Biden saved as much as $500,000 using tax loophole
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Posted On: 06/13/2024 4:22:59 PM
Biden saved as much as $500,000 using tax loophole Obama tried to close
Former Vice President Joe Biden saved half-a-million dollars on taxes using a loophole that former President Barack Obama attempted to abolish.
Biden and his wife, Jill Biden, channeled money from book sales and speeches through S corporations rather than claiming to be self-employed, skirting the 3.8% tax, according to tax records released this week and reviewed by the Wall Street Journal. The Bidens saved up to $500,000 with the shuffle.
Former Vice President Joe Biden saved half-a-million dollars on taxes using a loophole that former President Barack Obama attempted to abolish.
Biden and his wife, Jill Biden, channeled money from book sales and speeches through S corporations rather than claiming to be self-employed, skirting the 3.8% tax, according to tax records released this week and reviewed by the Wall Street Journal. The Bidens saved up to $500,000 with the shuffle.
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