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Posted On: 10/13/2022 8:40:34 PM
Post# of 127638
How Did Biden Hide $500k In UnPaid Taxes?
Ah, the benefits of being wealthy, elite, and politically favored. According to reporting from The Wall Street Journal, Biden and his wife Dr. Jill Biden routed a stunning $13 million dollars through multiple S Corporations and only claimed a bit less than $800k as taxable salary for Medicare Taxes, listing the rest as exempted from the 3.8 percent applicable rate.
It’s a nice trick if you can pull it off, and they would’ve too if it weren’t for that meddling GOP Congressman!
“Courts have agreed with the IRS that shareholder-employees are subject to employment taxes when shareholders take distributions, dividends, or other forms of compensation in lieu of reasonable compensation,” the report says without naming Biden specifically.
But according to Congressman Banks, the report demonstrates that the Bidens improperly used S Corporations to skimp out on paying Medicare taxes on their speaking fees and book sales from fiscal 17′ and 18′.
But notice how the media has absolutely buried this?
https://rightwingnewshour.com/report-joe-bide...n-taxes-2/
Ah, the benefits of being wealthy, elite, and politically favored. According to reporting from The Wall Street Journal, Biden and his wife Dr. Jill Biden routed a stunning $13 million dollars through multiple S Corporations and only claimed a bit less than $800k as taxable salary for Medicare Taxes, listing the rest as exempted from the 3.8 percent applicable rate.
It’s a nice trick if you can pull it off, and they would’ve too if it weren’t for that meddling GOP Congressman!
“Courts have agreed with the IRS that shareholder-employees are subject to employment taxes when shareholders take distributions, dividends, or other forms of compensation in lieu of reasonable compensation,” the report says without naming Biden specifically.
But according to Congressman Banks, the report demonstrates that the Bidens improperly used S Corporations to skimp out on paying Medicare taxes on their speaking fees and book sales from fiscal 17′ and 18′.
But notice how the media has absolutely buried this?
https://rightwingnewshour.com/report-joe-bide...n-taxes-2/
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