That’s important because operating income, not taxable income, is a key factor in determining the value of a real estate asset. Determining Donald Trump’s net worth is just one big math equation: add up the value of the assets, subtract the value of the liabilities. For a commercial real estate building, it requires examining the location, the square footage, the valuation multiples and the income—the net operating income, that is. Donald Trump has long prided himself on gaming the tax system. The Trump Corp., a business 100% owned by Donald Trump, wrote off the fees paid to Alan Futerfas, an attorney that represented Donald Trump Jr. in the Russia probe, according to the newspaper.

Source: Forbes September 28, 2020 14:12 UTC