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Posted On: 05/08/2024 7:43:42 AM
Post# of 124235
Hunter Biden asks Los Angeles judge to toss out $1.4m tax evasion case
Hunter has pleaded not guilty to failing to pay $1.4m in taxes between 2016 and 2019, while spending millions of dollars on drugs, escorts, exotic cars and other big-ticket items. His lawyer has said he paid back the money in full.
US district judge Mark Scarsi appeared to give a skeptical reception to dismissal request. At the hearing, Scarsi asked whether Hunter’s lawyers had any evidence that prosecutors had caved to pressure from Republicans, other than the fact that they filed charges after months of accusations by Republicans in Congress and Donald Trump that he had been treated leniently.
https://www.theguardian.com/us-news/2024/mar/...asion-case
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Biden's tax returns show he took advantage of a loophole Obama sought to eliminate
Former Vice President Joe Biden used a major tax loophole to dramatically reduce his overall tax burden shortly after leaving the White House in 2016. He used the loophole months after former President Barack Obama tried to eliminate the exotic tax structure during his final year in office.
Biden directed money he made from books and speeches through an S-corporation, allowing him to reduce his taxable income, tax returns he filed in 2019 show. People who own S-corporations can legally avoid paying a roughly 3.8% tax on revenue provided they pay themselves reasonable compensation.
The tax strategy allowed Biden and his wife, Jill Biden, to accrue $500,000 in tax savings, compared to what he would have paid had Obama’s plan to eliminate the loophole come to fruition, The Wall Street Journal reported in 2019. Biden earned roughly $13.5 million.
Hunter has pleaded not guilty to failing to pay $1.4m in taxes between 2016 and 2019, while spending millions of dollars on drugs, escorts, exotic cars and other big-ticket items. His lawyer has said he paid back the money in full.
US district judge Mark Scarsi appeared to give a skeptical reception to dismissal request. At the hearing, Scarsi asked whether Hunter’s lawyers had any evidence that prosecutors had caved to pressure from Republicans, other than the fact that they filed charges after months of accusations by Republicans in Congress and Donald Trump that he had been treated leniently.
https://www.theguardian.com/us-news/2024/mar/...asion-case
================================================
Biden's tax returns show he took advantage of a loophole Obama sought to eliminate
Former Vice President Joe Biden used a major tax loophole to dramatically reduce his overall tax burden shortly after leaving the White House in 2016. He used the loophole months after former President Barack Obama tried to eliminate the exotic tax structure during his final year in office.
Biden directed money he made from books and speeches through an S-corporation, allowing him to reduce his taxable income, tax returns he filed in 2019 show. People who own S-corporations can legally avoid paying a roughly 3.8% tax on revenue provided they pay themselves reasonable compensation.
The tax strategy allowed Biden and his wife, Jill Biden, to accrue $500,000 in tax savings, compared to what he would have paid had Obama’s plan to eliminate the loophole come to fruition, The Wall Street Journal reported in 2019. Biden earned roughly $13.5 million.
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