1alpha7 wrote:
You complain that Trump avoids paying taxes! But, totally forget Biden's avoidance of taxes!
Is it OK for the Bidens, but deplorable for Trump, to use legal deductions against taxation?
At least, Trump deducted paid taxes, over $30 Million in paid taxes, deducted from his taxes owed...
The Bidens avoids paying taxes on their $13 Million profit and pays taxes on less than 1/2 Million dollars from their win!
From American T***h Today:
“The Bidens have used their home state’s financial privacy laws to shield his income from public view, by setting up two tax- and t***sparency-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.)”
https://americant***htoday.com/left-news/2020/09/28/joe-biden-exploited-s-corporation-loophole-to-avoid-payroll-tax/?utm_source=sprklst&utm_campaign=rightpatriot-joe-09_28-pmYou complain that Trump avoids paying taxes! But, ... (
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easy to find... seems everyone but trump has released tax returns.. Why???
This is for a couple of years, if you want other years, they are public also.. look and you can see..
https://thehill.com/homenews/campaign/452259-biden-releases-tax-returns-showing-steep-rise-in-incomeFormer Vice President Joe Biden on Tuesday released his tax returns from 2016 to 2018, showing his income increased significantly after leaving office.
Biden's federal tax return for 2016, his last full year as vice president, showed adjusted gross income of nearly $400,000, while his 2017 federal tax return reported adjusted gross income of more than $11 million.
His 2018 federal tax return reported adjusted gross income of nearly $4.6 million.
Biden filed his tax returns jointly with his wife, Jill, during those three years
The release of the documents comes during the former vice president's 2020 p**********l campaign. Many of the other Democratic p**********l candidates released their tax returns earlier this year.
Biden's income of $15.6 million in 2017 and 2018 greatly exceeds the incomes reported on the tax returns of other prominent 2020 candidates, including Sens. Bernie Sanders (I-Vt.), Kamala Harris (D-Calif.) and Elizabeth Warren (D-Mass.), as well as South Bend, Ind. Mayor Pete Buttigieg.
Harris and her husband reported the next highest amount of income in 2018, just under $1.9 million.
The former vice president's campaign said that the Bidens' income in 2016 primarily came from Joe Biden's salary as vice president and Jill Biden's salary as a professor at Northern Virginia Community College.
The majority of the Bidens' post-p**********l income — more than $10 million in 2017 and about $2.3 million in 2018 — came from book payments and paid speaking engagements.
Joe Biden also earned about $370,000 in 2017 and about $405,000 in 2018 from being a professor at the University of Pennsylvania. Jill Biden continued teaching at Northern Virginia Community College in those years.
The Bidens had effective tax rates of 23.5 percent, 33.9 percent and 33.4 percent for 2016, 2017 and 2018, respectively. They donated to charity 1.5 percent of their adjusted gross income in 2016, 9.2 percent in 2017 and 6 percent in 2018.
During the 2008 campaign, the Bidens faced criticism for regularly reporting annual charitable contributions of less than $1,000 in preceding years. In 2018, the Bidens donated a greater percentage of their income to charity than many of the other 2020 p**********l candidates did.
The former vice president's campaign said the couple filed amended 2017 and 2018 tax returns following a "comprehensive review" of their tax filings.
The original 2017 tax return unintentionally double-counted a charitable donation and failed to include income and associated withholdings from the last few weeks that Joe Biden served as vice president.
The original 2018 tax return included a deduction for a donation to a British charity associated with Prince Harry that doesn't have a 501(c)(3) designation.
In addition to releasing his tax returns from 2016 to 2018, Joe Biden also released a financial disclosure form that covers the period from Jan. 1, 2018 through May 31, 2019.
Biden's campaign said the form shows that the former vice president earned about $3.2 million through an S-Corporation during that period for writing and speaking engagements. Many of the fees he was paid for speaking engagements were part of his book tour.
Biden released his tax returns on an annual basis while he was vice president, and also released 10 years of tax returns in 2008. That contrasts with President Trump, who has not made any of his tax returns public.