Crain's New York Business spoke with National Tax Leader Joe Perry about how Donald Trump qualified for a tax break intended for low- and middle-income New Yorkers.
Crain's New York Business
By Aaron Elstein
Joe Perry, partner-in-charge of tax services at the accounting firm Marcum, said there are many legitimate ways a real estate executive like Trump could lower his income. He noted that Trump could generate losses by accelerating the depreciation rates on properties and using those losses to offset income, including income that isn’t generated from real estate activities.