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Reply to "The BIG ONE: 20 years of Trump taxes obtained by NYTs"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So what about the taxes on his $400,000 presidential salary?[/quote] Already answered, he donates his salary so no taxes are due on it. [/quote] To whom does he donate his salary? With very limited exceptions, charitable contributions are limited to 50% of your AGI. [/quote] I am not sure if it is one single entity, but department of health and human services is one I remember. [/quote] He gives back his government paychecks to government agencies. They’re not charities.[/quote] For purposes of a charitable deduction, they are the same. Please refer to IRC Pub. 526 - Publication 526 (2019), Charitable Contributions "Organizations That Qualify To Receive Deductible Contributions The United States or any state, the District of Columbia, a U.S. possession (including Puerto Rico), a political subdivision of a state or U.S. possession, or an Indian tribal government or any of its subdivisions that perform substantial government functions. (Your contribution to this type of organization is deductible only if it is to be used solely for public purposes.)"" https://www.irs.gov/publications/p526#en_US_2019_publink1000229641[/quote]
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