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The Bidens have used their home state's financial - privacy laws to shield his income from public view

Posted: Sep 28th, 2020 - 11:43 am In Reply to: Joe Biden Allegedly Exploited S-Corporation Loophole to Avoid Paying - Medicare, Social Security Taxes

setting up two tax- and transparency-avoidance vehicles known as S corporations,” Grim wrote. “He and his wife Jill Biden called them CelticCapri Corp. and Giacoppa Corp., respectively, and, according to the Wall Street Journal, have reported more than $13 million in profits the previous two years that weren’t subject to specific disclosure or self-employment taxes. As CNBC has described, money Biden made from book deals and speeches flowed into the S corporations and was then remitted to Biden and his wife as ‘distributions’ rather than salary. When money is funneled through an S corporation, the recipient doesn’t owe Social Security or Medicare taxes on it, nor can the source of revenue be traced. (In addition to the distributions, the Bidens drew relatively small salaries from the S Corporations: under half a million dollars, for which they owed self-employment taxes.)”

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Joe Biden Allegedly Exploited S-Corporation Loophole to Avoid Paying - Medicare, Social Security Taxes (Views: 293, 2020-09-28, 11:37 am)
- The Bidens set up an S-Corporation to avoid paying more - than half a million dollars in taxes (Views: 202, 2020-09-28, 11:40 am)
- The Bidens have used their home state's financial - privacy laws to shield his income from public view
- Biden made money from book deals and speeches - flowed into the S corporations and was then remitt (Views: 194, 2020-09-28, 11:46 am)
- He should have done what the Clintons did and set up - a "charity" i.e. money laundersing (Views: 196, 2020-09-28, 11:47 am)
- Biden paid 3.7 million in taxes in 2017 - . (Views: 202, 2020-09-28, 11:56 am)
  - Or more appropriately, you are ignorant of real estates - law. You prove your lack of knowledge (Views: 220, 2020-09-28, 2:14 pm)
    - I agree, so I just ignore those posts. They are devoid of - facts. (Views: 199, 2020-09-28, 2:17 pm)
  - He sure is rich if he paid that much in taxes. Considering - how much he makes as a public (Views: 199, 2020-09-28, 3:49 pm)