$70,000 on hairstyling – Donald Trump's taxes in
numbers
Here are some surprising things we’ve learned about
the US president’s finances
Martin
Belam
Mon 28 Sep
2020 11.44 BSTLast modified on Mon 28 Sep 2020 12.57 BST
The shocking claim that Donald Trump paid only $750 in
federal taxes has dominated headlines after a New York Times report into his
financial affairs, but it is far from the only surprising sum exposed by the
documents. Here are some of the key figures:
$750
Federal tax
Trump paid in 2016, when he won the presidency.
Federal tax
Trump paid the following year.
Zero
Federal tax
paid by Trump in 10 of the previous 15 years, including 2014 and 2015.
$100,000 a
year
By
comparison, the kind of figure regularly paid in federal taxes by Trump’s
predecessors, Barack Obama and George W Bush
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$70,000
Paid to
style Trump’s hair for television, claimed as expenses.
$95,464
The total
sum nine of Trump’s companies have paid as expenses to style Ivanka Trump’s
hair.
$210,000
The amount
written off as expenses to hire a photographer taking photographs at the
Mar-a-Lago club.
$26m
“Consulting
fees” charged as a business expense between 2010 and 2018, at least some of
which appears to have been directed to a company co-owned by Ivanka Trump.
$434m
What Trump
declared his earnings to be in the 2018 presidential public annual financial
disclosure.
$47.4m in
losses
What he had
declared to the Internal Revenue Service (IRS) for tax purposes over the same
period.
$421m
Outstanding
loans that Trump owes, most of which becomes due within the next four years.
$73m
Revenue
generated from outside the US, presenting a potential conflict of interest with
US foreign policy.
$13m
Earned in
one licensing deal for Trump Towers in Istanbul, including $1m since he became
president.
$72.9m
The tax
refund Trump claimed and was awarded, which is now the subject of a decade-long
audit battle with the IRS. It covered all the federal tax he had paid between
2005 and 2008.
$1.4m
The annual
average amount of federal tax paid by Trump between 2000 and 2017. It compares
with the $25m in federal income taxes the average American with similar
declared earnings could expect to pay.
$100m
The amount
Trump could now have to pay back to the IRS, including penalties, if it finds
against him in the audit.
$315m
The sum
reported “lost” by Trump’s golf courses since 2000.
‘Tens of
millions of dollars’
What Alan
Garten, a lawyer for the Trump Organization, claims the president has paid in
personal taxes since 2015.
More than
500
The number
of individual companies, many bearing the Trump name, that make up the nebulous
corporate network generally referred to as the Trump Organization.
The
president has denied the reports, describing them in a White House press
conference on Sunday as “fake news”.
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