The 10 most shocking revelations about Trump and his businesses from his tax returns

Must read

Moderator Chris Wallace fails to stop interruptions in first debate

He is known as a tough interviewer, but Chris Wallace struggled Tuesday night to moderate the presidential debate, without being able to control a...

Poll: Americans fear foreign interference

Most Americans are at least concerned about the potential for foreign interference in the November election and most believe that Russia tried to influence...

Poll: Most Cuban-Americans in Miami support Trump policies and will vote for him

A majority of Cuban-Americans in Miami-Dade approve President Donald Trump's handling of the economy, health and politics toward Cuba, and will vote for it...

Trump’s anti-communist speech resounds among Florida Hispanics, which can re-elect it

The realities of Cubans and Venezuelans in Miami are so intertwined that what hits each other. Exiled from left-wing governments, they migrated after an...
Florida Times
Florida Timeshttps://floridatimes.news
This article was written by the Florida Times. If you want to replicate this content, be sure to link to this story to preserve the original source.

Donald Trump has been the first president in the country’s recent history to have broken with the tradition of publishing his tax documents.

It is important to note that the documents were prepared by Trump companies in order to file them with the Internal Revenue Service (IRS) and are not an impartial recount. However, they provide the most complete picture of their financial statements that has been seen so far.

Here are the 10 most significant revelations about Trump

1) Between 2016 and 2017, when Trump won the election and during his first year at the White House he paid only $1,500, in total, of federal income taxes, despite managing a seemingly multibillion-dollar organization. He rejected this discovery and assured that he paid “a lot,” referencing state taxes.

2) Report more losses than profits. This has been one of your Organization’s most visible strategies. In 10 of the last 15 years he has not had to pay federal taxes due to recorded million-dollar losses.

3) An ostentatious lifestyle. Despite reports of losses, the representative has managed to benefit from tax deductions for items that would appear to belong to personal expenses. For example, deducting $70,000 spent on haircuts to appear on television.

4) Trump has a formidable fiscal battle going on: the IRS has been auditing a $72.9 million refund for a decade to see if it really deserved it; if it is proven to have been irregular, it could cost you more than 100 million.

5) At the same time as Ivanka Trump, the president’s daughter, worked as an employee of her father’s organization, appearing to have received “consulting fees” that were later deduced from paying taxes.

6) The presidency has helped Trump make money. It received more payments from lobbyists, politicians and foreign officials than was known until now, through its hotels and golf clubs. At Mar-A-Lago’s Property in South Florida alone, it earned $5 million from new members.

7) He obtained millionaire contracts in other countries during his first two years at the White House. The Philippines awarded him $3 million; India, 2.3 million and Turkey 1 million.

8) Made his biggest fortune selling his personal image: between 2004 and 2018, Trump earned more than $427 million. With the proceeds from his participation in the television series The Apprentice (2004 – 2017 on NBC), Trump bought more than 10 golf courses.

9) You have large outstanding debts. In addition to the $100 million it could owe the IRS, it has a $100 million mortgage outstanding that expires in 2022. In total, it could owe about $421 million.

10) A bankrupt president? If he wins re-election in November and fails to get a way to pay his creditors, many of them would find themselves in the unlished position of having to sew the assets of a functioning representative. In the event that you lose, you must find a way to pay off your debts or expose yourself to the consequences of defaulting.

Latest article

Walter Mercado’s horoscope: here what the universe holds for you this Monday 05-10-2020

Walter Mercado's horoscope is undoubtedly a guide for the followers of the late astrologer. Betty B. Mercado, niece and collaborator of Walter Mercado, continues...

Delta Storm forms in Caribbean and Cuba is on hurricane alert

Tropical Storm Delta formed in the northwest Caribbean Sea on Monday and could turn into a hurricane as it passes near Cuba, which is...

What about the check? House of Representatives approves $2.2 trillion economic relief package

The House of Representatives narrowly approved on Thursday an amended version of an economic relief package against the COVID-19 pandemic for $2.2 trillion, which...

Moderator Chris Wallace fails to stop interruptions in first debate

He is known as a tough interviewer, but Chris Wallace struggled Tuesday night to moderate the presidential debate, without being able to control a...

Poll: Americans fear foreign interference

Most Americans are at least concerned about the potential for foreign interference in the November election and most believe that Russia tried to influence...

What is the experimental antibody treatment given to the president Donald Trump

After being diagnosed as positive for COVID-19, President Donald Trump received an experimental drug, the White House said this Friday. "As a precautionary measure, it...