When he testified before Congress in 2017, Mr. Futerfas was by his side. The data contains no new revelations about the $130,000 payment to Stephanie Clifford, the actress who performs as Stormy Daniels — a focus of the Manhattan district attorney’s subpoena for Mr. Trump’s tax returns and other financial information. The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow. Here’s how his accountants arrived at that figure in 2017. The Supreme Court fight may reshape a neck-and-neck race — a New York Times/Siena College poll this month found Trump and Biden effectively in a dead heat in North Carolina. He now lobbies on behalf of Turkish business interests. This past weekend, the New York Times allegedly acquired President Trump's tax records for at least the past 15 years. He once boasted that his tax returns were “very big” and “beautiful.” But making them public? Tax records do not have the specificity to evaluate the legitimacy of every business expense Mr. Trump claims to reduce his taxable income — for instance, without any explanation in his returns, the general and administrative expenses at his Bedminster golf club in New Jersey increased fivefold from 2016 to 2017. The types and amounts of income that can be used in a given year vary, depending on an owner’s tax status. “The Apprentice,” along with endorsements and other income that sprang from his growing fame, brought Donald Trump $427.4 million. The committee interviewed a top Miss Universe executive, Paula Shugart, who said the Agalarovs offered to underwrite the event; their family business, Crocus Group, paid a $6 million licensing fee and another $6 million in expenses. Indeed, in some instances where large fees were claimed, people with direct knowledge of the projects were not aware of any outside consultants who would have been paid. The New York Times - WASHINGTON — Donald J. Trump has left the White House. In 2014, Mr. Trump classified the estate as an investment property, as distinct from a personal residence. The ultimate goal was nothing less than “reorienting the U.S. supply chain away from China.”. Mr. Trump was periodically required to pay a parallel income tax called the alternative minimum tax, created as a tripwire to prevent wealthy people from using huge deductions, including business losses, to entirely wipe out their tax liabilities. To claim the deduction, the consulting arrangement must be an “ordinary and necessary” part of running the business, with fees that are reasonable and market-based, according to the I.R.S. Whether or not Seven Springs fits those criteria, the Trumps have described the property somewhat differently. To delve into the records is to see up close the complex structure of the president’s business interests — and the depth of his entanglements. Helping to reduce Mr. Trump’s tax bills are unidentified consultants’ fees, … Unleashing that giant tax-avoidance coupon enabled him to receive some or all of his refund. His financial disclosure released in July showed that he had as little as $873,000 in securities left to sell. Donald Trump, a self-proclaimed billionaire, paid only $750 in federal income taxes in the year he was elected US president, according to a stunning New … The recipient of the fees is still required to pay income tax. To submit a letter to the editor for publication, write to, Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance. “It’s very complicated.” He often claims that he cannot do so while under audit — an argument refuted by his own I.R.S. Each of the last three presidential races in the state has been decided by less than four percentage points. The contents of thousands of personal and business tax records fill in financial details that have been withheld for years. A similarly lopsided share in all of those demographics expressed support for the Affordable Care Act. It did not take long for conflicts to emerge when Mr. Trump ran for president and won. The tax records show the deal has earned Mr. Trump at least $13 million — far more than previously known — including more than $1 million since he entered the White House, even as his onetime associate now lobbies on behalf of Turkish interests. Most every political veteran in North Carolina — Democrat or Republican — is expecting a close race. Mr. Trump has a 30 percent stake in two valuable office towers, including one in Midtown Manhattan, shared with and managed by Vornado Realty Trust. The records that The Times reviewed square with the way Mr. Trump has repeatedly cited, without explanation, an ongoing audit as grounds for refusing to release his tax returns. The documents chart a great churn of money, but while returns report debts, they often do not identify lenders. Analysts have predicted that the hotel business will not fully recover until late 2023. ... Trump taxes is the $75K deduction for haircuts. After Mr. Trump’s bondholders rebuffed his offer to buy them out, and with a third round of bankruptcy only a week away, Mr. Trump announced in February 2009 that he was quitting the board of directors. “We had a deal done. Now business owners could request full refunds of taxes paid in the prior four years, and 50 percent of those from the year before that. But the full financial measure of his extraordinary confluence of interests — a president with a wealth of business entanglements at home and in myriad geopolitical hot spots — has remained elusive. In Azerbaijan, he collected more than $5 million for the failed hotel project, about twice what appeared on his public filings. Profits there rose sharply after Mr. Trump declared his candidacy, as courtiers eagerly joining up brought a tenfold rise in cash from initiation fees — from $664,000 in 2014 to just under $6 million in 2016, even before Mr. Trump doubled the cost of initiation in January 2017. Mr. Trump has written off as business expenses costs — including fuel and meals — associated with his aircraft, used to shuttle him among his various homes and properties. Vornado’s chief executive, Steven Roth, is a close Trump ally recently named to the White House economic recovery council. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president. Protesters who support and oppose President Trump’s Supreme Court nominee squared off on Sunday outside the Supreme Court Building. The balances on those loans had not been paid down by the end of 2018. He reported paying taxes, in turn, on a number of his overseas ventures. The candidates on the ballot this year are trying to adjust. the president’s tax-return data going back over two decades, interactive timeline of his finances here, Trump called the Times report “fake news.”