Biden made money from book deals and speeches - flowed into the S corporations and was then remitt Posted: Sep 28th, 2020 - 11:46 am In Reply to: Joe Biden Allegedly Exploited S-Corporation Loophole to Avoid Paying - Medicare, Social Security Taxes
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.)
CNBC
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