Since we're hearing that Donald Trump is such a bad dude for using the tax code to his advantage, let's hear from an expert about how the other major candidate for president handles his responsibility to the IRS and his country. This is an excerpt from an Epoch Times opinion piece:
Joe Biden and his wife “used” American tax laws to reduce their tax burden. Keep in mind, Biden’s income was mostly the book deal fees, speaking income and teaching – the kind of stuff that requires ordinary Americans to pay ordinary income taxes and self-employment taxes.
The Bidens “reduced” their tax burden using two corporations: CelticCapri Corp. and Giacoppa Corp. The Bidens then paid themselves a “salary” on part of their income BUT “they circumvented the payroll tax on the nearly 95% of their income that remained.” As a business start-up attorney of over three decades, I have never recommended such a scheme.
In doing so, in that questionable manner, the Bidens avoided approximately $385,000 in Medicare taxes — and here is the kicker. The Bidens also avoided paying $120,000 in Obamacare taxes. You know, the law Biden and Democrats claim is necessary to save American healthcare. Biden literally, personally, defunded part of Obamacare — not exactly saintly.
https://www.theepochtimes.com/joe-b...dium=email&utm_campaign=breaking-2020-10-18-2
Joe Biden and his wife “used” American tax laws to reduce their tax burden. Keep in mind, Biden’s income was mostly the book deal fees, speaking income and teaching – the kind of stuff that requires ordinary Americans to pay ordinary income taxes and self-employment taxes.
The Bidens “reduced” their tax burden using two corporations: CelticCapri Corp. and Giacoppa Corp. The Bidens then paid themselves a “salary” on part of their income BUT “they circumvented the payroll tax on the nearly 95% of their income that remained.” As a business start-up attorney of over three decades, I have never recommended such a scheme.
In doing so, in that questionable manner, the Bidens avoided approximately $385,000 in Medicare taxes — and here is the kicker. The Bidens also avoided paying $120,000 in Obamacare taxes. You know, the law Biden and Democrats claim is necessary to save American healthcare. Biden literally, personally, defunded part of Obamacare — not exactly saintly.
https://www.theepochtimes.com/joe-b...dium=email&utm_campaign=breaking-2020-10-18-2
