Taxes and Accounting

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Video activity

TASK 1

Watch the video report about Donald Trump’s taxes and complete the gaps with the words you hear.

Reuters TV: Trump paid no income tax in 2020, records showhttps://www.youtube.com/watch?v=Phr-DqIVEgI

Donald Trump paid no during the final year of his presidency instead reporting a from his sprawling business interests. That's according to released by a democratic controlled Congressional panel after a multi-year legal fight over the former president's personal finances. The records show that Trump's and his fluctuated dramatically during his four years in the White House.

…I built a great company one of the best companies I have some of the greatest in the world…

And the cut against the Republicans long cultivated image as a successful businessman as he mounts another White House bid. Trump and his wife Melania paid some form of during all four years the documents showed but were able to their as income from Trump's businesses was more than offset by and . The committee questioned the legitimacy of some of those including one for 916 million dollars. The show that in 2017 the Trumps paid just seven hundred and fifty dollars in the next year the couple paid nearly 1 million dollars in 2019 they paid 134 thousand dollars and in 2020 they paid nothing.

Lawmakers obtained the after a years-long fight and voted on Tuesday to make them public. A Trump spokesman said the release of the documents was politically motivated. If this can happen to President Trump, it can happen to all Americans without cause,” Trump organization spokesman Stephen Chung said on Wednesday. Trump refused to make his public even though all other major party presidential candidates have done so for decades.

TASK 2

Based on the video, answer the questions.

  1. How much money in income tax did Donald Trump pay in the final year of his presidency?

    The book provides evidence of the consequences of the lack of sleep on our well-being and health and gives a state-of-the-union address on our current understanding of it.
  2. What did the records show?

    The records show that Trump's income and his tax liability fluctuated dramatically during his four years in the White House.
  3. How did he minimise the tax bill?

    Income from Trump's businesses was offset by deductions and losses.
  4. How much money did the Trumps pay in taxes from 2017 to 2020?

    The records show that in 2017 the Trumps paid just seven hundred and fifty dollars in federal income tax the next year the couple paid nearly 1 million dollars in 2019 they paid 134 thousand dollars and in 2020 they paid nothing.
  5. What did Mr Trump refuse to do?

    Trump refused to make his tax returns public even though all other major party presidential candidates have done so for decades.

(based on https://www.youtube.com/watch?v=Phr-DqIVEgI)