Jared Kushner Paid 'Little Or No' Income Tax For Years

Mark Wilson via Getty Images

Mark Wilson via Getty Images

White House senior advisers Ivanka Trump and Jared Kushner attend a meeting with U.S. President Donald Trump at the White House in Washington, U.S., October 11, 2018.

Mr Kushner sold his interests in the company to a family trust a year ago.

According to the newspaper The New York Times, which was confidential financial documents, the company Kushner Kushner Companies LLC has resorted to a common scheme to minimize tax payments.

The Times' deep dive into Kushner's legal maneuvering comes almost a year after the addition to the tax bill - shortly before its passage - of a provision allowing for multimillion-dollar perks for real estate investors like Trump and Kushner.

The Times found that Kushner and Kushner Companies used depreciation to their benefit in a series of strategic steps that several loopholes in the tax code allowed.

The Times includes a supplemental piece going through how Kushner avoided paying taxes that includes an image of one of the documents they obtained showing Kushner's net worth statement.

‘Spider-Man’ DLC arrives next Tuesday with new suits, more web slinging
One of the new suits has been dubbed the Resilient Suit, designed by Marvel illustrator and author Gabriele Dell'Otto. Spider-Man: The City That Never Sleeps will set you back $25, or you can buy each chapter individually for $10.

Thirteen tax accountants and lawyers, including J. Richard Harvey Jr., a tax official in the Reagan, George W. Bush and Obama administrations, reviewed the documents for The Times.

In 2015, Kushner made $1.7 million in salary and investment gains.

Kushner Cos, the family company for which Kushner previously served as chief executive, has been profitable in recent years, the Times said, citing the analysis.

The Kushner records reviewed by The New York Times did not expressly state how much Kushner paid in taxes, but included estimates for how much he owed called "income taxes payable" - and how much Kushner paid in expectation of forecasted taxes known as "prepaid taxes". More than a dozen tax attorneys and accountants who reviewed the documents at the request of the Times said the primary reason he paid little if any in federal taxes is depreciation. But as the Times pointed out, buildings actually tend to gain value, meaning that Kushner has been making significant profits by deducting nonexistent losses from his taxes. But his taxable income has been negligible, the documents show.

The Times noted that nothing in the documents indicate that Kushner or his company broke the law. For most of the years covered, both were listed as zero.

Latest News