You knew he’d do it, and we just learned how. The Russian backed conman, who got a YUUUGE tax break for the 1%, just weaseled in a YUUUUGE tax give away for him and his fellow real estate tycoon buddies, extending a tax dodge, with a max of $500,000, into an UNLIMITED scam to avoid all taxes. Custom made for the Trump and Kushner real estate empires.
eems to runs in the family: Jared Kushner has utilized tax depreciation, too.
Now here is what changed in the historic $2 trillion stimulus bill.
Previously, if a married couple had depreciation deductions that exceeded their real estate business income, the couple could claim that "loss" to write off taxes on a maximum of $500,000 in income from other sources, like wages from a day job.
Under the change, our rich taxpayer couple can now deduct an UNLIMITED amount of "excess losses" in real estate against income from other sources. So now real estate moguls with lucrative day jobs or bountiful capital gains from other investments can go back to living tax-free, the Kushner way, before limits were put in place as part of the 2017 tax reform bill.
It gets worse, if that's possible. The change applies to this year -- and retroactively to 2019 and 2018, SO rich real estate families can refile and retroactively get MILLLIONS of dollars in government checks.
Ya think Eric and Donnie Jr plan to do anything about it?
They’ll make daddy SO proud.....
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