February 1, 2019

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.

The New York Times

By Paul Sullivan

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

Related Services Tax & Business, Family Wealth Services, Cost Recovery & Accounting Methods, Personal Financial Management, Tax Return Compliance

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. Tax & Business

Excerpt:

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.

Click here to read a PDF version of the article >>

Featured

Maury  Cartine

Maury Cartine

Co‑Partner‑in‑Charge, Alternative Investments

  • Tax & Business
  • New York, NY