November 16, 2017
NBC News asked Marcum to analyze the impact of the House Tax Cuts & Jobs Act on the 2005 federal tax return of Donald Trump, and reported the Firm's findings.
By Mark Murray
Featured: Maury Cartine, Partner-in-Charge, Tax Services, New York
Excerpt:
But based on a known 2005 return of Trump's taxes, Maury Cartine, a tax expert at Marcum LLP, says the House legislation would have saved the president more than $31 million in the Alternative Minimum Tax he paid that year " because the bill repeals that tax.
"The repeal of the Alternative Minimum Tax would result in an initial federal income tax savings of $31,261,179," Cartine said in analyzing the House bill based upon Trump's 2005 tax return.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.
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