United States President Barack Obama and his wife Michelle paid 93,362 dollars in taxes for the year 2014 on revenue of more than $477,000, according to the White House. Its effective tax rate was 19.6%, shows the document published Friday.
The Obama family reduced contributions to fiscal 2014 to claim nearly 160,000 dollars in itemized deductions, including 70,712 dollars in donations from charity to 33 different charities. In total, they donated about 15% of their income.
The largest donation was $22,012 at the Fisher House Foundation, which provides support to families of military personnel. Also donated $5,000 to the Sidwell Friends School, the exclusive private school where studied their daughters Malia and Sasha.
The 38-page document, which includes the statement of taxes on the income of the couple in the State of Illinois, shows that the President perceived approximately 395,000 dollars in wages.
The couple reported having also won 94,889 dollars in income for the high sales of Obama books. That represents a decline of more than 116,000 dollars obtained the previous year.
Obama received $51,167 from Publisher Random House and 43,722 dollars from Dystel & Goderich Literary Management.
The presidential family will get a refund of taxes of $20,641. They could have received 5,000 dollars more but they opted to apply that figure to their fiscal contributions of 2015.
The couple reported a payment of 22,640 dollars in State income taxes.
The White House also reported the taxes paid by the Vice-President, Joe Biden, and his wife, Jill, who won in 2014 about 389,000 dollars gross, and 90,000 in federal taxes paid.
Biden and his wife donated $7,380 to charities.
The White House released this information on Friday, five days before the expiration of the term in the United States so that taxpayers submit his statement.