http://media.mcclatchydc.com/smedia/2009/04/15/17/Talev-2009-Obama-1040.source.prod_affiliate.91.pdf qC
F5~ ;7 ][}0#'/mV President Obama and his wife released their tax returns on Wednesday, the deadline for Americans to submit their tax returns to the Internal Revenue Service or to ask for an extension.
^B8b%'\ X7k.zlH7T Here are some facts about the Obamas’ tax return and payments:
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Va &" --They paid about a third of their total income (before adjustments) in federal taxes -- $855,323 on $2.66 million in adjusted gross income.
`al<(FwGE U 9b?i$ --They are due a refund of $26,014 but applied it to the 2009 estimated taxes, so the Treasury is keeping it -- basically, it’s a tax-free loan to Uncle Sam.
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w --They used professional accountants to prepare their return, Wineberg Solheim Howell & Shain, CPAs in Chicago. Around 60% of Americans use a professional to prepare their returns.
PkI :*\ R &0f5:M{P --They appear to be diversified investors, with interest income of $18,890 and dividends of $26,558. Stock holdings weren’t specified.
MS f; ZB %p%%~ewmx --They are about twice as charitable as the average taxpayer. Their donations of $172,050 to 37 charities at 6.5% of their adjusted gross income is about double the percentage rate of giving for the average taxpayer who itemizes deductions, 3.3% (according to IRS statistics from 2006).
{G?N E N F)~W# --The Obamas still had a mortgage on their home in Chicago as of last year. They paid $54,323 in home mortgage interest.
g}@OUG"D Zd"^</ S --They have bank and investment accounts at two banks that received funds from the government’s Troubled Asset Relief Program, or TARP: JPMorganChase (JPM: 33.54, 0.26, 0.78%) and Northern Trust (NTRS: 63.37, -0.39, -0.61%).
>EY3/Go> boDt`2= --The First Lady’s salary from the University of Chicago Hospitals was $62,709.
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K|5bK --They socked away $46,000, the maximum contribution allowed in a Keogh personal retirement plan.
MEB it Sa2>`":d --They had at least one household employee in Illinois to whom they paid $12,480. They paid the employee’s payroll taxes of $1,910.
<b,~:9*? vWAL^?HUP --They had a small net capital gain -- $1,107 -- from sale of $500,000 in Treasury securities -- $5,342 gain, but largely offset mainly by some prior losses of $4,136.
/SYw; <= [eTSZjIN7 text from
http://www.foxbusiness.com/story/rundown-obamas-tax-return/
