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28-09-2020, 01:29 AM
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Trump 'paid $750 in federal income taxes in 2016' - New York Times

https://www.bbc.co.uk/news/technology-54319948

The newspaper - which says it has obtained tax records for Mr Trump and his companies over two decades - also says he paid no income taxes at all in 10 of the last 15 years. It says this is "largely" due to the companies reporting losses.

Mr Trump dismissed the report as "totally fake news". "Actually I paid, but you'll see then as soon as my tax returns are done,"* he told reporters after the story was published on Sunday.

The New York Times said it had reviewed tax returns relating to President Trump and the companies owned by the Trump Organization going back to the 1990s, as well as his personal returns for 2016 and 2017.

The publication claims that Mr Trump paid just $750 in income taxes in 2016, and $750 in 2017.
Trump may be the wealthiest U.S. president in history. Yet he has often paid less in taxes than other recent presidents. Barack Obama and George W. Bush each regularly paid more than $100,000 a year and sometimes much more in federal income taxes while in office. Trump, by contrast, is running a federal government to which he has contributed almost no income tax revenue for many years.

Trump refuses to share documents concerning his fortune and business, and is the first president since Richard Nixon in the 1970s not to have made his tax returns public. His lawyers argue he enjoys total immunity while in office.

* AFAIK, the US Supreme Court is still to decide whether Trump's tax returns and other financial records can be examined by Congress and prosecutors.
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28-09-2020, 07:08 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

Hi

His hair costs 50k a year which he claims as a tax deductible expense.
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28-09-2020, 08:48 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

I hope thats a joke Swimmy....but it wouldn't surprise me if its not
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28-09-2020, 08:56 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

I wonder if we will ever get to see the truth
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28-09-2020, 09:01 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

Update

An earlier report says:

Supreme Court says New York prosecutors can see records

https://www.bbc.co.uk/news/world-us-canada-53353953

9 July 2020

In a related case, the court ruled that this information did not have to be shared with Congress. Both cases were returned to the lower courts, effectively delaying any judgement.
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28-09-2020, 09:12 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

The Telegraph, today, tells us that Trump does not take any of his 400,000 a year salary.

It is donated elsewhere.

His Golf Club ownerships have been passed to other family members, they say, and are not in very good financial shape.

As for paying tax, anyone who can,legally, avoid paying tax should do so.

An annual check, of all the nooks and crannies of the tax system, is something we should all consider.

Why pay what you don't have to?

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28-09-2020, 09:32 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

Originally Posted by swimfeeders ->
Hi

His hair costs 50k a year which he claims as a tax deductible expense.
Originally Posted by summer ->
I hope thats a joke Swimmy....but it wouldn't surprise me if its not
Trump's pulled the stunt at least once:

https://www.independent.co.uk/news/w...s-b659155.html

Trump has been aggressive in claiming certain business expenses that further shrank his tax bill, according to the Times. That includes $70,000 in hairstyling expenses tied to "The Apprentice," his former television program.


The Times found that a large amount of Trump's profits came from selling Trump himself. It reported that the former reality television star reported making a combined $427.4 million from 2004 to 2018 by selling his name and image through various endorsements and licensing deals.
Tax-free, of course .....
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28-09-2020, 10:26 AM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

Originally Posted by Tedc ->
The Telegraph, today, tells us that Trump does not take any of his 400,000 a year salary.

It is donated elsewhere.

His Golf Club ownerships have been passed to other family members, they say, and are not in very good financial shape.

As for paying tax, anyone who can,legally, avoid paying tax should do so.

An annual check, of all the nooks and crannies of the tax system, is something we should all consider.

Why pay what you don't have to?

ETHICS??

Donkeyman! 🤔🤔
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28-09-2020, 12:18 PM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

I can't see that Trump would have engaged in tax evasion. Tax avoidance is entirely legal and anyone who doesn't take every opportunity to avoid paying tax is a mug.
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28-09-2020, 12:20 PM
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Re: Trump 'paid $750 in federal income taxes in 2016' - New York Times

Originally Posted by Omah ->
Trump's pulled the stunt at least once:

https://www.independent.co.uk/news/w...s-b659155.html







Tax-free, of course .....
So what?
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