How much does Donald Trump pay in taxes on his golf courses?
This strange maneuver has allowed Trump to pay an estimated property tax of only $1,000 a year for his enormous golf courses, on property that would normally get taxed at $80,000 a year, in a state that claims some of the highest property taxes in the United States.
What went wrong at Trump’s golf course?
Poor maintenance of the Trump system also caused debris such as boulders and branches to flow from the golf course into the village drains, it is alleged, causing a blockage so severe that a manhole in the village playing fields burst open and “became a geyser spewing water”.
Why did Trump build a rock barrier around his Irish golf courses?
They wanted to make a clearer view for guests. Perhaps the most notable battle between a Trump golf course and conservation groups occurred in Ireland, according to the Independent, when Trump's desire to erect a giant rock barrier around three holes of his resort ran into an unexpectedly resilient foe: an itty-bitty little snail.
Why are Trump's golf courses considered financial sinks?
One confusing detail about many of Trump's golf courses is that despite the big tournaments, glitzy decorations, and perfect green grass, they are financial "sinks," i.e., they've lost money, rather than making it.
Trump's losses aren't 'normal'
Trump has two golf resorts in Scotland. He opened the first, Trump International Golf Links, in Aberdeenshire in 2012 on a piece of land he had purchased six years before. The course has lost money every year since.
Trump said his golf courses were 'not really golf investments'
Trump said in a 2016 interview with Reuters that people looking at the massive losses at his golf resorts were missing the point.
Is it simply incompetence?
"Stupidity and grandiosity should never be overlooked as possible grounds for all of this," said Daniel Shaviro, the Wayne Perry Professor of Taxation at New York University Law School, who wrote about Trump's tax returns last year.
Are they being kept for 'fishy' tax purposes?
Companies House accounts showed that Golf Recreation Scotland, Turnberry's parent company, depends on an eye-watering amount of debt — around $160 million — owed to its parent company, the Donald J. Trump Revocable Trust, which is registered in New York.
Trump's 'unexplained' funding for his golf courses
A group of Scottish lawmakers led by the Green Party's Patrick Harvie this year called for an "unexplained wealth order" over Trump's finances. Their central question: Where did Trump get the money to pay for his resorts in the first place?
What is a golf course tax write off?
Basically, the deduction comes in the form of a tax write-off in exchange for creating "environmental easements," with golf course owners claiming they won't further develop their courses and preserve them as green space in perpetuity by donating the land to a government or conservation trust while maintaining ownership of it.
What is the purpose of the Trump easement?
The intended purpose, however, is to preserve green space. Trump has claimed these easements on at least four of his properties, including Trump National Golf Club in New Jersey, according to the Wall Street Journal.
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Despite the overall losses, the presidency seems to have helped Mr Trump generate revenue at his clubs.
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"The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits..." he wrote at the start of a series of tweets on Monday.
What caused the Trump National Golf Club to become a controversy?
Trump caused a commotion by arriving in a garish stretch limousine for a hearing of the village planning board that considered his plans in 1999.
Why is Ossining suing Trump?
The Republican presidential frontrunner is suing the town of Ossining in Westchester County to reduce the taxes on Trump National Golf Club, a 147-acre property with a lavish clubhouse and 18-hole course whose managers are separately accused of causing floods that led to $240,000 worth of damage to local public facilities.
How much did Donald Trump buy Briarcliff Manor?
Donald Trump bought the Briarcliff Manor golf course at foreclosure for about $8m in the mid-1990s. Photograph: Robert Kalfus/Splash News. Trump’s lawsuit in county court argues that the luxurious private club, which he bought in foreclosure for about $8m in the mid-1990s before spending what he claimed at the club’s opening event was another $45m ...
How many pages is Trump's valuation?
Attorneys for Trump did not respond to questions. Trump’s new valuation, however, contrasts with the 92-page financial disclosure document that he released to the US government as he embarked on his audacious campaign for the presidency last year.
Why did Trump accuse Vescio of flooding?
Trump claims that Vescio orchestrated the village’s flooding lawsuit against him as retaliation because Trump criticises his firm’s work on the public golf course as a “glaring example of taxpayer waste”. Vescio and the village manager, Phil Zegarelli, declined to comment.
Why is the infrastructure bill vote a big deal?
(CNN) The Supreme Court's rejection Monday of an attempt by Donald Trump to keep Manhattan District Attorney Cyrus Vance from seeing his tax returns (and other financial documents) was rightly cast as a major legal setback for the former President.
Did the Supreme Court reject the case against Cyrus Vance?
(CNN) The Supreme Court's rejection Monday of an attempt by Donald Trump to keep Manhattan District Attorney Cyrus Vance from seeing his tax returns (and other financial documents) was rightly cast as a major legal setback for the former President.
Why are Trump golf courses rebuked?
A few of Trump's golf courses have earned stern rebukes from environmental groups due to the damage their construction has caused or could cause to surrounding ecosystems. For example, the Guardian reported in 2018 that the golf resort in Aberdeenshire, Scotland, was guilty of partially destroying a fragile dune system composed of sands and plant life so unique that the area had previously been recognized as a site of special scientific interest by the Scottish Natural Heritage. Over in the United States, ABC says a Trump National Golf Course in Virginia was cited for cutting down trees in a protected area that was vulnerable to flooding, less than a decade after previously getting in trouble for chopping down another 400 trees. The justification? They wanted to make a clearer view for guests.
How many golf courses does Donald Trump own?
CNN reports that Trump currently owns 17 golf courses, to be exact, and you can find them pretty much anywhere golf is popular: not only up and down the East Coast United States, from Florida to New York, but also in countries like Scotland, the UAE, and Ireland.
Where did Eric Trump borrow his father's golf club?
Year after year, according to Forbes, Eric Trump has borrowed his father's Westchester, New York, golf club for the Eric Trump Foundation Golf Invitational: a ritzy charity event where million of dollars are donated to St. Jude's hospital to benefit kids with cancer. As the younger Trump tells it, the greatest advantage to his event is that since it's his father's golf course, he gets to rent it out for free so all the money goes toward helping children with cancer with little upfront cost.
Where did Donald Trump buy the Ritz-Carlton?
In 2012, Donald Trump purchased the Ritz-Carlton golf course in Jupiter, Florida, according to NBC, and for whatever reason, a group of previous members decided to ship out. Under the former rules of the agreement, these members were permitted to continue playing golf on the course until their replacements were found: like it or not, that's the contract they signed. When Trump caught wind of this, though, he wrote a letter to the members of the club saying that, as the new owner, he wanted them gone ASAP and these former rules no longer applied. According to USA Today, Trump also refused to give the former members their refundable deposits, some of which were as high as $210,000.
Where is Donald Trump's golf course?
Donald Trump is an avid golf fan, and he cares tremendously about his golf courses, but the one that has (in the past) held a special importance in his life has been the Trump National Golf Club in Bedminster, New Jersey.
Did Trump give the former members their refundable deposits?
According to USA Today, Trump also refused to give the former members their refundable deposits, some of which were as high as $210,000. Predictably enough, the old members weren't happy about being stiffed, so they joined together and filed a class-action lawsuit.
Did Donald Trump donate to Greenberg?
Trump ended up settling with Greenberg, agreeing to donate $158,000 to Greenberg's charitable foundation, according to Vox. The prize money didn't come directly from Trump himself, though. Rather, the check was written from Trump's "charity" organization, the Donald J. Trump Foundation, which has a pretty checkered record of charitable activities.