Senior White House advisor and Donald Trump’s son-in-law Jared Kushner likely paid little to no income tax between 2009 and 2016, The New York Times reported Saturday.
Kushner, whose net worth has soared to almost $324 million during the last decade, “appears to have paid almost no federal income taxes,” according to confidential financial documents reviewed by The Times.
The federal tax law on depreciation, “often represents a lucrative giveaway to developers like Mr. Trump and Mr. Kushner.”
“The White House last year championed a sweeping revision of the nation’s tax laws that expanded many of the benefits enjoyed by real estate investors, allowing them to reap even larger deductions,” The Times noted.
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.
Thirteen tax accountants and lawyers analyzed the documents for the report.
The spokesman for Kushner’s attorney complained that the documents were “obtained in violation of the law and standard business confidentiality agreements.”
The White House refused comment for the story.