How much do the Obamas pay?
US President Barack Obama and wife Michelle have to cough up for the taxman too but they sure know how to offset it with the right deductions.
US President Barack Obama and wife Michelle paid more than $US93,000 ($A120,920) in federal taxes last year on an adjusted gross income of more than $US477,000.
Their effective tax rate was 19.6 per cent.
The Obamas lowered their 2014 tax bill by claiming nearly $US160,000 in itemised deductions, including $US70,712 in charitable donations to 33 different charities.
Altogether, they donated nearly 15 per cent of their income, according to tax returns released Friday by the White House. The largest was a $US22,012 donation to the Fisher House Foundation, which supports military families. They also donated $US5000 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 $US395,000 in wages.
The couple also reported making $US94,889 from the sale of Obama’s best-selling books. That’s down from more than $US116,000 the year before.
Obama received $US51,167 from Random House and $US43,722 from Dystel & Goderich Literary Management.
The White House released the Obamas’ tax returns ahead of the filing deadline Wednesday.
The Obamas are getting a tax refund of $US20,641. They could have received an additional $US5000 but opted to apply that amount to their 2015 tax bill.
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