Looks like tragic and dodgy family practices don’t fall far from the tree. In a second bombshell report from the New York Times, the paper managed to uncover equally shady tax-avoidance practices by none other than Jared Kushner. While his own net-worth soared, he, managed to avoid paying taxes of any kind for the last five years per recorded returns.
The Times uncovered that from 2006 to 2018 Kushner paid taxes all of a single time. That time, uh, being in 2013 when he paid a reported $1.1M in taxes. Kushner’s lawyer denied any wrong doing when contacted by The New York Times, although, many are already crying afoul.
For example, in 2015 he earned $1.7m in income, but reported more than $8.7m in losses. This is all too common among real-estate developers, who, actually use a loophole in tax laws to avoid paying taxes on properties that actually decline over the years. Yes, you read that right, as properties decline and often go un-renovated people are paying zero taxes on them.
Bloomberg has much more on the story, and, how the GOP ‘s previous tax overhaul has largely been seen as a boon to real-estate developers like Kushner.