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10/13, 7:42 PM (Source: TeleTrader.com)
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Kushner paid almost no federal taxes for past 5 to 8 years - report

The son-in-law of the United States President Donald Trump and a senior White House advisor, Jared Kushner paid little or no federal taxes for the past five to eight years, according to confidential financial documents reviewed by The New York Times on Saturday.

The report shows that Kushner was able to pay no taxes due to a common tax-minimizing maneuver that appeared to have generated millions of dollars in losses over the year. However, Kushner and his family actually didn't lose any money since losses were driven by depreciation, "a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year."

However, the documents fail to prove that Kushner broke any law during the process. A spokesman for Kushner’s lawyer said that the WH advisor “paid all taxes due.”

Breaking the News / FH