How Trump exploits historic architecture to avoid paying taxes

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Donald Trump paid no federal taxes in 10 of the past 15 years. That’s thanks in part to a tax break he is receiving for renovating a 1899 Romanesque Revival post office in Washington, D.C. The historic Old Post Office Building on Pennsylvania Avenue in Washington, D.C. had undergone multiple renovations, and it had been the subject of many schemes to turn a profit by the time Donald Trump and his company, the Trump Organization, leased the property in 2014. The company’s $200-million renovation of the building into the Trump International Hotel has been revealed as a key strategy in Trump’s long avoidance of federal taxes, according to documents acquired by the New York Times . Read Full Story

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Trump tax returns: Top 5 jaw-droppers from the NYT exposé

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Trump not only paid less than most rich people in prior tax years but less than most lower and middle-class Americans. Last night The New York Times published a bombshell of a report : information on almost two decades of Donald Trump’s tax returns. The returns have been the holy grail of many a journalist and political opponent ever since Trump announced his run for the presidency in 2015. Read Full Story

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The IRS tax deadline just got pushed to July if you fit in this bracket (and you probably do)

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For now only some states, such as California and Maryland, announced changes to aid taxpayers. Millions of Americans no longer have to worry about getting their 2019 federal income taxes together by April 15, Treasury Secretary Steven Mnuchin announced today. While the Trump administration has offered little direct support for workers hit by the coronavirus pandemic, the Feds are pushing Tax Day back by 90 days for qualifying Americans. Read Full Story

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What the Federal Budget means for the marketing industry

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The Federal Budget’s investment into digitisation, younger job seeker support, hefty tax write-offs and income tax cuts are being generally welcomed as big business boosters for recovering from the COVID-inspired economic crisis. Yet views on whether the Government’s skills and hiring emphasis will directly benefit the marketing and advertising industry diverge.

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There was a time when the rich bragged about how much they paid in taxes

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In ancient Athens, paying a massive tax bill was a badge of honor. In ancient Athens, only the very wealthiest people paid direct taxes, and these went to fund the city-state’s most important national expenses—the navy and honors for the gods. While today it might sound astonishing, most of these top taxpayers not only paid happily, but boasted about how much they paid. Read Full Story

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Stimulus update: Talks resume on second checks, extra unemployment. Should we hold our breath?

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Steve Mnuchin and Nancy Pelosi are reportedly back at the table. Are there reasons to be optimistic this time? On Tuesday, your hopes of receiving another stimulus check and more federal unemployment this year were seemingly dashed when President Trump ended negotiations on a congressional stimulus bill until after the election. But today is Friday! And negotiations are happening again. Here’s the latest update as we head into the weekend: Read Full Story

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IRS stimulus check timeline: This is when yours could get mailed if you’re expecting a paper one

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The Treasury Department is downplaying estimates that suggest the final checks won’t arrive until September. Only time will tell. If you haven’t already received your Economic Impact Payment via direct deposit and are expecting it to come in the mail instead, your stimulus check’s arrival date depends on two details: Your income level in your 2019 taxes (or, if you haven’t filed yet, your 2018 taxes), and whether or not you filed taxes jointly last year. Read Full Story

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