This is factually incorrect enough on how depreciation works as to be malicious. Thread I guess. 1/https://www.nytimes.com/2018/10/13/business/jared-kushner-taxes.html …
-
Show this thread
-
"Its enormous flexibility allows real estate investors to determine their own tax bills." This is just wrong. Depreciation follows a fixed schedule determined by the IRS, based on the type of property. 2/
1 reply 0 retweets 2 likesShow this thread -
They're implying depreciation is just "free money" when in fact every dollar of depreciation corresponds to a dollar of profit on sale of the property (unless those proceeds are rolled into other similar properties). It's deferred, not avoided. 3/
1 reply 0 retweets 0 likesShow this thread -
"He is reporting the losses even though he bought his properties with borrowed funds." These morons. Debt versus equity, how does it work? They supposedly ran this by people who know better, so this is just straight malicious innuendo. 4/
1 reply 1 retweet 1 likeShow this thread -
"Depreciation deductions are available in other industries, but they generally don’t get to take losses related to spending with borrowed money" What the fuck are they talking about? This as written is completely wrong. All owned capital assets are generally depreciable. 5/
1 reply 0 retweets 0 likesShow this thread -
Seriously read the IRS pub on depreciation, as far as I can tell there is no limitation on depreciating mortgaged capital goods. NYT appears to be incompetently lying here. https://www.irs.gov/publications/p946#en_US_2017_publink1000107322 … 6/6
1 reply 0 retweets 0 likesShow this thread
If there were only some knowledgeable ppl in NY they could run this past before printing..
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.