Tax bills investigated by the publication reveal what the Times calls a “common tax-minimizing maneuver” that permitted Jared Kushner and his real estate firm, Jared Kushner Companies, to mark losses on paper without actually losing any money. Kushner did no violate 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.
The Times addressed 13 assess bookkeepers and legal counselors. Richard Harvey Jr., an assessment official that worked in various White House organizations, checked on the duty archives also. Harvey said Jared Kushner seems to have paid almost no government wage charges for something like five years. Different specialists met by the Times say it’s possible he didn’t pay much ― or any ― in three different years.
The report follows a massive report from the Times earlier this month that accused Trump of “outright fraud” in his own series of tax schemes.
James Gazzale, a representative for the New York State Department of Taxation and Finance, said the division is currently “looking into the charges in the New York Times article and is vivaciously seeking after every suitable road of examination” in connection to the president.
“If I had to live my life over again, I would have been in the real estate business,” Jonathan Blattmachr, a trusts and estates lawyer who reviewed the Jared Kushner documents for the Times, told the paper. “It’s fantastic. You get tax deductions for things you don’t pay for.”
In August, Jared Kushner Companies was fined $210,000 for lying about rent-protected tenants. And even though Jared Kushner and wife Ivanka Trump worked in the White House last year, they made a combined $82 million from their businesses and investments.