Nostra
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- Oct 7, 2019
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Crazy Joe formed an S corp so he could avoid paying the taxes he owed.
Joe Biden Exploited S-Corporation Loophole to Avoid Payroll Tax
The establishment media is all aflutter Monday after a New York Times story over the weekend about incumbent GOP President Donald Trumpās tax records, but it turns out Democrat candidate former Vice President Joe Biden 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 Journalās Chris Jacobs exposed how the Biden family structured what is called an āS-Corpā to avoid paying hundreds of thousands of dollars in taxes.
āHow the Bidens Dodged the Payroll Tax,ā was Jacobsā headline on Aug. 10.
In it, the Journal details how the Bidens set up an S-Corporation to avoid paying more than half a million dollars in taxes they would have otherwise owed.
āJoe Biden responded to President Trumpās partial suspension of payroll-tax collections with a statement calling it the āfirst shot in a new, reckless war on Social Security,āā Jacobs wrote. He continued: āāOur seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.ā Mr. Bidenās objections might be more persuasive had he and his wife, Jill, not gone out of their way to avoid funding seniorsā entitlement benefits. According to their tax returns, in 2017 and 2018 the Bidens and his wife Jill avoided payroll taxes on nearly $13.3 million in income from book royalties and speaking fees. They did so by classifying the income as S-corporation profits rather than taxable wages.ā
Jacobs continued in his expose by noting the corporation the Bidens established to avoid paying the payroll taxes on millions of dollars in income amounts to more than half a million dollars in taxes that Joe and Jill Biden did not pay.
Joe Biden Exploited S-Corporation Loophole to Avoid Payroll Tax
The establishment media is all aflutter Monday after a New York Times story over the weekend about incumbent GOP President Donald Trumpās tax records, but it turns out Democrat candidate former Vice President Joe Biden 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 Journalās Chris Jacobs exposed how the Biden family structured what is called an āS-Corpā to avoid paying hundreds of thousands of dollars in taxes.
āHow the Bidens Dodged the Payroll Tax,ā was Jacobsā headline on Aug. 10.
In it, the Journal details how the Bidens set up an S-Corporation to avoid paying more than half a million dollars in taxes they would have otherwise owed.
āJoe Biden responded to President Trumpās partial suspension of payroll-tax collections with a statement calling it the āfirst shot in a new, reckless war on Social Security,āā Jacobs wrote. He continued: āāOur seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.ā Mr. Bidenās objections might be more persuasive had he and his wife, Jill, not gone out of their way to avoid funding seniorsā entitlement benefits. According to their tax returns, in 2017 and 2018 the Bidens and his wife Jill avoided payroll taxes on nearly $13.3 million in income from book royalties and speaking fees. They did so by classifying the income as S-corporation profits rather than taxable wages.ā
Jacobs continued in his expose by noting the corporation the Bidens established to avoid paying the payroll taxes on millions of dollars in income amounts to more than half a million dollars in taxes that Joe and Jill Biden did not pay.
Joe Biden Exploited S-Corporation Loophole to Avoid Payroll Tax
Joe Biden is accused of using a series of tax code loopholes to avoid paying hundreds of thousands of dollars in taxes over the years.
www.breitbart.com