WASHINGTON--President Barack Obama and First Lady Michelle 2012 federal income tax returns showed adjusted gross income of $789,674 on which they paid $162,074 in taxes. They had an effective federal tax rate of 20.5 percent, which Obama has been arguing should be higher for high earners like himself.
The Obamas' also filed an Illinois income tax return and reported paying $31,941 in state income tax.
Once again the Obamas' used the Chicago accounting firm of Wineberg, Solheim, Howell and Shain at 180 N. LaSalle in the Loop; Certified Public Accountant Michael Solheim prepared the return.
The Obamas donated $172,130 to 39 charities; the biggest single donation, $117,130 went to the Fisher House Foundation which helps disabled veterans.
The Illinois charity donations include:
$1,000 Illinois Head Start Association
$1,000 Illinois Reading Council
$1,000 Central Illinois Food Bank
$1,000 Citizens United for Research in Epilepsy
$ 500 Midtown Educational Foundation
Link to 2011 return is below:
Link to my 2010 post about the Obama 2009 income tax returns is HERE.
Link to my 2009 post about the Obama 2008 income tax returns is HERE.
Link to my 2008 post about the Obama 2007 income tax returns is HERE.
Link to my 2007 post about the Obama 2006 income tax returns is HERE.
Link to my post about Obama tax returns 2000-2006 is HERE.