Jared Kushner likely paid no taxes for years - despite making millions

Jared Kushner likely paid no taxes for years - despite making millions”

Thirteen tax accountants and lawyers reviewed Kushner's documents on behalf of the New York Times. Kushner, a senior White House adviser and President Trump's son-in-law, managed to avoid hefty tax bills thanks to millions of dollars in losses he recorded. But the losses were only on paper - Mr. Kushner and his company did not appear to actually lose any money. "However, always following the advice of numerous attorneys and accountants, Mr. Kushner properly filed and paid all taxes due under the law and regulations, '" the Times reported. In the eyes of the IRS, real estate depreciates over time, so there is a provision that allows property owners to deduct a part of the cost related to their assets each year. The law assumes that buildings' values decline every year when, in reality, they often gain value.

Kushner made $1.7 million in salary and investment gains in 2015, though those earnings were followed by $8.3 million of losses "significant depreciation" of their real estate, according to the documents.

Kushner registered an estimated net worth of almost $324 million, bringing home millions in salary and gains from his various investments.

"The New York Times' allegations of fraud and tax evasion are 100 percent false, and highly defamatory", Harder said, according to the paper. The documents, mostly created past year, were shared with the New York Times by a person who has had financial dealings with Mr. Kushner and his family.

Real-estate tax codes allow for companies to report profit losses that cut down on taxes and can even trigger refunds.

How Jared Kushner likely avoided paying taxes on his income for about seven years is a lesson in the business of real estate.

Peter Mirijanian, a spokesman for Kushner's lawyer Abbe Lowell, told Reuters on Saturday that he would not respond to the newspaper's assumptions, which he said were "taken from incomplete documents obtained in violation of the law and standard business confidentiality agreements". Over the period covered by the documents reviewed by the newspaper, Kushner's credit lines from banks rose to $46 million in 2016 from $0 in 2009.

The Times' findings on what it described as Kushner's "tax-minimizing maneuver" contrast with its extensive investigation into Trump's family's wealth.

Like this



17 October 2018
49ers apologize for leaving Colin Kaepernick out of photo gallery
The play set Aaron Rodgers and the Packers' offense up for what would end up being the game winning drive. The culprit, like last week, was a coverage bust that came as a result of a post-huddle miscommunication.

17 October 2018
Marc Leishman wins CIMB Classic in Malaysia by five shots
Australian golfer Marc Leishman has stormed to an imperious five-shot victory in the US PGA Tour's CIMB Classic in Kuala Lumpur. Leishman becomes the first non-American to win the tournament since its inception in 2010 and earns him a $1 260 000 paycheque.

17 October 2018
Injured Bosa leaves Ohio State to prep for pro career
Oh, and quarterback Dwayne Haskins is on pace to break virtually every single-season passing record in the Ohio State record book. He is expected to be a first-round draft pick. "He is a first-class young man who we have been honored to coach".

17 October 2018
Case Of Polio-Like Illness Acute Flaccid Myelitis Confirmed In Mass.
CNN has reported that this year, more than half of all US states have had confirmed or possible cases, including North and SC . Health experts say the disease can lead to paralysis and even death, but no deaths have been reported so far this year.

17 October 2018
Sherlock Team To Create Dracula Miniseries For Netflix And BBC
Here's the synopsis: In Transylvania in 1897, the blood drinking Count is drawing his plans against Victorian London. The closest attempt was NBC's Dracula series, starring Jonathan Rhys Meyers, but it only lasted a single season.

16 October 2018
"Bring your rage": Witches plan to hex Brett Kavanaugh in public ritual
When Stahl pressed him again he answered, "You know what?" Trump confessed, "Had we not made that speech we would not have won". Trump told 60 Minutes Kavanaugh wouldn't have been confirmed otherwise. "I didn't really make fun of her", Trump said.

16 October 2018
Palm Phone hands-on: an Android phone for your phone
The Palm is a attractive little thing, crafted from aluminum and Gorilla Glass 3, but I couldn't imagine using this thing all day. He said that it differed from other "second" phones because it was not reliant on Bluetooth to connect it to the parent device.

16 October 2018
Adobe sees 20 percent ahead for fiscal 2019
Called Premiere Rush CC , the app is available now on iOS and desktop with an Android release in the cards for sometime in 2019. Moving on to Adobe Premiere Rush CC, it's Adobe's vision of a mobile-friendly, content-creator focused video editing software.

11 May 2018
All You Should to Know about Cisco CCNP Certification
Cisco provides the seekers with a wide range of courses depending on different areas included in the field of IT. The certificate holder gets a good position in the field of IT, and is capable to add new apps and networks.

10 May 2018
How to choose an app development company: here's what you need to know
Before starting to work with a company, clearly define your requirements and expectations, set appropriate deadlines and budget. Believe me, you don’t want to spend hours fixing the bugs and replying to negative comments on Play Market.