General Discussion

RandySF

(59,234 posts) Fri Aug 24, 2018, 11:51 PM Aug 2018

NY-GOV: "Socialist" Nixon paid wife salary, used corporation to curb her taxes, new documents show

Before Cynthia Nixon’s wife Christine Marinoni landed on the city payroll, she got a salary from — Cynthia Nixon.

Newly-released tax documents show that Marinoni in 2013 drew a $96,200 salary — $117,560 counting retirement contributions — from The Fickle Mermaid, a pass-through corporation Nixon set up to handle her acting income and expenses.

Nixon paid Marinoni a salary because of her role as her business partner, a campaign spokeswoman said.

The company stopped paying Marinoni in 2014, when she got a job in the city Department of Education under Mayor de Blasio, a longtime Nixon pal whose campaign she worked on.

Marinoni earned $86,992 from the city in 2014, in part because she did not work the full year; $125,611 in 2015, $124,768 in 2016 and $128,092 in 2017. She resigned from her city gig earlier this year, shortly before Nixon announced her candidacy for governor.
After weeks of hounding from Gov. Cuomo’s campaign, Nixon on Friday released five years of tax returns filed by the couple and the corporation. Reporters were allowed to review them at her campaign headquarters for three hours, but were now allowed to copy or photograph them.

The Fickle Mermaid is an “S corporation” which Nixon set up under IRS rules to take in her earnings as an actress. The corporation then paid salaries to Marinoni and Nixon.

S corporations are perfectly legal — but in a statement, Cuomo implied Nixon was using her S corporation to avoid taxes.
“Her actions don't match her rhetoric of increased taxes and wealth redistribution,” Cuomo’s campaign said in a statement. “While asking New Yorkers making $300,000 a year to pay more in taxes, she's shielded her fortune through an S Corporation to reduce both her federal and state tax liability.”

Cuomo also charged Nixon with “hypocrisy” for giving reporters three hours to go through her records.

http://www.nydailynews.com/news/politics/ny-pol-cynthia-nixon-taxes-christine-marinoni-20180824-story.html#

28 replies

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NY-GOV: "Socialist" Nixon paid wife salary, used corporation to curb her taxes, new documents show (Original Post) RandySF Aug 2018 OP

Silly. David__77 Aug 2018 #1

That's exactly why she did that radical noodle Aug 2018 #2

Right- wingers accuse progressives of hypocrisy for having any money at all. David__77 Aug 2018 #3

It's not about her money RandySF Aug 2018 #4

Are people supposed to not use tax deductions and tax credits they want eliminated? David__77 Aug 2018 #5

It wasn't a real business the way I understood it radical noodle Aug 2018 #12

No, people should not take advantage of tax credits they publicly want eliminated RandySF Aug 2018 #16

She wants to eliminate payroll as a business expense? Voltaire2 Aug 2018 #19

I don't know that that's true. David__77 Aug 2018 #22

Of course it isn't true. Voltaire2 Aug 2018 #28

I'm not voting for Nixon Retrograde Aug 2018 #6

More like a way to pay less taxes n/t radical noodle Aug 2018 #13

Or they were business partners and she was paid a salary. Voltaire2 Aug 2018 #18

That could be too radical noodle Aug 2018 #20

So best to assume the worst and attack her? Voltaire2 Aug 2018 #21

I didn't attack her radical noodle Aug 2018 #27

There is no "there", there. OhioBlue Aug 2018 #7

Well, as long as the spouse is really an employee radical noodle Aug 2018 #14

Message auto-removed Name removed Aug 2018 #25

This is why all politicians should be required to release their tax returns. SunSeeker Aug 2018 #8

And what kind of person is that, in this case? JHB Aug 2018 #9

Read the thread; there are a few suggestions. I don't have a dog in this hunt either, I live in CA. SunSeeker Aug 2018 #10

The taxes were paid. So BFG. Why are we shooting at Democrats who are withi the law? marble falls Aug 2018 #11

