Press "Enter" to skip to content

Biden’s Tax Forms Show He and the First Lady Earned $610,702 in 2021

WASHINGTON — President Biden and his wife on Friday reported earning $610,702 in 2021, almost the same amount the couple said they , according to copies of their tax return made public by the White House.

The release of their return — which comes just days before Monday’s deadline for Americans to file their taxes with the I.R.S. — shows that Mr. Biden and the first lady, Jill Biden, paid $150,439 in federal income tax, for an effective rate of 24.6 percent.

Most of the money Mr. Biden and his wife earned came from his $400,000 annual salary for being president and two pensions. He also reported almost $62,000 from an S corporation controlled by the Bidens, which received money in 2021 from two publishing houses, Simon & Schuster and Flatiron Books. An S corporation is a small-business designation that allows business income, credits and deductions to pass through to shareholders.

The president and first lady reported donations of $17,394 to 10 charities, including a $5,000 gift to the Beau Biden Foundation, a nonprofit organization that works to protect children from abuse and is named in honor of the president’s son who .

The couple reported earning $1,655,563 and paying $523,371 in federal income tax, a rate of 31.6 percent. They also paid $120,517 in California income tax and $2,044 in New York income tax, according to the White House. Mr. Emhoff, who is an entertainment lawyer, also paid $54,441 in District of Columbia income tax.

Their tax returns show that the couple earned money from the sale of a California property for $860,000 and from income on the memoir Ms. Harris published in 2019,

The second couple contributed $22,100 to charity in 2021, according to the tax returns.

Be First to Comment

Leave a Reply

Your email address will not be published.