Breaking News: Hunter indicted on 3 charges

[christiefan915]

What has become of it?

I hope any misuse of funds is investigated and those who have misused funds are convicted.
That said, the millions of decent citizens are being accused of these same crimes? They must
be if this AG wants to "dissolve" the whole organization. Be careful what you wish for, it's this
organization that trains law enforcement, holds competitions and supports them.

I know what the NRA's mission is; heck, my father was a member until they lost their way. This isn't about their teachings on gun safety, etc. It's about how the people at the top got corrupted by power.

I'll let you know more after I read the book.

 

[christiefan915]

The IRS requires you to pay yourself a "reasonable income" from your S corp. Just 2% of the multiple millions that Biden made was not a reasonable income. He is a tax cheat just like Hunter.. What happened to the rich should pay their fair share?

I don't understand what you're getting at. Do S Corp. owners even have to pay themselves an income at all? Can they not put the money into savings or investments? And if your main income is from other sources, why can't you just take a small amount from the S corporation?

 

[ExpressLane]

Yeah, but Hunter was in possession of a firearm while intoxicated on an addictive, (mind-altering) stimulant drug, probably Crack Cocaine or Crystal Methylamphetamine. Being in possession of a firearm while you are "off your tit" on a Class (A) drug can have lethal results. The prosecution should take this (drug) factor into account and "throw the book" at the bastard. Hunter also dumped the hand gun he (illegally) purchased into a public trash bin near a school. What if some kid or some local nut-case had discovered it before it was retrieved ?


Dachshund - the WONDER HOUND

DLM....Dachshund Lives Matter

Well a recent ruling by the SC may make owning a gun while doing drugs legal but lying on the form is still illegal. The gun was dumped by Haley Biden not Hunter. But Hunter was responsible for the gun so....

 

[Dutch Uncle]

Why does Trump have to show his income?

He doesn't. He's free to hide his business relationships with Russia and other foreign entities.

 

[ExpressLane]

I don't understand what you're getting at. Do S Corp. owners even have to pay themselves an income at all? Can they not put the money into savings or investments? And if your main income is from other sources, why can't you just take a small amount from the S corporation?

Yes they have to pay themselves a reasonable income. They can't divert all their income into a S corp and say they earned ZERO then pay ZERO Medicare taxes on the money . Biden only took 145K on 11 million and save himself $380 K in taxes. That isn't a reasonable income like the IRS requires. He is a tax cheat just like Hunter. The IRS went arfter a CPA who diverted 220K to an S corp and paid himself 25k thus avoiding his taxes on medicare at a 3.8% rate.

Most people use the 50/50 rule. 50% salary 50% in the S Corp to stay IRS compliant. Biden did 2/98 and the IRS would never have allowed that had he been audited. He is a tax cheat.

 

[christiefan915]

Yes they have to pay themselves a reasonable income. They can't divert all their income into a S corp and say they earned ZERO then pay ZERO Medicare taxes on the money . Biden only took 145K on 11 million and save himself $380 K in taxes. That isn't a reasonable income like the IRS requires. He is a tax cheat just like Hunter. The IRS went arfter a CPA who diverted 220K to an S corp and paid himself 25k thus avoiding his taxes on medicare at a 3.8% rate.

On his 2022 form he paid additional Medicare taxes (page 12.) I can't find the 2017 form online so perhaps you can link it. Sorry but I'm not taking the word of a Biden detractor that he didn't pay all his taxes without proof in writing.

 

[ExpressLane]

On his 2022 form he paid additional Medicare taxes (page 12.) I can't find the 2017 form online so perhaps you can link it. Sorry but I'm not taking the word of a Biden detractor that he didn't pay all his taxes without proof in writing.

The tax people say he saved himself (illegally) $380,000 by avoiding payroll taxes. The scam is to divert your income into a S corp then pay yourself an outrageously low salary (Subject to payroll taxes) then pay yourself in profit distributions (not subject to payroll taxes). Payroll taxes are 3.8%. Biden is a tax cheat.

I used the 50/50 rule for my S Corp. That is pretty standard for most S Corp owners.

 

[christiefan915]

The tax people say he saved himself (illegally) $380,000 by avoiding payroll taxes. The scam is to divert your income into a S corp then pay yourself an outrageously low salary (Subject to payroll taxes) then pay yourself in profit distributions (not subject to payroll taxes). Payroll taxes are 3.8%. Biden is a tax cheat.

I used the 50/50 rule for my S Corp. That is pretty standard for most S Corp owners.

Like I said, I'll believe it when I see the tax forms myself. It seems highly improbable that he would have posted 25 years' worth of returns with blatant dishonesty on one or two of them. Why is this only coming to public attention now, when he posted all his returns even before he was elected?

