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October 5, 2018

Many big developers get big tax breaks

By MARCY GORDON and SARAH SKIDMORE SELL
AP Business Writers

WASHINGTON — Big real estate developers like Donald Trump have long benefited from a myriad of legal loopholes and breaks that can shrink their tax bills. Their advantages expanded further with the federal tax overhaul that took effect this year.

Even before the new tax law, the U.S. tax code provided loopholes and special breaks that favor wealthy real estate investors. Tax experts say they're often able to claim losses more quickly and easily than other taxpayers. They are also afforded several ways of delaying or avoiding reporting profits to the Internal Revenue Service.


 
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