Tag: Ivanka

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

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Ivanka Trump likely received ‘consulting fees’ to reduce Donald’s taxes

Ivanka Trump was allegedly paid consulting fees that were deducted as a business expense on President Donald Trump’s taxes.

President Donald Trump‘s tax returns from the past decade were released by the New York Times and the information revealed led to new conclusions about his financial activity.

Read More: Ivanka Trump, Jared Kushner earned at least $36 million in outside income in 2019: report

Beyond not having paid taxes for 10 of 15 of the years the information chronicled and only paying $750 during recent years, between 2010 and 2018, POTUS wrote off as business expenses totaling $26 million in “consulting fees.” While in the documents, no consultants are listed by name, the NYT aligned the financial records to information shared by Ivanka Trump.

WASHINGTON, DC – AUGUST 27: Ivanka Trump, daughter of U.S. President Donald Trump and White House senior adviser, addresses attendees as Trump prepares to deliver his acceptance speech for the Republican presidential nomination on the South Lawn of the White House August 27, 2020 in Washington, DC. Trump is scheduled to deliver the speech in front of 1500 invited guests. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC – AUGUST 27: Ivanka Trump, daughter of U.S. President Donald Trump and White House senior adviser, addresses attendees as Trump prepares to
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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

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The Daily 202: Ivanka Trump’s ‘consulting fees’ and Rick Gates’s book underscore depths of presidential nepotism

According to tax returns obtained by the New York Times for a story published Sunday evening, Trump himself paid nothing in federal income tax that year. Obama had reduced his tax burden for 2011 by donating $172,130 to 39 charities, and he said at the time that he believed he should be paying more in taxes. Trump reduced his tax burden to nothing by, among other things, claiming gargantuan losses on various investments.

Trump paid no federal income taxes in 11 of 18 years that the Times obtained his confidential tax filings from. In 2017, after he took office, Trump’s tax bill was only $750. It was the same in 2018.

Attacking Obama for paying 20.5 percent of his income in taxes while paying nothing himself is just the latest illustration of Trump’s hypocrisy. He campaigns as a populist but governs as a plutocrat. Now the self-proclaimed billionaire seeks a

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New York Times Report Alleges Ivanka Trump Received Huge Consulting Fees From Dad’s Company

KEY POINTS

  • Tax documents acquired by the New York Times show that an unnamed consultant received a fifth of the profits from many Trump Organization projects as tax-deductible fees
  • Public financial disclosures show that Ivanka Trump received payments exactly matching the fees. People involved with the projects have no recollection of any outside contractors
  • A similar 2011 case brought by the IRS against a firm dodging taxes by funneling money through their own contracting companies was decided in favor of the IRS

Among the many dubious dealings alleged by a New York Times report on Donald Trump’s tax returns is funneling millions in consulting fees to his daughter Ivanka Trump,  passing down his wealth while writing it off as an expense to avoid paying taxes on the gift.

The action would mirror the transfer of wealth to Donald Trump from his father, Fred Trump, which a separate Times investigation alleged

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Financial records appear to show Ivanka Trump got ‘consulting fees’ to reduce father’s tax bill

The New York Times has obtained tax return data for President Trump covering more than two decades, which shows that Trump paid only $750 in federal income taxes in 2016 and 2017 and paid no federal income taxes in 10 of the last 15 years, primarily because he reported losing more money than he made.

Trump has not made his tax filings public, and the information made its way to the Times via sources with legal access to it. The filings contain information Trump disclosed to the Internal Revenue Service, but do not reveal his net worth. Trump has said his tax returns aren’t as important as the annual financial disclosures he must submit as president, and comparing the two, the Times found that in 2018, Trump put in his disclosure he made at least $434.9 million, while the tax records show he incurred $47.4 million in losses.

During Trump’s

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