The New York Times tells us that Jared Kushner paid "Little to no" income tax from 2009 to 2016.
Not paying income tax is actually pretty reasonable given that on the numbers presented, Kushner has been making a loss.
I'll explain what they don't: On the numbers presented it's quite right, at least in the economic sense, that Kushner isn't paying income tax since he's making that loss.
The tax allowance is higher than any tax owed - zero income tax bill.
From the New York Times: "The losses were driven by depreciation, a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year." Yes, quite so, but note the detail they give on another page: "Under the federal tax code, real estate investors can write off the purchase price of the building - excluding the cost of the land - over a period of decades."
Why did Kushner pay no tax? As the example given to us says, he got $1.7 million in direct income and at the same time lost $8.3 million as the buildings fell in value.
Given that Kushner was making an economic loss, why should he be paying income tax?
https://www.washingtonexaminer.com/opinion/of-course-jared-kushner-isnt-paying-taxes-hes-making-a-loss
Not paying income tax is actually pretty reasonable given that on the numbers presented, Kushner has been making a loss.
I'll explain what they don't: On the numbers presented it's quite right, at least in the economic sense, that Kushner isn't paying income tax since he's making that loss.
The tax allowance is higher than any tax owed - zero income tax bill.
From the New York Times: "The losses were driven by depreciation, a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year." Yes, quite so, but note the detail they give on another page: "Under the federal tax code, real estate investors can write off the purchase price of the building - excluding the cost of the land - over a period of decades."
Why did Kushner pay no tax? As the example given to us says, he got $1.7 million in direct income and at the same time lost $8.3 million as the buildings fell in value.
Given that Kushner was making an economic loss, why should he be paying income tax?
https://www.washingtonexaminer.com/opinion/of-course-jared-kushner-isnt-paying-taxes-hes-making-a-loss
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