Prof. Andrew Schmidt Cited by MarketWatch

Andrew Schmidt, associate professor of accounting at NC State Poole College of Management, lent his expertise to MarketWatch regarding President Trump’s insistence that the over $1 billion in losses he reported in taxes weren’t necessarily financial.

Schmidt told MarketWatch, “Depreciation is going to significantly lower Trump’s tax liability because he is in the real estate business. But he is also notorious for carrying high debt loads, which generate high interest expense. Interest expense would also add to tax losses since it is a deductible expense, but unlike depreciation it’s a cash, out-of-pocket expense.”

Read the full article on MarketWatch.com.