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The New York Times

The New York Times quoted Maury Cartine, partner-in-charge of New York City Tax & Business Services, in an article about the complexities of taxing the wealthiest Americans.

Featured: Maury Cartine, Partner-in-Charge, Tax Services - New York

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Maury Cartine, a partner at the accounting firm Marcum and a certified public accountant for 50 years, said that when the highest tax bracket was 70 percent in the 1970s, the tax on earned income — as opposed to investment income - was limited to 50 percent. At that time, an individual taxpayer could also deduct interest on any type of loan - car, educational, credit card - and not just on a home. “A taxpayer could refinance appreciated rental property, take the proceeds to buy a yacht or some very nice jewelry and still deduct the interest,” Mr. Cartine said.

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Featured
Maury Cartine, Partner-in-Charge, Tax & Business

Partner-in-Charge
Tax Services - New York
Tax & Business
New York, NY
 
 
 
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