Jared Kushner paid no federal income tax for years

[Demovictory9]

https://m.huffpost.com/us/entry/us_5bc2006ee4b01a01d68b1ffe

Jared Kushner Paid Little To No Federal Income Tax For Years, New York Times Reports

Being in real estate is “fantastic,” a lawyer who reviewed the documents said. “You get tax deductions for things you don’t pay for.”



Jared Kushner, the son-in-law of President Donald Trump and a senior White House adviser, paid little to no federal income tax from 2009 to 2016, The New York Times reports.

Tax bills reviewed by the publication reveal what the Times calls a “common tax-minimizing maneuver” that allowed Kushner and his real estate firm, Kushner Companies, to mark losses on paper without actually losing any money. Kushner did not break the law, however, when he marked his losses through depreciation, a tax benefit that allowed his company to deduct a portion of the cost of its buildings from its taxable income each year.

[TEB]

1. Grifter like his father in law

[BannonsLiver]

4. Kushner's own father is an actual ex con who was incarcerated

[GoCubsGo]

5. Grifter, like his father, as well.

His old man served time in a federal prison for tax evasion, illegal campaign contributions, and witness tampering. The apple doesn't fall far from the tree.

[Blue_true]

2. What he did is legal.

If the value of a property drops, that change can be taken as a loss. Common practice among REITs and it sucks to high heaven.

The properties should be listed on the Balance Sheet for the purposes of valuing the properties for real estate tax purposes, but not on income taxes, outside of actual expenditures that change their value if fix a problem (like adding flood abatement, adding rapid heat water heaters for apartments and/or offices.

[Demovictory9]

11. legal,yes. shows the how the rich get richer. Wager earners taxes get deducted

before they even see them.

[Blue_true]

13. Yep. nt

[procon]

3. Would it be correct to assume that these generous benefits for the

very wealthy do not apply to the average homeowner?

[Demovictory9]

10. right. homeowners do not get to deduct the declining value of house

[SWBTATTReg]

6. Yes, this is legal but my point made in another OP dealing w/ JK's tax ...

avoidance manipulations is that the tax benefits awarded for such activities is grossed over awarded vs. other economic doings. So by simply buying apartment buildings by the thousands, doing nothing, these folks are pretty well reaping outsized tax benefits whereas a factory owner has to do a heck of lot more to generate even near the amount of tax write offs. No wonder these people are all owners of apartments, buildings, etc.

You'll find most people that pay little or no tax will have substantial amount of properties, apartments, etc., all which are appreciating in value usually (the real estate boom since 2008) and then when they sell, they pay at the long term capital gains tax of 15%. Plus during the duration of ownership, writing off big amounts of depreciation (which should be recaptured if they make a huge profit when they sell the buildings/apartment buildings etc.).

rump's buddy Hannity is in this group of tax payers too. He makes tons of money, but probably pays little to no tax. What a hypocrite. He doesn't have the right to criticize anyone working for a living (like his fellow Americans, who are democrats) and who pays taxes out the blank. And, my opinion only, none of these people should be allowed a voice in how to pay for government services, since they don't pay any tax anyways. Hypocrites, all of them. Including the Koch brothers, whom most of their so called wealth is simply stock which they'll sell but probably put into a generational trust fund(s) of some kind, and never, ever, pay a dime in tax. Never! This is grossly unfair.

[Demovictory9]

12. agreed. They aren't paying towards the military but behave as if they are the biggest

patriots ever to walk the earth.

[fescuerescue]

7. Hopefully the IRS gets wind of this

And comes down hard on him.

[rtracey]

8. hmmmm time to scream....

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[treestar]

9. I wonder when were laws allowing this passed

and what was the reasoning behind them? It is hard to imagine someone who lives as well as Jared not really making any money.

[Shanti Mama]

14. To me, this just obscures more important things

As the Times writes, it a "common tax-minimizing maneuver." We may not like the tax code, but it's commonly used. Those of us who have rental properties might very well do the same thing.

When you legally depreciate a business property it comes back to bite you on the sale of the property. He is following the letter of the law. Why focus on this? Is the law used in unintended, unproductive, unfair ways? Do virtually all developers do what Kushner has done? Yes.

Let's move on to important stuff.