Tribulations, Tax and Trump

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The leaked documents have also shown that over the past 18 years Trump has paid about $95 million in federal income taxes but starting in 2010 he managed to recoup a large chunk of that money when he received the $72.9 million. It would make his average yearly contribution $1.4 million, while other wealthy Americans paid an average of $25 million annually in the same time period.

His dubious definition of what constitutes a ‘business expense’ is also being highlighted by his leaked tax returns. Classing his many residences, golf courses, aircraft and even his haircuts (he apparently spent an astonishing $70,000 on styling his hair during his time at The Apprentice) as a business expense. Most alarmingly, he has classified his Seven Springs estate in Westchester County, N.Y. as an ‘investment property’ not a personal residence. This has allowed him to avoid $2.2 million in property taxes since 2014.

 

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