Tag: deducted

NYT report indicates Trump paid Ivanka $747,622 in consulting fees, then deducted them from taxes

(NEXSTAR) – The bombshell New York Times report on President Donald Trump’s supposed history of avoiding taxes has begun to trickle out into a number of interesting findings, among them is an apparent tax deduction for fees paid to his daughter’s consulting company.

The Times found that Trump routinely set aside nearly 20 percent of his income for unexplained consulting fees on his projects. Those fees could be written off as a business expense, lowering the amount of profit subject to taxation.

Though the documents don’t name the president’s daughter as a recipient, matching filings from both Donald and Ivanka Trump led the paper to report that she was the likely recipient of the fees, despite having been a top Trump Organization executive.

“Mr. Trump’s private records show that his company once paid $747,622 in fees to an unnamed consultant for hotel projects in Hawaii and Vancouver, British Columbia. Ivanka

Read More

Trump paid his daughter Ivanka $747,622 for ‘consulting,’ then deducted it from his taxes, according to a New York Times investigation



Donald Trump, Ivanka Trump are posing for a picture: President Donald Trump appeared to pay his eldest daughter, Ivanka Trump, more than $700,000 in "consulting fees" related to hotel deals she was already responsible for, The New York Times found. Drew Angerer/Getty Images


© Drew Angerer/Getty Images
President Donald Trump appeared to pay his eldest daughter, Ivanka Trump, more than $700,000 in “consulting fees” related to hotel deals she was already responsible for, The New York Times found. Drew Angerer/Getty Images

  • A New York Times investigation into President Donald Trump’s tax filings found that from 2010 to 2018, Trump wrote off about $26 million in unexplained consulting fees.
  • Among them was $747,622 written off by the Trump Organization, the same amount his daughter Ivanka Trump reported receiving in consulting fees, according to The Times.
  • The payment appeared to be related to managing hotel deals that were already part of her job, according to the newspaper. Reporters matched the number to one his daughter disclosed when she joined the White House in 2017.
  • Visit Insider’s homepage for more stories.

President Donald Trump once appeared to pay his eldest daughter, Ivanka Trump, $747,622 in “consulting

Read More