Post by ck4829 on Oct 4, 2016 11:47:59 GMT
Donald Trump's leaked returns highlight differences in the tax code for wealthy businesses and individuals and everyone else.
Trump claimed more than US$900 million in losses in 1995 that could have allowed the Republican presidential nominee avoid paying taxes for 18 years. That's according to a New York Times report based on pages from Trump's tax returns.
Experts say Trump used provisions available to wealthy business owners to lower his future liabilities. They allow him to claim losses for depreciations on real estate and other assets. In contrast, homeowners get no tax break when their homes lose value.
www.thestandard.com.hk/breaking-news.php?id=80252
This is a disparity that needs to be resisted for sure.
Trump claimed more than US$900 million in losses in 1995 that could have allowed the Republican presidential nominee avoid paying taxes for 18 years. That's according to a New York Times report based on pages from Trump's tax returns.
Experts say Trump used provisions available to wealthy business owners to lower his future liabilities. They allow him to claim losses for depreciations on real estate and other assets. In contrast, homeowners get no tax break when their homes lose value.
www.thestandard.com.hk/breaking-news.php?id=80252
This is a disparity that needs to be resisted for sure.