 

[ExpressLane]

Like I said, I'll believe it when I see the tax forms myself. It seems highly improbable that he would have posted 25 years' worth of returns with blatant dishonesty on one or two of them. Why is this only coming to public attention now, when he posted all his returns even before he was elected?

Joe isn't known to be very smart. Here is what the LIBERAL Washington Post says . Also you will find his 2017 and 2018 returns pay attention to around page 13 on 2017

https://www.washingtonpost.com/poli...essive-use-tax-loophole-hes-trying-shut-down/

 

[christiefan915]

Joe isn't known to be very smart. Here is what the LIBERAL Washington Post says . Also you will find his 2017 and 2018 returns pay attention to around page 13 on 2017

https://www.washingtonpost.com/poli...essive-use-tax-loophole-hes-trying-shut-down/

Whether you think Joe is smart is irrelevant. We're talking about the person who actually did Biden's taxes here.

I'm not a tax attorney or CPA so what am I missing? On page twelve he reported $10 million plus in income from the two S corporations. He lists the amount subject to tax as $145,833.

For 2022, the schedule SE instructions say "the maximum amount of self-employment income subject to social security tax is $147,000." (https://www.irs.gov/instructions/i1040sse) What was the maximum subject to tax in 2017? And where do the supposed tax experts come up with the amount $380K that he allegedly saved in payroll taxes?

Look at page 23 of the return for additional medicare taxes.

I'm still not buying what you're trying to sell because you haven't shown anything that looks illegal.

 

[ExpressLane]

Whether you think Joe is smart is irrelevant. We're talking about the person who actually did Biden's taxes here.

I'm not a tax attorney or CPA so what am I missing? On page twelve he reported $10 million plus in income from the two S corporations. He lists the amount subject to tax as $145,833.

[FONT=&]For 2022, the schedule SE instructions say "the maximum amount of self-employment income subject to social security tax is $147,000." ([/FONT]https://www.irs.gov/instructions/i1040sse) [FONT=&]What was the maximum subject to tax in 2017? And where do the supposed tax experts come up with the amount $380K that he allegedly saved in payroll taxes?

Look at page 23 of the return for additional medicare taxes.

I'm still not buying what you're trying to sell because you haven't shown anything that looks illegal.[/FONT]

You still have pay income tax on the full $10 million but you only have to tay payroll taxes on your ACTUAL Salary not distributions from your S corp. So if you earn 10 million but pay yourself a salary of one dollar a year $1 you would owe income tax on the full ten million but only 3.8 cents in payroll taxes on the one dollar you paid yourself as your salary. On Biden's taxes in claimed a ridiculously low 2% salary from his 10 million income so he could avoid payroll taxes on his 98% of 10 million. It is a tax cheating and the IRS would have nailed him on it had they audited him. Most people use the 50/50 rule. not the 2/98 rule Your God is a tax cheat.

 

[ExpressLane]

Whether you think Joe is smart is irrelevant. We're talking about the person who actually did Biden's taxes here.

I'm not a tax attorney or CPA so what am I missing? On page twelve he reported $10 million plus in income from the two S corporations. He lists the amount subject to tax as $145,833.

[FONT=&]For 2022, the schedule SE instructions say "the maximum amount of self-employment income subject to social security tax is $147,000." ([/FONT]https://www.irs.gov/instructions/i1040sse) [FONT=&]What was the maximum subject to tax in 2017? And where do the supposed tax experts come up with the amount $380K that he allegedly saved in payroll taxes?

Look at page 23 of the return for additional medicare taxes.

I'm still not buying what you're trying to sell because you haven't shown anything that looks illegal.[/FONT]

Christ what is 3.8% of 10,000,000 ( actually on 9,800,000 just rounding up)

Maybe this will help

Active S Corp shareholders receive wage income and a profit distribution from S corporations. The wage income is subject to payroll taxes. The payroll tax is 15.3 percent for the first $117,000, about 2.9 percent for the next $83,000, and then 3.8 percent for all income that exceeds $200,000.

https://www.upcounsel.com/s-corp-in... wage income,all income that exceeds $200,000.

Joe Biden is a tax cheat just like Hunter taking deductions for his whores. No real difference. Both are illegal tax cheats.

 

[christiefan915]

Christ, what is 3.8% of 10,000,000 ( actually on 9,800,000 just rounding up)

Maybe this will help

https://www.upcounsel.com/s-corp-in... wage income,all income that exceeds $200,000.

Joe Biden is a tax cheat just like Hunter taking deductions for his whores. No real difference. Both are illegal tax cheats.

Why did you and the "tax specialist" skip over the part about the tax cap on SE?

Btw, you didn't have to ask Christ for the answer, it's simple math.