. It does not include his personal returns for 2018 or 2019. With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Trump’s charitable donations are already under investigation in New York, and his tax returns show that he also committed federal tax fraud. The Democratic nominee was powered in particular by strong support from independents, women and college-educated white voters. rules governing the most beneficial, and perhaps aggressive, method for business owners to avoid taxes when separating from a business. House Democrats who have been in hot pursuit of Mr. Trump’s tax returns most likely have no idea that at least some of the records are sitting in a congressional office building. For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. And within the next four years, more than $300 million in loans — obligations for which he is personally responsible — will come due. Over all, since 2000, Mr. Trump has reported losses of $315.6 million at the golf courses that are his prized possessions. At Doral, after Mr. Trump declared his candidacy in June 2015, credit card revenue more than doubled, to $13 million, for the three months through August, compared with the same period the year before. In polls conducted after Ginsburg’s death, a majority of voters — both nationwide and in some key swing states — have said that they think the winner of the November election should be allowed to pick the next Supreme Court justice. Courts have held that to treat residences as businesses for tax purposes, owners must show that they have “an actual and honest objective of making a profit,” typically by making substantial efforts to rent the property and eventually generating income. “If I’m not going to run it, I don’t want to be involved in it,” he told The Associated Press. It’s Monday, and this is your politics tip sheet. At a news conference on Sunday night, Trump called the Times report “fake news.” As he has said falsely in the past, he claimed that he would release his tax returns to the public once he was no longer under audit. The records also provide the first reliable window onto his finances before 2014, the earliest year covered by his required annual disclosures, showing that his total profits from some projects outside the United States were larger than indicated by those limited public filings. The amount, however, could have been improperly included in legal fees written off as a business expense, which are not required to be itemized on tax returns. The Times was also able to take the fullest measure to date of the president’s income from overseas, where he holds ultimate sway over American diplomacy. When prosecutors and congressional investigators issued subpoenas for his returns, he wielded not just his private lawyers but also the power of his Justice Department to stalemate them all the way to the Supreme Court. He did, however, write that it was “illogical” to say Mr. Trump had not paid taxes for those three years just because the money was later refunded. This article also draws upon dozens of interviews and previously unreported material from other sources, both public and confidential. If it did, that 5 percent could place his entire refund in question. He also received $21.2 million in state and local refunds, which often piggyback on federal filings. Mr. Trump instead found a way to reap tax benefits from the estate. His three courses in Europe — two in Scotland and one in Ireland — have reported a combined $63.6 million in losses. Last year, the president appointed Mr. Roth’s wife, Daryl Roth, to the Kennedy Center board of trustees. Of course, we would expect that the … Did he write off as a business expense the hush-money payment to the pornographic film star Stormy Daniels in the days before the 2016 election? Mr. Trump’s elaborate dance and defiance have only stoked suspicion about what secrets might lie hidden in his taxes. In exchange, he claimed a $21.1 million charitable tax deduction. Senate Republicans have a rough timeline for the confirmation of Judge Amy Coney Barrett, whom Trump named on Saturday as his pick to succeed Justice Ruth Bader Ginsburg on the Supreme Court. By more than 3 to 1, voters expressed approval of the Roe decision. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. Mr. Trump’s avoidance of income taxes is one of the most striking discoveries in his tax returns, especially given the vast wash of income itemized elsewhere in those filings. While his use of these deductions is widely known, his tax records show that they represent the lion’s share of his charitable giving — about $119.3 million of roughly $130 million in personal and corporate charitable contributions reported to the I.R.S. “I love depreciation,” Mr. Trump said during a presidential debate in 2016. He paid no federal income taxes for 2014. Trump has been saying that he wasn’t releasing his taxes because he was under audit. New York Times: Trump paid no income taxes in 10 out of 15 years beginning in 2000 Trump refused to talk about his tax returns and blasted the Times … Investigators were examining Donald Jr.’s role in the 2016 Trump Tower meeting with Russians who had promised damaging information on Mrs. Clinton. Mike McIntire. One is about Trump. The language was crucial. But the tax returns reveal that he has failed to pay back far more money than previously known: a total of $287 million since 2010. Seven Springs is a throwback to another era. Donald J. Trump paid $750 in federal income taxes the year he won the presidency. Since 2000, he has reported losing $315.6 million at his golf courses. has questioned Mr. Trump’s practice of deducting millions of dollars in consulting fees. If the recent Fox interview is any indication, Mr. Trump seems increasingly agitated about the matter. In the spring of 2016, with Mr. Trump closing in on the Republican nomination, the case was sent back to the committee. In 2013, he withdrew $95.8 million from his Vornado partnership account. Mr. Trump has often posited that his losses are more accounting magic than actual money out the door. From his homes, his aircraft — and $70,000 on hair … By Mr. Trump had paid no income taxes in 2008. Now his tax records make clear that he is facing a battery of threats to his business and his own financial well-being. Even so, it has its limits. But tax records show regular deductions for consulting fees over seven years totaling $2 million. “It was home base for us for a long, long time,” Eric told Forbes. over to lament what the virus has wrought and suggest a few places in town that remain open. The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. As The Times’s previous reporting on his 1995 return showed, the nearly $1 billion in losses from his early-1990s collapse generated a tax deduction that he could use for up to 18 years going forward. In 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $15,598 he or his companies paid in Panama, the $145,400 in India and the $156,824 in the Philippines. 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