President Obama and Michelle Obama Pay 20 Percent Tax Rate
In 2013, the President and the First Lady filed their income tax return jointly reporting an adjusted gross income of $481,098, according to a White House tax return disclosure. It appears that President Obama has his finances in order; the couple paid $98,169 in taxes at a rate just over 20 percent, and donated $59,251 (12.3 percent of their income) to 32 different charities. The Obamas also shared their state income tax return, which revealed that $23,328 of their tax bill went to the state of Illinois.