WASHINGTON — President Barack Obama and his wife, Michelle, paid more than $93,000 in federal taxes last year on an adjusted gross income of more than $477,000, according to tax returns released Friday by the White House.
Their effective tax rate was 19.6 percent, the returns show.
The Obamas lowered their 2014 tax bill by claiming nearly $160,000 in itemized deductions, including $70,712 in charitable donations to 33 different charities. Altogether, they donated nearly 15 percent of their income.