Just going to leave this here.
Biden is by far the most unethical president during my lifetime, so nothing about him surprises me! In fact, I can’t think of one nice thing to say about him.
Well he should pay his fair share.
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As a former S-corp owner I can tell you this is one of the most vague tax laws ever. S-Corp shareholder-employees must pay themselves a “reasonable salary”.
IMO it is an intentional vague law by congress as to enable selective enforcement. What is a “reasonable salary” is open ended.
Allegedly, Joe and his wife were compensating themselves in large part with distributions while performing functions (work) within the corporation instead of a reasonable salary that would require payroll taxes.
That pretty much describes Congress’ work for the last several decades.
I think this story has previously been reported on in detail, maybe even before the election when he released his tax returns. I recall that the conclusion basically depended on which tax person you asked because it was far from clear. I agree that the definition of reasonable salary is equally unclear.
So, to be fair, Biden used a Tax Accountant/Attorney that felt he paid himself a “reasonable salary” from the S corp.
Which is exactly the same thing Trump has done for decades.
IDK about the Biden issues; not familiar enough with the details. His taxes have been public for many years, so I imagine they’ve been scrutinized for just as long.
The public has never been able to do the same with Trump’s taxes. And, what he’s accused of in NY is far beyond this. He is accused of keeping multiple sets of books and giving expensive, off-record perks that deliberately avoided taxation.
Of course not, but if the exact same scenario happened with Trump you would know all the details because it would have been non stop coverage for months.
And this is why, amatuer accountants would be saying this is “proof” Trump was a tax cheat.