Agreed. Sienna86 Aug 2018 #15

Lulzd. Voltaire2 Aug 2018 #17

So the wife received a salary from the S-Corp which then becomes taxable to her. LiberalFighter Aug 2018 #23

Lots of family businesses pay both spouses a salary. MineralMan Aug 2018 #24

What bullshit jberryhill Aug 2018 #26

David__77

(23,511 posts)

1. Silly.

Reply to RandySF (Original post)

Fri Aug 24, 2018, 11:58 PM

Aug 2018

Of course, income received from an S Corp is taxable.

radical noodle

(8,013 posts)

2. That's exactly why she did that

Reply to RandySF (Original post)

Fri Aug 24, 2018, 11:59 PM

Aug 2018

It doesn't particularly surprise me, and it isn't illegal... but it's sure as hell hypocritical.

David__77

(23,511 posts)

3. Right- wingers accuse progressives of hypocrisy for having any money at all.

Reply to radical noodle (Reply #2)

Sat Aug 25, 2018, 12:03 AM

Aug 2018

I’m not aware of Nixon calling for people not to set up S corps.

RandySF

(59,234 posts)

4. It's not about her money

Reply to David__77 (Reply #3)

Sat Aug 25, 2018, 12:05 AM

Aug 2018

It's taking advantage of the system she's using as an issue against Cuomo.

David__77

(23,511 posts)

5. Are people supposed to not use tax deductions and tax credits they want eliminated?

Reply to RandySF (Reply #4)

Sat Aug 25, 2018, 12:11 AM

Aug 2018

Are people supposed to close businesses if they want corporate regulations changed? That makes no sense to me.

radical noodle

(8,013 posts)

12. It wasn't a real business the way I understood it

Reply to David__77 (Reply #5)

Sat Aug 25, 2018, 01:23 AM

Aug 2018

It was just a corporation to run money through and get deductions.

RandySF

(59,234 posts)

16. No, people should not take advantage of tax credits they publicly want eliminated

Reply to David__77 (Reply #5)

Sat Aug 25, 2018, 05:06 AM

Aug 2018

Not if they want to take a principled stand. I remember Trump in 2016 arguing the same thing while he took advatage of the tax code.

Voltaire2

(13,174 posts)

19. She wants to eliminate payroll as a business expense?

Reply to RandySF (Reply #16)

Sat Aug 25, 2018, 09:36 AM

Aug 2018

I didn't know that. Seems harsh.

David__77

(23,511 posts)

22. I don't know that that's true.

Reply to Voltaire2 (Reply #19)

Sat Aug 25, 2018, 10:34 AM

Aug 2018

I didn’t find a reference to that.

Voltaire2

(13,174 posts)

28. Of course it isn't true.

Reply to David__77 (Reply #22)

Sat Aug 25, 2018, 03:21 PM

Aug 2018

The op’s ‘issue’ is rank horseshit

Retrograde

(10,158 posts)

6. I'm not voting for Nixon

Reply to RandySF (Original post)

Sat Aug 25, 2018, 12:35 AM

Aug 2018

since I don't live in New York, but I'm having a hard time seeing what's wrong with this. It was her income, she chose to pay her partner for whatever (which may have something to do with New York not being a community property state: it may have been a way of providing her with some income and an earnings history). As long as they paid the required taxes, I don't see the problem.

radical noodle

(8,013 posts)

13. More like a way to pay less taxes n/t

Reply to Retrograde (Reply #6)

Sat Aug 25, 2018, 01:27 AM

Aug 2018

Voltaire2

(13,174 posts)

18. Or they were business partners and she was paid a salary.

Reply to radical noodle (Reply #13)

Sat Aug 25, 2018, 06:31 AM

Aug 2018

radical noodle

(8,013 posts)

20. That could be too

Reply to Voltaire2 (Reply #18)

Sat Aug 25, 2018, 09:59 AM

Aug 2018

but what was her job? If it was Nixon's pay from acting, then what was her spouse doing for that business? I'm not saying she didn't play a role, but it's an awfully classic way to reduce one's taxes. I'm also not saying that it was necessarily illegal.

