President Joe Biden and his wife paid $150,439 in federal income taxes for 2021, according to their joint tax return released Friday.
The taxes paid amount to an effective tax rate of 24.6 percent on $610,702 of adjusted gross income.
Most of the Bidens’ income comes from the president’s $400,000 annual salary. But the couple also reported earning nearly $62,000 from book royalties, which were funneled into two closely held businesses known as subchapter S corporations: Giacoppa Corp. and Celticcapri Corp.
