零納稅的高槓桿投資
Last week, The New York Times published a detailed report about US President Donald Trump’s tax returns.
上週，《紐約時報》發布關於美國總統川普的納稅申報表的詳細報導。
tax return納稅申報單
The president’s tax returns expose that many essential workers in America likely pay more tax than the president.
川普的納稅紀錄透露，美國許多基層勞工繳的稅可能都比總統來得多。
essential workers 基層員工
What’s more surprising about the returns is that they could be entirely legal, illustrating how the US tax system is built in such a way that allows the richest 0.1% to dodge tax easily.
更令人訝異的是，川普的納稅申報可能完全是合法的，顯示美國稅制刻意被設計成讓前0.1％的首富可以輕鬆避稅。
illustrating=which illustrates…illustrate(v.)給(書籍、雜誌等)畫插圖、(尤指用例子)說明;闡明=exemplify=demonstratein such a way that…達到某種程度而產生…的結果dodge(v.)閃躲、避開、躲避、逃避=evade
In an exclusive report released on September 27, The Times provided a long list of details about the president’s finances, disclosing that his business empire has claimed hundreds of millions of dollars in losses year after year.
紐時在9月27日刊登獨家報導，詳列川普的財務狀況，披露他的商業帝國連年上報數億美元的虧損，
exclusive(adj.)專用的;獨有的;獨佔的an exclusive interview獨家採訪finances(n.)(個人或公司的)財源、財力、財務狀況disclose(v.)公開、公布、透露、揭露claim(v.)聲稱;宣稱;主張
That enabled him to reduce his income tax liability to zero in 10 of the previous 15 years, and to a mere $750 in 2016, the year when he was elected, and 2017, the first year of his presidency.
使他得以在過去15年中有10年將所得稅應納稅額降到零，在川普當選的2016年以及2017年（總統任期的第一年），他只繳了750美元的所得稅。
enable sb. to RV使某人能夠、得以…=allow sb. to RV=make it possible for sb. to RVliability (n.)(法律)責任、義務presidency(n.)總統的任期(或職務)
The report also laid bare Trump’s other questionable practices.
報導還披露川普其他可疑的做法，
questionable(adj.)可疑的;令人懷疑的=suspicious
For example, he wrote off his 200-acre family estate in Bedford, New York, as an investment property, even though it serves as a family home.
例如，他將位於紐約州貝德福德佔地200多英畝的莊園當作投資性房產來抵稅，儘管這座莊園實際上是他家的私人住宅。
write off 勾銷(債務)、抵稅investment property投資性房產even though(conj.)雖然;僅管
The president even paid his daughter Ivanka, an employee of his company, as an outside consultant, and then deducted the expenses as a cost of doing business.
川普甚至把在川普集團任職的女兒伊凡卡當作外部顧問，然後把付給她的錢列為「營業費用」以降低應稅收入。
as(prep.)以…的身份consultant(n.)顧問;諮詢師deduct(v.)減去、扣除=subtract=take away=take from
While Trump was apparently exploiting tax loopholes, experts say it isn’t illegal, unless the filer or his legal representative breaks the rules.
儘管川普明顯是在鑽稅法漏洞，不過專家們說川普的行為並沒有違法，除非申報人或其法定代理人有違反規定。
exploit(v.)(出於私利)利用;剝削exploit migrant workers剝削移工loophole (n.)(法律)漏洞filer(n.)申報人legal representative法定代理人
“It’s not uncommon for real estate professionals to pay zero tax if they have highly leveraged investments,” E. Martin Davidoff, a CPA who helps wealthy clients with tax strategies and disputes, told Yahoo Finance.
專門幫有錢人客戶規劃稅務及處理稅務爭議的會計師大衛·杜夫告訴雅虎財經：「對於房地產專業人士來說，如果他們有高槓桿投資，零納稅的情況很常見。」
leverage(n.)槓桿作用、槓桿(v.)起槓桿作用highly leveraged investments高槓桿投資
Davidoff said that zero tax has been especially easy to achieve under the laws that existed for real estate professionals before 1986 and after 1993, and for highly leveraged investors.
杜夫說，1986年前和1993年後的稅制，特別有利於房地產專業人士及高槓桿投資者實現零納稅。