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Eric Trump’s Beloved Westchester “Compound” Turns Out to Just Be His Dad’s Tax Write-Off

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Donald Trump paid $750 in income taxes in both 2016 and 2017, the New York Times reported in an extensive investigation of the president’s finances that was published on Sunday. He reportedly paid no income taxes at all in 10 of the 15 years prior. According to the Times, Trump avoided taxes partly thanks to a broad definition of what constitutes business expenses: haircuts for The Apprentice, fuel to get him and his aircraft between his properties, and the property tax on a Westchester estate he would have the IRS believe is an investment property, even though Eric Trump would tell you otherwise.

As the paper noted, the main house at Seven Springs, in Mount Kisco, was built in 1919 by Eugene Meyer, who was a chairman of the Federal Reserve and purchased the Washington Post in 1933. It’s surrounded by over 200 acres of nature and, according to the Trump Organization website, is 50,000 square feet with carriage houses and three pools. The Times reported that Donald Trump agreed not to develop most of the estate—his previous plans for a golf course, clubhouse, and 15 private homes had already been stopped by local residents who objected to potential traffic and pollution—in a 2015 deal with a land conservancy that allowed him to claim a $21.1 million charitable tax deduction.

In his 2014 taxes Trump also reportedly said that Seven Springs is an investment property rather than a personal residence, and as a result he’s written off $2.2 million in property taxes as a business expense. That might come as terrible news to his son, who gave a gushing account of the place in a 2014 interview with Forbes.

The estate is “really our compound,” Eric Trump told the magazine then, recalling his summers and weekends there with Donald Trump Jr. when they rode ATVs and went fishing. “It was home base for us for a long, long time,” Eric said, “until I finally bought another house and moved out.”

Eric also said that he and Don Jr. did electrical work and mowed lawns around Seven Springs. Forbes estimated at the time of the interview that the property was worth around 10% of Trump’s $290 million valuation.

Alan Garten, a Trump Organization lawyer, didn’t respond to a question from the Times about the Seven Springs tax maneuver. The conservation-easement deduction that Trump claimed is one of two deductions that the New York attorney general is currently investigating, the Times noted.

“I’ve spent so much time learning the art of the deal here on this property,” Eric told Forbes.

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Radhika Apte reveals real reason why she got married

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Radhika Apte needs no introduction to Kollywood fans after her appearance as Superstar Rajinikanth’s wife in ‘Kabali’ directed by Pa Ranjith.  The intense actress impressed with her performance of a meek girl to a mother of a grown-up and especially her reunion scene with Rajini took the audience on an emotional ride.

Radhika is happily married to her British boyfriend Benedict Taylor who is a singer and she shuttles between Mumbai and London to balance her personal and professional life.

Radhika Apte in her most recent interaction with Vikranth Massey on social media from London has admitted that she does not believe in the institution of marriage.  When asked why she got married the talented performer replied that it is easier for married people to get a British visa and that’s why she and her man opted for it in 2012.

Radhika is currently chilling with Taylor in their London home during the lockdown and will soon start filming her next English film ‘Noor Inayat Khan’ in which she plays a spy based on a true story.

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Jacqueline Fernandez shares picture of her being in ‘happy place’

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Actor Jacqueline Fernandez is working on a secret project where she found herself in a ‘happy place’. Taking it to Instagram on Sunday, the 35-year-old actor shared a picture dressed up like a traffic police officer as she is seen laughing her heart out.

“How was everyone’s Sunday?? Fun project coming up soon! #myhappyplace,” wrote Fernandez along with a picture where she is also seen holding a coffee mug. The ‘Kick’ actor also shared a few Instagram stories of her getting ready for the upcoming project.

Recently, the actor extended gratitude to her fans after the number of Instagram followers hit the 46 million mark.

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Why an ‘active’ approach to risk modelling is key to navigating markets today

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Whether investors are aiming for a cautious approach or a riskier investment profile with the potential for higher returns, Architas’ Blended Fund range is designed to match a range of investor risk appetites. And like many asset managers, Architas predominantly uses two approaches to define asset allocation within the five risk bands used in the Blended Range – strategic and tactical.

Whilst risk model provider EValue’s quantitative approach to asset allocation takes into account the long-term performance of different asset classes and the likely future performance given current valuations, along with long-term measures of volatility and correlations with other asset classes. Yet as with most systems of its kinds, EValue focuses on the long term; it is unable to analyse short-term market movements and fluctuations. So whilst it would have seen that in Q1 2020 markets fell by a record percentage before rebounding, it will not be able to factor in the cost of the coronavirus and lockdown and its impact on markets. Similarly, it is not able to consider ongoing Brexit woes, geo-political trade wars or the outcome of the US election in 2020.

Click here for the full article and to access more about the flexibility of the Architas Blended Range by clicking on the box below.

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