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Here is Warren Buffett’s first tax return, filed at age 14


doughishere
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Here is Warren Buffett’s first tax return, filed at age 14

 

http://www.pbs.org/newshour/updates/warren-buffetts-first-tax-return-filed-age-14/

 

I hope he release his tax records after his death...could be an amazing case study.

 

Avg wage in 1944 was $2400 & he was well on his way.

 

Didn't he have some side hustles not reported here?

 

How the heck does a 14yr old earn 1/4 the average working class wage by delivering newspapers, I delivered papers and it was a pittance.

 

 

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It's even more striking that of the taxable income of USD 592, USD 364 was income from the paper routes, and he had interest income and dividends of USD 228.50, meaning 38.6 per cent of his taxable income was income on capital.

 

I have read somewhere recently, that he was actually running the paper routes as a real business, with some of the boys in the nabourhood delivering the papers on the major part of the routes, while taking care of the rest of the routes him self. I think it's in Snowball.

 

The text on the tax return at least partly supports it: "Washington Post paper routes as an independent merchant".

 

So I see it as he was selfemployed in paper routes and at the same time having an investment arm, where he was pouring the cash generated by the paper routes into stocks in the investment arm to get the ball rolling.

 

I'm puzzled by the fact that the tax return is filled by the use a typewriter. Perhaps it was his fathers.

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Guest longinvestor

Interesting are the business expense deductions for the bicycle and the watch repair. He joked once that he did not look at the watch at any time other than during the paper routes. Someone, please look up the street camera footage in the library of congress archives to show what a fraud he was. He owes back taxes. 

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No one has speculated yet on what/where the dividend income was from, is it common knowledge?

 

He shorted ATT (no divs for that.)

 

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"...he ran two paper routes and published a racing tip sheet called ''Stableboy Selections."

 

He might have used a proxy to place bets & then classified his winnings as dividends?

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