Yes, even presidents have to pay and file tax returns. President Obama and first lady Michelle Obama filed joint 2010 tax returns and reported an adjusted gross income of $1,728,096. Most of the income came from the president’s books, with his most recent one being a children’s book titled “Of Thee I Sing.”
The White House released details of their returns Monday afternoon, which is an adjusted tax day due to a D.C. holiday.
So just how much did they have to pay in federal taxes? The grand total is $453,770. They also paid $51,568 to Illinois in state taxes.
Their refund totaled $12,334.
The first couple gave $245,075 to charity to 36 different charities including $131,075 to the Fisher House Foundation, which created a scholarship fund for kids of fallen and disabled soldiers. Their charitable contributions are about 14 percent of their income.Continue reading on politics.blogs.foxnews.com