $ 750

The New York Times newspaper released on Sunday President Donald Trump’s tax returns, something he had kept secret since he assumed the White House in January 2017. The article in the New York newspaper shows that the president you did not pay federal income taxes in 10 of the past 15 years, mainly because its conglomerate declared losses greater than its income. He only had to fork out $ 750 in 2016, the year he was elected to the U.S. Presidency, and the same amount during his first year in office.

The newspaper noted that their predecessors Barack Obama and George W. Bush each paid more than $ 100,000 a year.

Eugene Steuerle, a tax expert at the Urban Institute, told the Market Watch website that he was not surprised that Trump had paid almost no federal income taxes. “Most commercial real estate entrepreneurs reduce large interest payments on their debts from taxable income, which reduces their tax bills. They also generally avoid capital gains taxes investing the proceeds from the sale of one building in the purchase of another, ”he said.

Among the main findings of the investigation conducted by the newspaper is that it has reduced its tax bill with questionable measures, including a tax refund of US $ 72.9 million that is subject to an audit by the Internal Revenue Service. A judgment against you could cost you more than $ 100 million.

The newspaper notes that in 2011 the IRS (internal tax service) initiated an audit to review the legitimacy of the refund. Almost a decade later, the case remains unsolved, for unknown reasons, and could end up in federal court, where it could become a matter of public record.

Many of its flagship businesses, including its golf courses, report losing large amounts of money, losses that have helped you reduce your taxes. The financial pressure on him is mounting as hundreds of millions of dollars in loans that he personally guaranteed soon mature. The newspaper says that since 2000, Trump has reported losing more than $ 315 million on his golf courses, and much of that comes from Trump National Doral in Florida. His Washington hotel, which opened in 2016 and has been the subject of much speculation regarding federal ethics laws, has lost more than $ 55 million.

Even while declaring losses, the Times says, he has managed to enjoy a luxurious lifestyle by making tax cuts on what most people would consider personal expenses, including residences, airplanes and $ 70,000 in hairstyling for his television appearances. Those expenses would also be borne by her eldest daughter, Ivanka, who spent US $ 95,464,. according to the records of nine companies, in hairdressing.

While Ivanka worked as an employee of the Trump Organization, she appears to have received “consulting fees” that helped reduce the family’s tax bill, the Times said. Such a revelation could further tarnish Ivanka’s reputation, a senior White House adviser married to Jared Kushner, who also works as an adviser. She is believed to harbor her own political ambitions after Trump leaves office.

In this sense, the newspaper revealed that Trump’s private records show his company once paid $ 74,622 in fees to an unidentified consultant for hotel projects in Hawaii and Vancouver, British Columbia. Ivanka Trump’s public disclosure forms, which she filed when she joined the White House staff in 2017, show that she had received an identical amount through a consulting firm that she was co-owned.