The Obamas Made Nearly $800k in 2011

In 2011, Barack and Michelle combined to make $789,674 in total adjusted gross income. This included:
$394,821 in salary (President of the United States)
$10,694 in taxable interest
$441,369 in business income (book sales)
-$3,000 Capital Loss
$698 in Rental real estate, royalties, partnerships, S corporations, trusts, etc
Add up these numbers and you have the total income for the Obama's in 2011. Deduct $5,911 for "Deductible part of self-employment tax" and $49,000 for "Self-employed SEP, SIMPLE, and qualified plans" and you are left with an adjusted gross income of $789,674.
In total, the Obamas paid $162,074 in total tax to the federal government, which gave them an effective federal income tax rate of 20.5%. The Obamas also paid $31,941 in state income tax (Illinois).
The Obamas donated $172,130 to various charities in 2011. The Fisher House Foundation received the most money from the Obamas last year($117,130).
In terms of Barack Obama's 2011 business income, $269,710 came from Dystel & Goderich and $218,218 came from Random House.
The Obamas made $1.7 million in 2010 and $5.5 million in 2009, thanks to advances and royalty books from Barack Obama's multiple books.
Source: WhiteHouse.gov - President Obama and Vice President Biden's 2011 Tax Returns
Filed under: General Knowledge