Obamas pay $98,169 in taxes on income of $481,098

jamesmith

http://news.yahoo.com/obamas-pay ... 7193--politics.html

WASHINGTON (AP) — President Barack Obama and first lady Michelle Obama paid $98,169 in taxes on $481,098 income last year, according to tax returns the White House released Friday. They paid an effective federal income tax rate of 20.4 percent.

The couple's 2013 federal income tax return was posted on the White House website four days before the tax filing deadline.

The 42-page document shows the Obamas reported donating $59,251 to 32 charities. That works out to 12.3 percent of their adjusted gross income. Their largest charitable gift, $8,751, went to the Fisher House Foundation, which supports military families.

The Obamas also released their Illinois income tax return showing they paid $23,328 in income taxes to their home state.

Separately, Vice President Joe Biden and his wife, Jill, paid $96,378 in federal tax last year on adjusted gross income of $407,009. They paid an effective federal income tax rate of 23.7 percent, according to their tax returns.

They paid $16,444 in taxes to their home state of Delaware.

Jill Biden, a community college professor, also paid $3,470 in income tax to Virginia, where she teaches.

The Bidens donated $20,523 to charity last year.