Tag: Stuart Zimmerman



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Stuart Zimmerman

Marketplace recently tapped Olin Executive in Residence Stuart Zimmerman to discuss Donald Trump’s tax returns and “the sticky situation on income tax for real estate developers.”

Zimmerman, who has more than 40 years of wealth management experience, is the retired co-founder of the Buckingham Family of Financial Services, and current Chairman and CEO of Audubon Associates LLC.

When asked about Trump’s returns, Zimmerman told Marketplace reporter Adam Allington, “I would expect that his taxable income is zero.”

Allington continues:

Because of the way the tax code is written, developers are allowed to deduct millions of dollars for depreciation, even if their property is appreciating in value.

“And if it ever gets to the point where it looks like there is going to be some taxable income and they’re going to have to pay some tax because they’re running out of depreciation, just start another project,” Zimmerman said. “It’ll show losses in those first years.”