Inside Network
  • Home
  • Business
  • Marketing & Tech
  • Real Estate
  • Contact
  • About us
    • Vacancies
    • Our team
No Result
View All Result
  • Home
  • Business
  • Marketing & Tech
  • Real Estate
  • Contact
  • About us
    • Vacancies
    • Our team
No Result
View All Result
Inside Network
Home Business

Trump paid hardly any tax for more than a decade

by Inside Network
September 28, 2020
in Business

A recent report published by the New York Times revealed that President Donald Trump has avoided paying the federal income tax for ten of the last fifteen years. It further highlighted that he has paid these taxes amounting to $750 in 2016 and 2017. Accordingly, Trump avoided these taxes “because he reported losing much more money than he made.” The NYT previously obtained a wide range of tax-return data from Trump and his companies after he refused to reveal this information publicly. This refusal initiated an ongoing legal document to gain access to them. 

NYT report

The documents obtained by the NYT span over twenty years and include “detailed information from his first two years in office.” The report further highlighted that Trump’s ongoing tax avoidance could be attributed to writing up his spending for personal expenses and family businesses. It also highlighted his reliance on a tax refund of $72.9 million. This refund is currently under audit by the Internal Revenue Service, and there is $100 million on the line in the current audit battle. 

The report was published just two days before former Vice President Joe Biden and Trump’s first general election debate for 2020. Currently, Biden has not commented on the matter. The NYT also reported that most of Trump’s money comes from his golf properties in Ireland and Scotland, although he received an additional $3 million from the Philippines, $1 million from Turkey, and $2.3 million from India.

The report also highlighted significant losses amongst Trump’s business operations, including $315.6 millions of reported losses from his golf courses and $55.5 million losses in his Washington DC hotel since it was established in 2016. 

According to the report, Trump has taken $73 million from foreign services. On the other hand, these tax records do not highlight any previously unknown ties to Russia, which have garnered much attention. Further adding attention to Trump’s personal finances, the report highlighted that the President is responsible for a more than $420 million debt, the majority of which is due in the next four years.

Fake news according to Trump

Soon after the report was published, Trump called the information “fake news” at a White House news conference. The Trump Organization’s lawyer, Alan Garten, responded but stated that the majority, if not all, of the facts in the report “appear to be inaccurate.”  He further added that “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015.”

The NYT has promised more reports in the series with further stories being published in the future as the election grows closer. Two of the reporters behind the story won the Pulitzer Prize in 2019 for their work on an investigation into Trump’s finances based on his previous tax records. Whatever information future reports reveal, they’ll definitely be interesting given the current political landscape amid the 2020 US General Election.

Related Posts

business-automation
Business

Automate Your Business for Increased Efficiency and Profitability

March 24, 2023
marketing-in-education
Marketing & Tech

The Role of Marketing in Education: How it Benefits Students and Institutions

March 16, 2023
VA-loan
Business

VA Home Loans: Helping Heroes Find a Home

March 16, 2023

Marketing & Tech

The Role of Marketing in Education: How it Benefits Students and Institutions

How To Earn From Your Blog Without Investing?

How to Monitor SEO Backlinks?

How to Market an Event

How to make a group chat on Snapchat 2023: Step-by-Step Guide!

business-automation

Automate Your Business for Increased Efficiency and Profitability

March 24, 2023
marketing-in-education

The Role of Marketing in Education: How it Benefits Students and Institutions

March 16, 2023
VA-loan

VA Home Loans: Helping Heroes Find a Home

March 16, 2023
earn-from-your-blog

How To Earn From Your Blog Without Investing?

March 10, 2023

Best Articles

How To Sign Out Of Outlook On Desktop And Mobile?

What does a highlighted comment mean on YouTube?

Best paying jobs in basic industries in 2023

How to delete a Discord server?

How to make a post shareable on Facebook?

How to log out of the Amazon App and website using mobile and desktop?

DISM.exe /Online /Cleanup-Image /Restorehealth commands. What can it do?

How to put programs to sleep in Windows 10?

What does a Chief Commercial Officer (CCO) do? And what is the meaning of a CCO?

How to search for a seller on eBay?

Top 10 Best Paying Jobs In Public Utilities

What does PM mean on facebook? And how to PM someone on Facebook?

How to add multiple pictures in to one Instagram story?

How to watch Instagram live on PC or laptop?

Best paying jobs in capital goods in 2023

10 Best Paying Jobs In Energy in 2023

How to remove a Google profile picture?

How to mark all emails as read in Gmail and Outlook

Inside Network

Inside Network

Insidenetwork is the specialist in articles on business, tech, real estate and marketing.

Contact us

info@insidenetwork.com

Recent Articles

business-automation

Automate Your Business for Increased Efficiency and Profitability

March 24, 2023
marketing-in-education

The Role of Marketing in Education: How it Benefits Students and Institutions

March 16, 2023

Categories

  • Business
    • Human resource management
    • Management & Organization
  • Marketing & Tech
    • Advertising
    • E-commerce
    • Facebook
    • Search Engine Optimization
    • Social media
  • Real Estate
    • Office space
  • Uncategorized
  • About us
  • Contact

© 2020 Insidenetwork.com - The place for business.

No Result
View All Result
  • Home
  • Business
  • Marketing & Tech
  • Real Estate
  • Contact

© 2020 Insidenetwork.com - The place for business.

  • English