Properframe wrote:
An S corp has to pay the shareholder/officers a "reasonable compensation". By not declaring a higher salary the Bidens saved paying the 2.9% Medicare tax on the difference. I get 377K. Not sure how Levin got 500K. Seldom attacked by the IRS and politicians routinely do this so it is not going to be legislated away. I have had clients get reamed for paying a 9K salary with a 200K profit. One would think $377K in lost revenue would interest the IRS.
So they made all those millions themselves. How on a govt. salary?