Sunday, 2 October 2016

Trump May Not Have Paid Taxes IN 18 Years

There is a new report by New York times which claims Republican Presidential Nominee Donald Trump may not have paid federal Taxes in 18 years!

 Donald Trump declared a loss of $916 million on his income tax returns for 1995, and — because of tax rules that favor wealthy real estate investors — he could have used that loss to avoid paying any federal income taxes for up to 18 years, according to the report in the New York Times

. By 1995, Trump’s businesses were actually in better shape. But he was able to use byzantine tax laws to use those prior losses to cancel out income taxes. By the Times’ calculations, Trump might have been able to earn $50 million a year for 18 years and still pay no federal income taxes — thanks to this one giant loss, and the resulting deductions.

The director of tax programs at the University of San Diego School of Law, confirmed that tax law allows losses of this size to be applied to returns three years prior to the loss and then for next 15 years.

 Trump's campaign released a statement after the report, but they did not dispute the facts of the documents .However, the statement said the document was obtained and published without Trump's permission.

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