Posted on 09/28/2020 7:46:14 AM PDT by mplc51
The establishment media is all aflutter Monday after a New York Times story over the weekend about incumbent GOP President Donald Trump’s tax records, but it turns out Democrat candidate former Vice President Joe Biden allegedly used a series of tax code loopholes to avoid paying hundreds of thousands of dollars in taxes over the years.
Back in August, the Wall Street Journal’s Chris Jacobs exposed how the Biden family structured what is called an “S-Corp” to avoid paying hundreds of thousands of dollars in taxes.
(Excerpt) Read more at breitbart.com ...
Ahhh, that’s the word that’s missing in the Trump tax story. “Allegedly”.
Those are business taxes, are they not? What kind of business does Sleepy Joe run?
How long have you been a PSYCHOPATH, JoeJoe? Why do you continue to DECEIVE your fellow Americans. You can change the path any day. Drop out. Apologize. It would be a start. Your handler$ might not let you though.
Well, I guess now the tax question isn’t coming up at the debate after all.
Who are the officers of this S Corp?
Surely we will find THAT out.
Texas Eagle: The S-Corporation Loophole to Avoid Paying Medicare, Social Security Taxes are business-related taxes.
What kind of business did the Biden family run?
The most cogent answer is that the Biden Crime Family Syndicate are "in business" solely to enrich themselves....at taxpayers' expense.
Wow. With such low overhead, the profit margin must be enormous.
With all the money he gets from Chins it must be sales of top secret data odd is it not their new fighter jet look just like ours.
LOL....good one.
John Edwards did this too. A gray area of tax law. You pay yourself ‘distributions’ instead of salary. IRS can pierce the Corporate veil and see you are doing this just to avoid SS and Medicare IF they see your salary is way below a reasonable market value for the job you say you are doing.
Whereas what Trump did was use every legal loophole possible.
I would love to see Dr. President Trump answer any question Chris Wallace asks him about his taxes to turn to Joe and say, “Sleepy, you filed returns as an S-corp. What kind of business did you run?”
Delaware is one big tax loop hole.
He should have taken Clintonomics 101 and set up a charity instead.
Article say they still took in half a million a year from the corp. and had to pay taxes on it.
I’d rather vote for someone who didn’t pay their taxes than someone who has lived off of others taxes for 47 years...
The most cogent answer is that the Biden Crime Family Syndicate are “in business” solely to enrich themselves....at taxpayers’ expense.
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BIDEN INC: high profit low overhead operation when your ONLY stock in trade is selling gummit access & assets
The Bidens have used their home state’s financial privacy laws to shield his income from public view, by setting up two tax- and transparency-avoidance vehicles known as S corporations. 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.)
Please note the last sentence - "the Bidens drew relatively small salaries from the S Corporations" ...
The owners of the S Corp are supposed to pay Reasonable Salaries ... lots of small businesses have been hammered by the IRS for not following the rules.
There are companies that provide RCP reports for every conceivable industry, for a reasonable sum. Pay yourself a reasonable salary and be done with it!
“What kind of business did you run?”
MONKEY BUSINESS!
If you click on the link you can see a picture of Joe Biden flashing the alleged (by lying liberals) “white power” sign.
Otherwise known as the OK sign.
Who cares, the media is part of his campaign, they aren’t interested.
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