 

[Dutch Uncle]

So you and your tax specialist didn't know about the tax cap? You haven't addressed that. You're still looking for a gotcha.

You can always tell Doktor HCQ but you can't tell him much. Agreed on Trumper gotcha politics.

As for Hunter, the gun and drug charges may be his undoing. He doesn't deserve 10-20 years the Trumpers want as revenge for the seditionists being sentenced for seeking to overthrow the government, but, IMHO, he does deserve to do time for his crimes. 6-12 months seems fair.

Note too that ExLax claims Ashli Babbitt was just an innocent tourist murdered by an overzealous black cop as revenge for George Floyd.

 

[christiefan915]

Christ what is 3.8% of 10,000,000 ( actually on 9,800,000 just rounding up)

Maybe this will help

https://www.upcounsel.com/s-corp-in... wage income,all income that exceeds $200,000.

Joe Biden is a tax cheat just like Hunter taking deductions for his whores. No real difference. Both are illegal tax cheats.

Look at page one of the return, moron. He reported $9,578,639 in total income. He originally paid $3,551,583 in taxes. The amended amount was $3,742,574, so he paid an additional $1,666 to make up for the shortfall. It looks like 37% of the total income was paid in taxes.

You didn't go through the whole 2017 return, did you.</rhetorical>

 

[ExpressLane]

Why did you and the "tax specialist" skip over the part about the tax cap on SE?

Btw, you didn't have to ask Christ for the answer, it's simple math.

Christ probably is much better at tax code than you. Maybe you should ask your CPA. Honestly I can't tell if you are playing dumb are just plain old dumb.

 

[ExpressLane]

Look at page one of the return, moron. He reported $9,578,639 in total income. He originally paid $3,551,583 in taxes. The amended amount was $3,742,574, so he paid an additional $1,666 to make up for the shortfall. It looks like 37% of the total income was paid in taxes.

You didn't go through the whole 2017 return, did you.</rhetorical>

OK Idiot, I know he paid income tax. This is about how much payroll tax did he pay. He did pay his fair share of payroll tax because he directed his income to an S Corp and paid himself an unrealistically low salary. Money in a S Corp is subject to income tax. Money taken as a salary is subject to payroll taxes. Money taken as distributions are not subject to payroll deduction. You pay 3.8 of your salary in payroll deduction. So the scam is take an unrealistically low salary from your S corp and don't pay payroll taxes on the bulk of your money.

 

[christiefan915]

Christ probably is much better at tax code than you. Maybe you should ask your CPA. Honestly I can't tell if you are playing dumb are just plain old dumb.

I already said I'm not up to speed on S corporations so save your sarcasm for when it matters. It doesn't mean I can't learn... from somebody more qualified to teach than you.

The income from Biden's S corps. was passive income. "Passive incomes include earnings from a rental property, limited partnership, or other business in which a person is not actively involved—a silent investor, for example. It can also include interest generated from a bond or savings account, dividends paid out by a stock investment, and unemployment benefits."

"Under current law, limited partners who materially participate in a partnership’s business are not subject to self-employment tax. Members of an S corporation who materially participate in the S corporation’s business are subject to self-employment tax only on “reasonable compensation” received in their capacity as an “employee”. These individuals are also exempt from the 3.8% Medicare or “net investment income tax,” (NIIT) which currently applies only to certain passive income and gains."

https://us-tax.org/2021/07/01/all-you-need-to-know-about-the-3-8-medicare-net-investment-income-tax-how-pres-biden-will-expand-who-pays-it/

 

[ExpressLane]

Why did you and the "tax specialist" skip over the part about the tax cap on SE?

Btw, you didn't have to ask Christ for the answer, it's simple math.

Because of THIS.

Active S Corp shareholders receive wage income and a profit distribution from S corporations. The wage income is subject to payroll taxes. The payroll tax is 15.3 percent for the first $117,000, about 2.9 percent for the next $83,000, and then 3.8 percent for all income that exceeds $200,000.

 

[christiefan915]

OK Idiot, I know he paid income tax. This is about how much payroll tax did he pay. He did pay his fair share of payroll tax because he directed his income to an S Corp and paid himself an unrealistically low salary. Money in a S Corp is subject to income tax. Money taken as a salary is subject to payroll taxes. Money taken as distributions are not subject to payroll deduction. You pay 3.8 of your salary in payroll deduction. So the scam is take an unrealistically low salary from your S corp and don't pay payroll taxes on the bulk of your money.

"Under current law, limited partners who materially participate in a partnership’s business are not subject to self-employment tax. Members of an S corporation who materially participate in the S corporation’s business are subject to self-employment tax only on “reasonable compensation” received in their capacity as an “employee”. These individuals are also exempt from the 3.8% Medicare or “net investment income tax,” (NIIT) which currently applies only to certain passive income and gains."