US President Donald Trump says he paid 'many millions of dollars in taxes' but was entitled to depreciation and tax credits and also said he was under-leveraged, having more assets than debt.
US President Donald Trump says he paid"many millions of dollars in taxes" but was entitled to depreciation and tax credits and also said he was under-leveraged, having more assets than debt.New York Times report that he paid just $750 in federal income taxes in both 2016 and 2017"I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits," he wrote on Twitter.
Mr Trump has hundreds of millions of dollars in debt amid chronic business losses that he uses to avoid paying taxes, the Times reported. It said it has obtained tax-return data covering more than two decades for Mr Trump and his businesses.Mr Trump’s reported debts raise national security issues, US House of Representatives Speaker Nancy Pelosi said, as the public deserves to know to whom he owes money because it could be used as leverage against him.
Mr Trump departed from decades of tradition among presidents and presidential candidates when he refused to release his federal income tax returns the first time he ran for president in 2016. He says it is because he is under audit by the Internal Revenue Service but the agency has said there is no reason he cannot release his taxes while under audit.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donald Trump paid just $750 in US income taxes in 2016, 2017: reportAccording to the report in the New York Times, the President has treated daughter Ivanka as a consultant, and then deducted payments worth hundreds of thousands of dollars to her as a cost of doing business.
Read more »
Donald Trump paid just $750 in US income taxes in 2016, 2017: reportPresident Donald Trump paid no federal income taxes in 10 of the past 15 years, according to a report in the New York Times.
Read more »
Donald Trump nominates Amy Coney Barrett for Ruth Bader Ginsburg's Supreme Court seatDespite debate raging over whether he should honour Ruth Bader Ginsburg's dying wish to leave her Supreme Court vacant until after the election, Donald Trump names the 48-year-old devout Roman Catholic judge as her replacement.
Read more »
'Certainly possible': Donald Trump says Amy Coney Barrett could help Supreme Court upend abortion lawsUS President Donald Trump's latest Supreme Court nominee, Amy Coney Barrett, would give the nine-member court six conservative justices - if she is confirmed by the Senate.
Read more »
Donald Trump dismisses report he hasn't paid income tax in 10 of the past 15 yearsMr Trump is the only President in modern times not to make his tax records public, but a report alleges he paid no federal income taxes at all in 10 of the past 15 years.
Read more »
Donald Trump announces conservative judge Amy Coney Barrett as his Supreme Court pickPresident Donald Trump on Saturday announced conservative appellate judge Amy Coney Barrett as his third US Supreme Court appointment, setting off a scramble in the Republican-led Senate to confirm her before Election Day.
Read more »