NY Times: Trump paid $750 in US income taxes in 2016, 2017

President Donald Trump paid just $750 in federal income taxes the year he ran for president and in his first year in the White House, according to a report Sunday in The New York Times.

Trump, who has fiercely guarded his tax filings and is the only president in modern times not to make them public, paid no federal income taxes in 10 of the past 15 years.

The details of the tax filings complicate Trump’s description of himself as a shrewd and patriotic businessman, revealing instead a series of financial losses and income from abroad that could come into conflict with his responsibilities as president. The president’s financial disclosures indicated he earned at least $434.9 million in 2018, but the tax filings reported a $47.4 million loss.

The tax filings also illustrate how a reputed billionaire could pay little to nothing in taxes, while someone in the middle class

Read More Read more

Alpine Income Property Trust, Inc. Announces Sale of Income Property Leased to Outback Steakhouse for Approximately $5.1

Alpine Income Property Trust, Inc. Announces Sale of Income Property Leased to
Outback Steakhouse for Approximately $5.1 Million

DAYTONA BEACH, Fla., Sept. 28, 2020 (GLOBE NEWSWIRE) -- Alpine Income Property
Trust, Inc. (NYSE: PINE) (the “Company”) announced the disposition of a
single-tenant net-leased casual dining retail income property (the “Property”)
located in Charlottesville, Virginia and leased to Outback Steakhouse. The
Property was sold for approximately $5.1 million, representing an in-place cap
rate of 5.75% and generating a gain of approximately $291,000 or $0.03 per
diluted share. The Company anticipates utilizing the proceeds from the sale of
the Property as part of a like-kind 1031 exchange.

Adjusting for the sale of the Property, the Company’s portfolio now consists
of 44 properties located in 31 markets and 17 states across 16 industries,
with a weighted average remaining lease term of 8.6 years.

John P. Albright, President & CEO commented, “We are pleased 
Read More Read more

Trump likely paid less in federal income tax than average middle class American

“His income tax burden is certainly much lower than the average taxpayer,” said Brian Galle, a law professor and tax expert at Georgetown Law. “He’s likely paying less than the shoe-shine guy who works in the foyer of the Trump Tower.”

The Times’ disclosure of Trump’s shockingly low federal income payments prompted an outpouring of criticism of what appeared to be his unusually aggressive attempts to evade obligations to the Internal Revenue Service. The Times’ report reveals that Trump also appears to have stretched the boundaries of deductions that allow firms to lower their federal tax burdens on losses and expenses, for instance by paying his daughter Ivanka Trump consulting fees that the firm later claimed as a tax write-off.

Alan Garten, a lawyer for the Trump Organization, said the story was filled with inaccuracies and told The Washington Post in a statement: “Over the past decade the President has

Read More Read more