Jared Kushner may have dodged paying federal taxes for years

Jared Kushner and Treasury Secretary Steven Mnuchin at the White House in Washington

Jared Kushner and Treasury Secretary Steven Mnuchin at the White House in Washington

The report was based on more than 40 pages of documents that The Times reviewed, which were created with Kushner's cooperation as party of a review of his finances when applying for a loan.

White House adviser Jared Kushner "appears" to have paid no federal income taxes in several recent years, The New York Times reported Saturday based on "confidential financial documents" it had reviewed - despite Kushner Companies itself being profitable for Kushner and his father, and Kushner's net worth having "quintupled to nearly $324 million".

Citing "confidential financial records" it obtained, the Times reported that Kushner, 37, a senior White House adviser, for years minimized his tax bills by booking heavy losses on reported depreciation of his real estate holdings that overwhelmed his reported income. The provision is meant to shield real estate developers from having their investment value decrease from wear and tear on their buildings, but in practice it results in lucrative giveaways to developers.

The law regarding depreciation assumes that real estate values decline annually, although often property values actually increase.

Is No Credit Better Than Having Bad Credit?
In fact, that’s the best possible use of credit — engaging it to do something that can help you make money. No Credit The good news about having no credit history is there’s nothing negative about you out there.

Kushner Cos, the family company for which Mr Kushner previously served as chief executive, has been profitable in recent years, the Times said, citing the analysis. Other experts interviewed by the Times say it's likely he didn't pay much ― or any ― in three other years.

Peter Mirijanian, a spokesman for Kushner's lawyer Abbe Lowell, told Reuters on Saturday that he would not respond to the newspaper's assumptions, which he said were "taken from incomplete documents obtained in violation of the law and standard business confidentiality agreements". The Times wrote that "nothing in the documents suggests Mr. Kushner or his company broke the law".

A spokesman for Kushner's lawyer told The Times that Kushner followed the advice of lawyers and accountants, and filed and paid all taxes required by law. Instead, the documents include disclosures by his accountants that estimate how much tax he owed for the year just ended - called "income taxes payable" - and how much he paid during the year in anticipation of taxes he would owe, called "prepaid taxes".

The summaries of Kushner's tax returns reviewed by The Times don't explicitly state how much he paid.

Recommended News

  • Djokovic cruises past Coric to win 4th Shanghai title

    Djokovic cruises past Coric to win 4th Shanghai title

    If Coric wins Sunday's showdown, he will have beaten all of the "Big Four": Djokovic , Federer, Rafael Nadal and Andy Murray . Djokovic and Zverev met on clay in the final of the Rome Masters in May last year, the 21-year-old German winning 6-4, 6-3.
    British royal newlyweds release official wedding photos

    British royal newlyweds release official wedding photos

    Eugenie started her education at Winkfield Montessori before heading to Upton House School and Coworth Park School. In 2013, Eugenie moved to New York City to work for online auction firm Paddle8 as a benefit auctions manager.
    Australian woman taken by 'problem crocodile' in Northern Territory

    Australian woman taken by 'problem crocodile' in Northern Territory

    The incident occurred on the Gan Gan outstation where Yirralka Rangers work in the Laynhapuy Indigenous Protected Area. Police said it was not yet clear what type of crocodile had taken the woman.
  • India 308-4 at stumps in 2nd West Indies Test

    India 308-4 at stumps in 2nd West Indies Test

    However, the right-left batting combination of Rahane and Pant ensured a wicketless final session with their contrasting batting. At stumps, India was looking strong at 308 for 4 in return to West Indies' 311.
    Fighting Poverty will Check Illegal Wildlife Trade - Museveni

    Fighting Poverty will Check Illegal Wildlife Trade - Museveni

    The global security community must realise that "wildlife is the most visible data point. that could lead us to other threats topping the priority list", she said.
    Nurses Can Empower African-American Women in the Fight Against Breast Cancer

    Nurses Can Empower African-American Women in the Fight Against Breast Cancer

    If you notice any bumps or lumps, do not panic, most of the lumps or tumors are usually benign but you should take precautions. In the meantime, she recommends that women who can afford it ask for 3-D imaging when its time for their annual mammogram.
  • Samsung mobile boss confirms new details for the long-awaited folding Galaxy F

    Samsung mobile boss confirms new details for the long-awaited folding Galaxy F

    The South Korean Corporation like Samsung to produce smartphones top level because they began the story of its mobile division. The starting price of the Samsung Galaxy A9 (2018 ) is Euro 599 (about 251,000 Naira) and GBP 549 (about 263,000 Naira).

    President Trump says he is unsure if Defense Secretary Mattis will depart

    An excerpt of the interview was released Sunday morning. "And I have other people that I'm beyond thrilled with". Bloomberg: " Trump Hints Pentagon Chief Mattis May Be Planning to Quit ".
    Pressure mounts on Theresa May as Brexit summit looms

    Pressure mounts on Theresa May as Brexit summit looms

    Brexiteers suspect this could turn into a permanent situation, restricting the freedom to strike trade deals. In another blow for Mrs May, some Tory MPs who voted Remain now plan to vote against her deal.
  • Fracking to begin in Britain after court ruling

    Fracking to begin in Britain after court ruling

    Mr Justice Supperstone is expected to give his judgment at noon on an application brought by environmental campaigner Bob Dennett. The firm will initially test gas to see whether it is viable, but if the operation is a success up to 20 wells could be built.

    Marvel's Iron Fist Canceled at Netflix After Two Seasons

    Iron Fist was among the four initial series that Marvel sold to Netflix back in 2013, and it was also one of the most divisive. Defending the greatest city in the world among the most talented and the warmest people has truly been a privilege and joy.
    Bipartisan Senate Group Forces U.S. Probe of Saudi Journalist's Disappearance

    Bipartisan Senate Group Forces U.S. Probe of Saudi Journalist's Disappearance

    Security camera footage released on Wednesday by Turkish television showed a man believed to be Khashoggi enter the consulate. In a shocking report Saturday, Reuters cited unnamed Turkish officials as saying Khashoggi had been murdered inside.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.