I've Got Your Clinton Consolidated Tax Returns Right Here

[Stallion]

several of the stories which suggest that there are "shell corporations" set up in Delaware to avoid taxes are mentioned in various schedules that report income from these entities. See for example the Schedule Cs (Profits and Loss from Business) from several different sources including WJC, LLC and ZFS Holdings, LLC mentioned in those stories. Different Schedule Cs for their individual speaking/consulting/author work and the various corporations. The Supplemental Statements to Schedule C toward the back show the sources of such revenue which appear to add up to about $ 40,000,000 or so in 2014 alone

https://www.hillaryclinton.com/tax-returns/

See direct link to 2014 Income Tax Returns

https://www.hillaryclinton.com/p/files/returns/WJC_HRC_2014_Form_1040.pdf

[Viva_La_Revolution]

1. please explain why they need these shell companies, and why the foundation needs 3

[catnhatnh]

2. Because if they accepted the checks with their names on them...

that would be income and about a third due and payable to the government in the following April. But as long as they don't need actual cash they can park that money untaxed and defer payments for years...

[JesterCS]

3. So can I set up a foundation

That my paychecks goto that I get taxed less? Would be nice.....

[Viva_La_Revolution]

4. awesome huh? too bad we all don't have that kind of money to avoid paying taxes on, and

I do believe setting up an LLC gives you assurance that if that 'company' gets sued, for whatever reason, you are not personally responsible. Isn't that cool?

[Stallion]

8. A Foundation is Actually a Separate Legal Entity WITHOUT Shareholders-The Public Owns the Foundation

it becomes part of the public trust and must be used for the charitable purpose for which it is established. It in fact is no longer owned by the Clintons. The assets of the foundation can not be gifted by the Clintons or for example inherited by Chelsea Clinton or any one else

[Stallion]

6. No that Revenue Was Received by the Corp and "Passed Through" to Clintons on Individual Tax Returns

see the Schedule Cs-they reported about $40,000,000.00 (ball park) in revenue from those separate businesses. You can set up such a corporation as a separate tax paying entity or as a corporate entity that "passes through' income to their individual returns.

[2cannan]

5. Though not illegal they are huge hypocrites

Wealthy Clintons Use Trusts to Limit Estate Tax They Back
http://www.bloomberg.com/news/articles/2014-06-17/wealthy-clintons-use-trusts-to-limit-estate-tax-they-back

snip

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.

To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.

snip

“The estate tax has been historically part of our very fundamental belief that we should have a meritocracy,” Hillary Clinton said at a December 2007 appearance with billionaire investor Warren Buffett, who supports estate taxes and is using charitable donations to reduce his eventual bill.

snip

According to county property records, the Clintons split their ownership of the house into separate 50 percent shares, and then placed those shares into trusts. That maneuver has multiple potential benefits, starting with the fact that any appreciation in the house’s value will now happen outside the estate.

Additionally, using IRS interest rates, they can assume a discounted value for the house. Splitting the property into 50 percent shares also allows a valuation discount, because a partial interest in an indivisible house isn’t worth as much as a complete interest.

----------------------------
Too bad for the local schools, etc. and the "regular" folks who have to pay more than their fair share.

[Stallion]

7. Who Is Writting this Crap Maligning the Clintons for Common Business Practices

This is routinely done with just about every will written in the United States for estates above the federal exemption from Estate Tax The exemption amount is indexed each year for inflation. For the 2015 tax year, the estate tax exemption is $5.43 million. It increases to $5.45 million for 2016. It basically allows both the H and W to pass the maximum legal amount so that the estate is not subjected to Estate Tax. All amounts above the maximum allowable exemption are taxed by the estate tax. It would almost be MALPRACTICE for any estate lawyer to fail to draw a will up in this manner. (BTW my Dad was former President of the American Bar Association Real Property, Trust and Estate Law Section) so I'm pretty well familiar with the concepts although I'm more of a litigator. Based on the Clinton annual income they are most likely to be hit pretty hard by the Estate Tax for all amounts in their Estate above $5.43 Million (indexed to inflation in future years)