Here are some takeaways from our reporting on President Trump’s tax records, which show how he managed to avoid federal income taxes for much of the last two decades. https://nyti.ms/36gD5KK 

A large tax refund — paid with interest — has been crucial to Trump’s success in avoiding taxes, reducing his total federal income tax bill from 2000 to 2017 to an annual average far below what most other affluent Americans paid. https://nyti.ms/36gD5KK 

Trump’s unprofitable companies serve a financial purpose: reducing his tax bill. https://nyti.ms/36gD5KK 

Trump classifies much of the spending on his personal lifestyle as the cost of business. https://nyti.ms/36gD5KK 

The presidency has helped Trump’s business, but it has not resolved his core financial problem: Many of his businesses continue to lose money. https://nyti.ms/36gD5KK 

Since he became a leading presidential candidate, Trump has received large amounts of money from lobbyists, politicians and foreign officials who pay to stay at his properties or join his clubs. https://nyti.ms/36gD5KK 

Presidents since the mid-1970s have made their taxes public. The New York Times is publishing its findings “because we believe citizens should understand as much as possible about their leaders and representatives,” said Dean Baquet, the executive editor. https://nyti.ms/2G77DUt 

Read more from the investigation here: https://nyti.ms/3mYUCNo