I just think she made it seem worse by allowing them to look for only 3 hours. That makes her look guilty of something even if she isn't.

Voltaire2

(13,174 posts)

21. So best to assume the worst and attack her?

Reply to radical noodle (Reply #20)

Sat Aug 25, 2018, 10:15 AM

Aug 2018

radical noodle

(8,013 posts)

27. I didn't attack her

Reply to Voltaire2 (Reply #21)

Sat Aug 25, 2018, 01:50 PM

Aug 2018

Where did I do that?

OhioBlue

(5,126 posts)

7. There is no "there", there.

Reply to RandySF (Original post)

Sat Aug 25, 2018, 12:58 AM

Aug 2018

If one has a business and employs a spouse, this is a logical, legal and ethical framework for doing so.

radical noodle

(8,013 posts)

14. Well, as long as the spouse is really an employee

Reply to OhioBlue (Reply #7)

Sat Aug 25, 2018, 01:28 AM

Aug 2018

and not just getting a salary while being a ghost worker.

Response to OhioBlue (Reply #7)

Name removed Message auto-removed

SunSeeker

(51,709 posts)

8. This is why all politicians should be required to release their tax returns.

Reply to RandySF (Original post)

Sat Aug 25, 2018, 01:09 AM

Aug 2018

5 years of tax returns (as were released by Nixon) definitely reveal who a person really is.

JHB

(37,162 posts)

9. And what kind of person is that, in this case?

Reply to SunSeeker (Reply #8)

Sat Aug 25, 2018, 01:13 AM

Aug 2018

Speaking as a person with no dog in this hunt because I don't live in New York and am not contributing to either candidate.

SunSeeker

(51,709 posts)

10. Read the thread; there are a few suggestions. I don't have a dog in this hunt either, I live in CA.

Reply to JHB (Reply #9)

Sat Aug 25, 2018, 01:19 AM

Aug 2018

But I am a big fan of all politicians being required to release their tax returns. Aren't you?

marble falls

(57,236 posts)

11. The taxes were paid. So BFG. Why are we shooting at Democrats who are withi the law?

Reply to RandySF (Original post)

Sat Aug 25, 2018, 01:19 AM

Aug 2018

Sienna86

(2,149 posts)

15. Agreed.

Reply to marble falls (Reply #11)

Sat Aug 25, 2018, 03:38 AM

Aug 2018

Why are folks going after Cynthia Nixon?
I can easily understand why she is preferred over Cuomo.
Aren’t there bigger fish to fry?

Voltaire2

(13,174 posts)

17. Lulzd.

Reply to RandySF (Original post)

Sat Aug 25, 2018, 06:29 AM

Aug 2018

LiberalFighter

(51,094 posts)

23. So the wife received a salary from the S-Corp which then becomes taxable to her.

Reply to RandySF (Original post)

Sat Aug 25, 2018, 10:55 AM

Aug 2018

MineralMan

(146,331 posts)

24. Lots of family businesses pay both spouses a salary.

Reply to RandySF (Original post)

Sat Aug 25, 2018, 11:02 AM

Aug 2018

Generally, both people work very hard to keep the company going. There's absolutely nothing wrong with the practice.

This story smells like an attempt to cast aspersions on Nixon.

Personally, I don't think she stands a ghost of a chance, and I don't live in NY anyhow. But, this story smacks of rumor-mongering through implication of wrong-doing.

jberryhill

(62,444 posts)

26. What bullshit

Reply to RandySF (Original post)

Sat Aug 25, 2018, 01:28 PM

Aug 2018

I don’t even see how this reduces their tax liability in the first place. The only thing an “S” corpoaration does is to simplify some personal accounting while taxing income at the applicable personal rate.

I know nothing about this race, but this is Grade A bullshit here.

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