Biden Is Hiding a Dirty Secret on Page 13 of his Tax Return

The President’s 2021 tax return shows he’s being hypocritical when he complains the wealthy don’t pay their “fair share” since he and his wife utilized tax avoidance strategies.

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Years have passed since they started doing it.

During 2017 and 2018, the Bidens’ earnings from S corporations were shielded from payroll taxes, as The Western Journal previously reported.

As opposed to categorizing the income from book deals and speaking fees as income, it was structured in a way where the money was distributed as profits through two separate S corporations.

In line with page 13 of their joint tax return, the Bidens were at it again this tax year.

Christopher Jacobs explained in The Federalist that they thus avoided paying a combined 3.8 percent tax – 2.9 percent Medicare payroll tax and 0.9 percent Obamacare surcharge.

In addition, Jill Biden evaded 15.3 percent in Social Security taxes.

Biden didn’t “pay his fair share,” the Treasury Department said.

This is what they did.

Corporate profits of $61,995 were written off by the couple.

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A total of $29,234 came from Joe Biden’s CelticCapri Corporation and $32,761 came from Jill Biden’s Giacoppa Corporation.

Due to Biden’s salary as president, Jacobs reported that he paid all Social Security taxes since he had earned more than $142,800 in tax year 2021.

In other words, income exceeding $142,800 is exempt from Social Security tax.

Presidential salaries are $400,000 per year.

Jacobs argued that Biden should have paid the Medicare tax on the $29,234 he listed as corporate profits, as there is no salary cap for these taxes.

Similarly, Jill Biden earned approximately $67,000 as a teacher at Northern Virginia Community College, which meant she did not meet the $142,800 salary cap and was responsible for nearly $33,000 in corporate profits.

According to Jacob’s calculations, the Bidens still owed the Treasury approximately $6,100.

He believes the family avoided paying an additional $517,000 in Medicare and Obamacare taxes from 2017 to 2020.

Among the $13 million the Bidens routed through their S corporations, less than $800,000 was claimed as salary income.

Generally, S-corporations are required to pay employee shareholders “reasonable compensation” before distributing non-wage income to them, according to the IRS.

The nature of the business determines what is considered income and what is a distribution to an employee shareholder as a result of business activities.

“But to the extent gross receipts are generated by the shareholder’s personal services, then payments to the shareholder-employee should be classified as wages that are subject to employment taxes [Social Security and Medicare],” the IRS explains.

The Bidens clearly fit into this category.

Their companies made money by charging speaking fees and distributing books, which are apparently the only sources of revenue.

The couple’s compensation should’ve been primarily in the form of income, which would have been taxed as employment income.

As it happens, the Bidens’ tax avoidance strategy, again employed in 2021, comes a year after the president decried rich Americans for not paying their “fair share.”

Before complaining about the wealthy not paying their “fair share,” would you consider looking at yourself and making the necessary changes?

Of course, the Bidens’ income doesn’t cover what they may have made from Hunter’s overseas dealings. I’m pretty sure he didn’t pay taxes on any of that.

In a statement, Rep. Jim Jordan said the New York Post’s story showing how Hunter Biden paid his dad’s expenses shows how “involved” Joe was in Hunter’s business affairs.

In response to the first report last July about the messages found on the first son’s abandoned laptop, Jordan, the top Republican on the House Judiciary Committee, spoke out.

“One, it sure looks like Joe Biden was involved. This was a family operation, including his uncle, as I said before,” Jordan said, referring to Joe’s brother James.

According to emails and texts found on Hunter Biden’s computer, some of his father’s expenses had to be paid by him.

“I hope you all can do what I did and pay for everything for this entire family for 30 years,” Hunter Biden complained in January 2019 to his daughter Naomi. “It’s really hard. But don’t worry, unlike pop, I won’t make you give me half your salary.”

There was no evidence of these money transfers on the laptop, but certain expenses were listed as JRB Bills, the president’s initials. Some of the expenses were for home repairs, which amounted to several thousand dollars.

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President Biden’s public comments about his troubled son’s scandalous overseas business activities contradict the messages, Jordan said.

“Remember what Joe Biden said in the debates 18 months ago, he said he didn’t do anything wrong and Hunter wasn’t taking money from business interests with connections to China,” Jordan told “Sunday Morning Futures.”

“There are 4.8 million reasons why that statement Joe Biden made was not accurate because we know he took $4.8 million from CEFC, the Chinese energy company. So yeah, this ties in the entire family.”

In the Washington Post article published March 30 that confirmed the authenticity of the emails found on Hunter Biden’s laptop, the newspaper reported that entities controlled by Hunter Biden and his uncle received $4.8 million from CEFC in 2017 and 2018.