The president paid $750 in federal income taxes thanks to an element of the tax code that's working as intended
, Amazon consistently operated at a loss, losing a combined $2.8 billion during that span. Amazon's strategy was to direct more funds towards growing the company and acquiring market share. And Amazon's strategy took it from an online book seller to the e-commerce giant it is today. The average investor can use a similar tax rule, too. The IRS allows a, which allows an investor to sell a stock or a mutual fund at a loss and then use it to offset capital gains.
In the case of President Trump, the mechanics are similar. The Times reported that Trump lost $47.4 million in 2018. In 2016, the Times obtained portions of Trump's 1995 taxes in which he declared losses of $915.7 million — a loss that would have allowed him to offset his income tax for decades. "All assets have a 'shelf life,' or a useful time period," said Courtney Richardson, practicing attorney and founder of the Ivy Investor. "Depreciation allows business owners to reduce the value of that asset over a certain time period to basically account for wear and tear."
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Inside Donald Trump's 8 properties, from New York to St. Martin - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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Trump reportedly paid just $750 in federal taxes in 2016 and 2017 — and nothing in 10 of past 15 yearsDonald Trump paid no federal income tax in 10 of the past 15 years, and just $750 in federal taxes in 2016 and 2017, the New York Times reported Sunday.
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Trump paid just $750 in federal income taxes in 2016 and 2017: NYT - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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Trump Dismisses 'New York Times' Reporting That He Paid Little In Federal Income TaxesThe lengthy story found that Trump paid $750 in federal income taxes each year in 2016 and in 2017, and that he paid no income taxes at all in 10 of the previous 15 years, as he reported massive losses to his businesses.
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Trump reportedly paid $750 in taxes in 2016 and 2017. Here's how much the average American paysPresident Donald Trump paid $750 in individual federal income taxes in 2016 and 2017, according to a report from The New York Times, less than many individuals and households in the U.S.
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The Key Takeaways From the Times’ Trump Tax Return InvestigationThe president paid just $750 in federal income taxes the year he was elected and is facing a growing personal debt crisis.
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