Warren Buffett has called himself mega-rich, but now he's revealing how much money he made last year: $62,855,038.
The billionaire investor disclosed the figure in a letter he wrote Tuesday to Republican Rep. Tim Huelskamp of Kansas that was obtained by The Associated Press. Buffett and Huelskamp have been sparring over Buffett's call for higher taxes on the wealthy.
In a New York Times opinion piece this summer, Buffett had revealed that he paid $6,938,744 in federal taxes last year, or 17.4% of his taxable income. He has said that rate is too low.
Buffett's letter to Huelskamp specified that his adjusted gross income ? which excludes some types of income and expenses ? was $62,855,038. His taxable income ? which subtracts exemptions and itemized deductions ? was $39,814,784.

interesting

my tax rate the last year I worked full time was 22 percent...

I’m getting tired of hearing our president state that Warren Buffett pays fewer taxes than his secretary.
The fact is that his personal income tax rate is lower than that of his secretary because she is paid a salary, while he – being the owner of Berkshire Hathaway – has opted not to take asalary but to receive his compensation in the form of dividends.
By law, dividends are taxed at the rate of 15 percent, while salaries can be taxed at a muchhigher rate, dependingon her total income. SoI’m sure that although his tax rate is lower than hers, the actual amount of taxes he pays is significantly higher.
But more important than that, as the majority stockholder of Berkshire Hathaway,his income is really that earned by Berkshire Hathaway, which pays corporate taxes. The more tax that the corporation pays, the less income Mr. Buffett earns. So, because of his structuring his holdingcompany as a corporation, the tax onits income is paid by the corporation.
If BH were not incorporated, that tax would have to be paid by Mr. Buffett himself. Therefore, if we want to talk about the amount of Mr. Buffett’s taxes, we have to add the corporate tax paid by BH to Mr. Buffett’s personal tax.
Lastly, by opting to take his compensation as dividends rather than as salary, Mr. Buffett is avoiding completely any Social Security and Medicare taxes paid by all employees and self-employed on their earnings.

I want to join

seriously,,

I wish I was taught all this stuff in high school instead of american history, would have done me much more good

my mom is a retired accountant and she shares so many things with me,, like 501 c 4s....great way to hide money and keep it from being touched,,,


for those in the network and with the know about money, tax loops, etc,,,,,, life must be nice

Let him turn that over to the Treasury,if he is so Hellbent to pay Taxes!
That Dork is getting senile,or he's an appeaser feeding others to the Crocodile in hopes it would eat him last!