[ad_1]
AUS President Donald Trump has not paid any federal income tax in 10 of the last 15 years, according to a New York Times report. The newspaper reported Sunday, citing two-decade tax returns that it had access to. Trump called the report “fake news” at a press conference.
Trump is the only modern president who has not disclosed his tax returns. According to the report, he only paid $ 750 in federal taxes in 2016, the year he was elected. In his first year in office, he paid another $ 750, according to the report.
An attorney for the Trump Organization, Alan Garten, told the New York Times that “most, if not all, of the facts appear to be inaccurate.” The president “has paid millions of dollars in personal taxes to the federal government, including millions in personal taxes, since he announced his candidacy in 2015.”
The report comes at a critical moment: The first debate between Republican Trump and his Democratic challenger Joe Biden will take place on Tuesday and the presidential election on November 3.
Trump responds to the report
At a press conference on Sunday, Trump said: “I have paid a lot, I have also paid a lot of taxes to the state, New York state charges a lot. He also promised that his tax information would be released if there was any. The ongoing audit of the IRS tax authority has been completed for years. He made similar promises during the 2016 election campaign and failed to keep them.
In fact, Trump took legal action against the publication. Among other things, the House of Representatives had demanded the release of the documents as part of congressional oversight.
Can Trump defend himself against Biden? A personal assessment and top American reviews from FAZ in your email inbox every Thursday.
The details of his tax returns do not match Trump’s description of himself as a shrewd, patriotic businessman. Instead, they show a variety of financial losses and income abroad that could conflict with your role as president. Financial disclosure indicated that Trump earned at least $ 434.9 million in 2018, but tax records indicate a loss of $ 47.4 million.
Doing business abroad as president
Trump received $ 73 million for doing business abroad during his first two years as president. These include golf courses in Scotland and Ireland, as well as shops in the Philippines, India, and Turkey. In 2017, Trump paid $ 145,400 in taxes in India and $ 156,824 in the Philippines. According to the New York Times, corporate investment loans allowed Trump’s income in 2016 and 2017 to decline after he received an extension of the deadline to file his tax return.
You found numerous ways to reduce your tax liability. Personal expenses for housing and airplanes were tax deductible, including $ 70,000 for hair care. The loss on the property she owned only appeared to have offset her gains on The Apprentice television show and other multi-owner properties.
