Schwarzenegger Releases Tax Return
by AccountingWeb on
Did you see the "Today Show" on Friday? NBC's Matt Lauer was interviewing California gubernatorial candidate Arnold Schwarzenegger and asked him if he was prepared to release his tax returns as part of a public disclosure. A moment of silence passed, then Schwarzenegger shook his head, tapped his ear and said he couldn't hear the question, ending the interview with Matt Lauer smirking at the supposed technical glitch.
But yesterday, Schwarzenegger's team released his tax returns for 2001, and promised to make the 2002 returns available after they are filed in time for this week's August 15 deadline.
So, for those who are curious, here are the highlights:
- Schwarzenegger earned $26.1 million in 2001 and paid $7.4 million in state and federal taxes
- He donated 16% of his income to charity in 2001, including a Los Angeles area home given to the Archbishop of Los Angeles, valued at over $2 million
- While the bulk of his income comes from his movies, he holds a broad portfolio of investments from movie theaters in California to shopping centers in Ohio to high-tech investments
- Key technology investments include Redpoint Ventures (a venture capital firm), and Cell Guide, an Israeli company that makes software for cell phones.