Google Doc Spreadsheet of Joe Biden’s 1040 Data from 1998 to 2020.
YouTube Video Transcript
From 1998 to 2020 Joe Biden has released his income tax returns each and every year. Let’s go take a look at them. Here we go.
Hey and welcome to the channel my name is Duggin and I love talking about anything money related because I’m a Certified Public Accountant. And one of the things that you do as a Certified Public Accountant is look at people’s tax returns but most people don’t want you to look at their tax returns or show it to other people but when you are the President of the United States you freely show your tax returns to the public and that’s what we’re going to do today with Joe Biden.
So from 1998 to 2007 Joe Biden was a U.S. Senator and his wife is a teacher. And that is what you will see as the occupation on the 1040 return. From 2008 to 2017 he becomes the Vice President and she remains a teacher. In 2018 and 2019 he is just an Executive. That is his time in between being Vice President and President. Then in 2020 he is President and she is first lady.
His name on the 1040 is Joseph R. Biden. Hers is Jill T. Biden and they are married filing jointly. And they each year have done the three dollar Presidential Election Campaign. From 1998 to 2003 they had a dependent of their daughter Ashley Biden.
On a 1040 it’s going to include in their wages his and her income and so their wages are going to be combined total. It isn’t until 2002 until we receive a wages statement that breaks up their income between his and hers. So on your 1040 there’s a difference between your wages and what you’re reporting as what you’re making versus what’s also your AGI your Adjusted Gross Income. So the AGI versus the wages kind of gives you more of a full picture before you start taking into account taxes and how much they owe.
So let’s break this up between the different years and let’s go by wages first and then we can go into different incomes that they had. So in 1998 they had a combined wages of 201 thousand dollars. So let’s jump forward each year 1999 206 thousand dollars. Year two thousand two hundred and sixteen thousand. Two thousand one two hundred and twenty thousand dollars. Two thousand two is two hundred and twenty seven thousand dollars and that is where we have our first breakout and that way you can see how much he’s making as a U.S. Senator. So their wages breakout is State of Delaware is 58,000. Widener University is 21,000 and the U.S. State Senate is 147,000.
Their incomes kind of gradually go up over the years. The next difference is when he becomes a Vice President and 2008 is his first year to actually file for that and he gets paid by the U.S. State Senate still. So that’s who shows up as the employer and he made 165,000 his first year as Vice President and that year they had a total wages of 253,866 dollars.
Jumping ahead to 2016 that was his last full year as Vice President and he made 224 thousand six hundred and eighty six dollars. Their combined wages that year was three hundred and fifteen thousand two hundred and six.
So in 2017 is one of their bigger years where they make more from their AGI than they do on their wages because there’s a lot of income coming in on their Schedule E and so we’ll get into that in a second but continuing on with their wages. In 2017 they have 720,000 in 2018 they have 1 million, just over 1 million, and then 2019 it drops back down to 517,000 and then 2020 212,000. So over the years from 1998 to 2016 their income gradually increases from the low 200s to the low 400s and it’s in 2017 when he leaves the Vice Presidency that they actually have a lot of their income coming in from their speaking engagements and their book income. He had a book deal and the majority of that is 10 million dollars. In 2017 it brings up their AGI to 11 million. So it goes from the low 400s to 11 million in one year and then in 2018 it drops down it goes to about 4.5 million then in 2019 it drops a lot more they’re at 985,000 and then 2020 607,000.
So from 1998 to 2016 their standard deduction or itemized deductions range from anywhere from 48,000 to 69,000 with an average of about 57,000. It’s not until 2017 that their itemized deductions jumped to 1.4 million. In 2018 it drops a lot to 314,000 in 2019 40,000 fifty six thousand. So looking at their itemized deductions you might think well what was it that happened in 2017 that was so significant. Well, the majority of that is coming from a million dollar over a million dollars in gifts that they did and you might think well they are super generous.
Well, over the years I tracked how much they gave in gifts and the percentage that it is of their AGI. As a percentage of their AGI in 2017, yes, that was very significant. It was 9.19 percent. If you look at what they gave over the rest of the years it’s not quite as impressive. I would say maybe they didn’t track all the gifts that they made during those years but I would say that that’s not correct. They would make any type of gifts to charity as an itemized deduction over the years and so we can look back and back in 1998 their percentage of giving of their AGI is point zero nine percent. Nineteen ninety nine point zero six percent and as the years keep going by point one six, point one six, point one one, point one one, point one six, point one two, point one five, point three one, point seven zero. Oh, it’s going up. In 2009 it is 1.45 and then it keeps going. 1.41, 1.46, 1.87, they had a big jump in 2013. It says 15,300 was given to the USO United Service Organizations. 2014 these were years when he’s Vice President as well 1.9 percent, 1.76, 1.49 and so it isn’t until they actually receive a lot of money that they actually gave a big portion of that. And there’s a breakout as well as you if you want to see what that one million dollars went to and which charities received it. Continuing 2018 6.02 percent and then it drops back down 2019 1.49 percent and then 2020 5.06.
So now that we’ve reviewed the income we can take a look at the taxes that they actually paid. So from 1998 to 2016 again the range of taxes that they paid goes from 35,000 all the way up to 93,000. It isn’t until 2017 when they had that major spike in income that their taxes went up significantly. So it went to 3.7 million dollars in taxes that they owed and so when they filed their return that year they actually owed 3.5. So they had paid in 191,000 already and owed a check to the government of 3.5 million. The years after that 2018 they owed 1.5 in tax and then it dropped significantly in 2019 they owed 299,000 and then 2020 157,000.
So to get a sum of how much they’ve made and paid in taxes over all these years from 1998 to 2020 we have 7.4 million in wages. We have 13.7 million in Schedule E income which includes their speaking engagements and their book deals. Their total AGI for all those years is 22.9 million dollars. Their total tax is 6.9 million dollars and their gifts to charity is 1.4 million dollars which is a giving percentage of AGI of 6.11.
I appreciate you watching this video on this quick recap of his income from 1998 to 2020 and going forward I would like to take more time to delve into each one of these and so I’ll be going through year by year and uploading a separate video for each one of those so you can see in detail more of what is happening and you can look through the actual forms with me.
So if you want to see all the data coming out of their tax returns you can download the spreadsheet for free from my website at DugginMoney.com.
If you found this video entertaining at all please hit that thumbs up and subscribe button as well and I will see you next time.
YouTube Description
How much does Joe Biden Make as President of the United States? Vice President? United States Senator?
Let’s take a look at Joe Biden’s 1040 tax returns from 1998 to 2020.
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Find the Joe Biden 1040 Data Google Doc at my website https://bit.ly/DugginMoney This spreadsheet has all of the detail from 1998 to 2020 that I cover in this video.
I plan to release more videos going through each year of Joe Biden’s 1040 Tax Returns so be sure to subscribe if you like this type of detail.
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As always, thanks for watching.
