Monday, December 5, 2016

The president-elect would have to navigate a staggering tax bill if he eased out of his business empire.

President-elect Donald Trump’s unwillingness to give up his far-flung real estate empire by selling it off or giving it outright to his children may be driven by a factor he has yet to mention publicly: a potentially staggering tax bill triggered by such a transaction.

“It could be billions,” said David Herzig, a tax law professor at Valparaiso University. “People are saying, ‘Oh well, don’t worry,’ but you could be looking at the potential of billions of dollars in tax liability.” Read full story here 

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