January 18, 2021

Trump's son-in-law and his company have been able to avoid paying taxes, says the NYT

Trump's son-in-law and his company have been able to avoid paying taxes, says the NYT



Jared Kushner, son-in-law of US President Donald Trump, and his real estate company have avoided paying or have paid few federal taxes, after claiming losses in the business even if they did not have them, the New York Times says today. .

The newspaper obtained 40 pages of financial documents from Kushner, which describe its business, expenses, profits, loans, which it submitted to the evaluation of several experts who have agreed that Trump's adviser and his real estate business have been able to legally evade the payment. of taxes.

He points out that during the past decade the Kushner family has invested millions of dollars in the real estate business. Its investment in shares has risen and its net worth is at least 342 million dollars.

According to the analysis of the documents, between 2006 and 2009 Kushner paid little or no tax.

That happened as a result of a maneuver to reduce the payment of taxes, which year after year has allowed him to claim millions of dollars in losses, which also exists in other industries.

But, that loss of money has only been in papers because, according to the analysis, Kushner and his real estate company are not losing money.

Kushner and the company resorted to claiming devaluation, a tax benefit that allows real estate investors to deduct a portion of the cost of buildings from their taxable profits.

Nothing in the documents suggests that Kushner and his company have violated the law, the Times notes, adding that a spokesman for the businessman's attorney said Trump's son-in-law "paid all the taxes he owed."

In practice, however, this grant often represents a lucrative gift for developers like Kushner and Trump, warns the Times.

It also highlights that the enormous flexibility allows real estate investors to determine what they will pay taxes.

The newspaper also highlights that the Kusher Company, of which it is the owner and executive director, has been a profitable company that has produced millions of dollars in cash annually to Jared and his father Charles, according to an analysis of the company itself. in the documents reviewed by the Times.

His father Charles has also benefited from the same tax resource.

But as far as the Internal Revenue Service is concerned, the Kushner Company has been losing for years, he says.

The Times recently published the results of another investigation that attributes a significant portion of President Trump's fortune to dubious and, in some cases, clearly fraudulent tax practices.

The newspaper, which analyzed a large file of tax returns and other documents, also noted that over the years Trump received from his father the equivalent of more than 413 million dollars, which contradicts his repeated statements in which he assures be a self-made billionaire.

According to the Times, much of that money came to the president because he helped his parents avoid taxes.

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