United States of America president and his wife reported their lowest income since the beginning of Barack Obama's presidency on their latest tax return.
The White House released the document on Friday, revealing the Obamas - who filed jointly - made $436,065 in 2015. They paid $81,472 worth of taxes, amounting to an effective tax rate of 18,7 per cent.
The president reported earning $61,000 from his books - a sharp decline from the millions he made when sales surged after his 2009 inauguration.
The 45 pages of documentation, which also include an Illinois state tax return, shows a presidential salary of about $395,00.
The Obamas, who also paid $16,000 in state taxes in Illinois, will be receiving a refund of nearly $23,000 overpaid to the IRS, Daily Mail reports.
Obama and the first lady lowered their tax bill by claiming more than $145,000 in itemized deductions, including tax-deductible donations.
The couple reported making $94,889 from book sales last year. Obama's last book, The Audacity Of Hope, came out in 2006.
His first, Dreams From My Father, was first published in 1995 and was released again in 2004.
No comments:
Post a Comment