On stand, accountant confirms Trump claimed huge tax losses

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Donald Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010, his longtime accountant testified Tuesday, regarding the former president’s tax practices. I have long suspected confirmed.

Donald Bender, a partner at Mazars USA LLP who spent years preparing Trump’s personal tax returns, said Trump’s loss reporting from 2009 to 2018 included the net operations of some of his many businesses through his Trump Organization. losses are included.

“There are losses for all these years,” said Bender, who was granted immunity to testify at the company’s criminal tax fraud trial in Manhattan.

The short exchange marked a rare public discussion of Trump’s taxes – which Republicans have fought to keep secret – even though there is no apparent connection to the case.

Susan Hoffinger, a prosecutor, briefly questioned Bender about Trump’s taxes on cross-examination, at one point showing him copies of Trump tax paperwork that the Manhattan District Attorney’s office had sought to obtain before moving on to other topics. Struggled for three years.

The Trump Organization, the holding company for Trump’s buildings, golf courses and other properties, has been accused of helping some top officials avoid income taxes on compensation they received in addition to their salaries, including rent-free apartments and luxury cars Huh. If found guilty, the company could be fined more than $1 million.

Trump has not been charged in the case and is not expected to testify or attend the trial. The company’s former finance chief testified that he came up with the plan on his own, without knowing Trump or the Trump family. Alan Wesselberg testified as part of a plea deal that the company also benefited because he did not have to pay as much in wages.

Bender’s testimony came on a day filled with legal drama related to Trump, with the US Supreme Court clearing the way for Congress to obtain six years’ worth of tax returns for Trump and some of his businesses.

Also on Tuesday, the judge in New York Attorney General Letitia James’ civil fraud trial against Trump and his company set an October 2023 trial date; A federal appeals court heard arguments in the FBI’s investigation of the Mar-a-Lago documents; And Trump aide Sen. Lindsey Graham testified before a Georgia grand jury probing alleged interference in the 2020 election.

Bender’s tax loss testimony echoed a report by The New York Times in 2020, when it obtained a set of Trump’s tax returns. Newspapers reported at the time that many record massive losses and pay little or no taxes.

The Times reported that Trump paid no income tax in 11 of the 18 years for which his records were reviewed, and that he paid just $750 in federal income tax in 2017, the year he became president. Citing other Trump tax records, The Times previously reported that he claimed a $915.7 million loss in 1995, which he could use to avoid future taxes under the law at the time.

Manhattan prosecutors subpoenaed Bender’s firm in 2019, seeking access to eight years of Trump’s tax returns and related documents, finally getting them after a protracted legal battle that included two trips to the US Supreme Court.

Bender handled tax returns and other financial matters for Trump, the Trump Organization, and hundreds of Trump entities beginning in the 1980s. He also prepared taxes for members of Trump’s family and other company executives, including Wesselberg and Wesselberg’s sons, who managed the company-operated ice rink in Central Park.

Wesselberg, who pleaded guilty in August to dodging taxes on an additional $1.7 million in exchange for a five-month prison sentence, testified that he had used company-paid extras such as Manhattan apartments and Mercedes-Benz cars. hid from his taxable income. The comptroller, Jeffrey McConkey, lowers his salary by the cost of those perks.

Bender testified that Weiselberg kept him in the dark about that arrangement – and that he found out about it last year from prosecutors.

But emails shown in court Tuesday suggested McConkey tried to loop him in early 2013 with an attached spreadsheet listing…

On stand, accountant confirms Trump claimed huge tax losses

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