Obamas pay nearly $100 000 in federal taxes

2015-04-11 18:45

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Washington - President Barack Obama and his wife, Michelle, paid more than $93 000 in federal taxes last year on an adjusted gross income of more than $477 000. Their effective tax rate was 19.6%.

The Obamas lowered their 2014 tax bill by claiming nearly $160 000 in itemised deductions, including $70 712 in charitable donations to 33 different charities. Altogether, they donated nearly 15% of their income, according to tax returns released Friday by the White House.

The largest was a $22 012 donation to the Fisher House Foundation, which supports military families. They also donated $5 000 to Sidwell Friends School, the exclusive private school where daughters Malia and Sasha are enrolled.

The 38-page document, which includes the couple's Illinois state income tax return, shows the president made nearly $395 000 in wages. The couple also reported making $94 889 from the sale of Obama's best-selling books. That's down from more than $116 000 the year before.

Obama received $51 167 from Random House and $43 722 from Dystel & Goderich Literary Management.

The White House released the Obamas' tax returns ahead of the filing deadline on Wednesday.

The Obamas are getting a tax refund of $20 641. They could have received an additional $5 000 but opted to apply that amount to their 2015 tax bill.

The couple reported paying $22 640 in state income tax.

Read more on:    michelle obama  |  barack obama  |  us

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.