12 December 2018

Kushner paid little to no Federal Taxes for years on end

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The White House advisor's family real estate company Kushner Companies was fined over $200,000 by regulators in New York City earlier this year following an investigation into allegations that the firm falsified documents to get around local tenants' rights laws. informs citing Sputnik.

Jared Kushner paid little to no federal income tax between 2009 and 2016 by using a well-known tax-minimizing maneuver, the New York Times reports, citing the Trump son-in-law's tax bills.

According to the newspaper, Kushner's tax maneuver, which involved the use of depreciation, a tool often used by real estate moguls which allowed him to dramatically reduce his total taxable income, did not technically appear to break the law. It is a common strategy which is almost never audited, tax professionals speaking to the newspaper said.

The Times said it obtained over 40 pages of documents, including details on Kushner's earnings, business deals, expenses and borrowing between 2009 and 2016, as well as details on his personal federal tax filings.
Kushner has yet to comment on the report and whether it is accurate.

Kushner, who serves as President Trump's senior advisor on issues ranging from the Israel-Palestine conflict to deals with foreign countries to government IT contractors, veterans affairs and the drug problem, has an estimated net worth of nearly $324 million. Kushner Companies' total taxable sales reportedly amounted to about $2.3 billion between 2009 and 2016.

Kushner Companies, was founded in 1985 by Jared's father Charles Kushner. Jared resigned from his post as the CEO after joining the Trump administration in early 2017.

Earlier this month, the New York Times reported that President Trump and his father Fred Trump had used a variety of tax evasion schemes over the course of several decades, some of them constituting outright fraud. Trump dismissed the report as a "hit piece" and a revamp of an "old, boring" story.

2018.10.13 / 22:33
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