Hey...PSSST.... Don't tell anyone, but Joe Biden set up an S1 Coroporation - a tax loophole - to AVOID paying Social Security and Medicare tax....
While the media is currently having a fit over Trump’s taxes and the lack of income taxes he has paid, what they seem to forget is that Biden was exposed back in 2019 for creating tax loopholes for himself in order to avoid the payroll tax.
Biden and his wife Jill had created S-corporations in order to report all speaking fees and book royalties they received as corporate profit rather than taxable income.
https://www.breitbart.com/politics/...d-paying-medicare-social-security-taxes/The former vice president and 2020 presidential contender and his wife Jill Biden reported about $10 million in income in 2017 from a pair of S-corporations, CelticCapri and Giacoppa,” Mercado wrote. “The two entities were paid for the couple’s book deals and speaking gigs. That means any amounts the Bidens received as a distribution wasn’t subject to the 15.3% combined Social Security and Medicare tax. Here’s how it works. S-corporations pay their employee shareholders in two ways: wages and distributions. The S-corps reported another $3.2 million in income in 2018.
