The White House released the completed 1040 forms today for Barack Obama and his wife Michelle and for Joe Biden and his wife Jill.
As someone else said online earlier, time to get a new accountant.
Here are details:
For 2013, the Obamas reported adjusted gross income of $481,098 – no pauper’s salary, but a 21% drop from the $608,611 they reported in 2012.
With the smaller take home pay, their charitable contributions similarly shrank – from $150,034 in 2012 to $59,251 in 2013.
The big difference: book sales are down. The Obamas reported $273,739 income from publishers/agents in 2012, but only $116,180 in 2013.
Vice President Biden and wife Jill Biden also released their returns Friday, with adjusted gross income of $407,009, a small increase over the $385,072 they reported a year ago.
The Bidens contributed $20,523 to charity in 2013, up from just $7,190 in 2012. Conservative commentators like Bill O’Reilly of Fox News have been critical of Biden in past years for not giving enough money to charity.
The Obamas paid $98,169 in total tax for 2013 but the Bidens paid more: $114,492 in total federal and state taxes because they pay state taxes in both Virginia and Delaware.
The Obama family tax return:
The Biden family tax return: