The president needs a better financial plan - for himself. Some clues to Barack and Michelle Obama's finances can be found in their 2012 tax return and 2011 financial disclosure report (filed in 2012). The documents suggest any average CFP could save the Obamas money.
The first couple earned $662,076 last year. Subtracting their deductions and exemptions, their taxable income was $335,026. After being hit with the AMT, which is partially offset by a foreign tax credit, the Obamas paid $112,214 in federal taxes - about 18.4% of their adjusted gross income.
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