TaxPersonal TaxBush and Cheney release tax returns

Bush and Cheney release tax returns

President and wife Laura report taxable income of $700,000

The US president George Bush and vice-president Dick Cheney have released
their tax returns.

The Bushes reported taxable income of $719,274 (£365,000) for 2007. George
and Laura Bush paid a total of $221,635 in federal income taxes,
WebCPA.com
reported.

The tax return reports a $150,000 book advance received by Mrs. Bush for the
children’s book she wrote with daughter Jenna. The advance was donated to
teaching projects.

It also mentions $165,660 of donations to churches and charitable
organizations.
The vice president’s tax returns show that Dick and Lynn Cheney made taxable
income of $2,528,068 in 2007, and owed taxes of $602,651.

They paid $466,165 through withholding and estimated tax payments, and will
pay the remainder when they file the return.

Further Reading:

Read the WebCPA
story

Related Articles

HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

5m Emma Smith, Managing Editor