Real estate tax law in the United States allows investors to claim a loss on the decline in value of any holdings. This depreciation reduces…
Real estate tax law in the United States allows investors to claim a loss on the decline in value of any holdings. This depreciation reduces the amount of money owed on taxes. The current tax code gives investors a great deal of flexibility when calculating depreciation. Unlike wage earners, investors can use tax obligations from their business to reduce what they owe on their personal taxes.
Kushner used this strategy to reduce the amount of taxes he owed to almost nothing. This despite the fact that his personal net worth has quintupled to over $323 million over the last 10 years.
Last year, the White House advocated for a massive tax overhaul that would eliminate many of the loopholes that allow people to inflate their deductions. The only industry that wasn’t touched by this overhaul was the real estate industry.
The White House last year championed a sweeping revision of the nation’s tax laws that expanded many of the benefits enjoyed by real estate investors, allowing them to reap even larger deductions. https://t.co/vkOssRGwPc
— Jesse Drucker (@JesseDrucker) October 13,2018
