Buffett's meticulously typed 1944 tax return shows he made good money from his own labor even when he was age-14. My guess is very few taxpayers, even adults, typed their tax documents.
"The returns show that Buffett was raking in $592.50 in annual income, and declaring $228 in interest and dividend income. Overall, he was paying $7 dollars in taxes. Today, that means 14-year-old Buffett was making $8,221.18 in income, and his investments in today's dollars would be worth $3,163.59, according to Quartz."
"The young Buffett was writing off all of his business-related expenses, including $10 for a watch repair and $35 of “Bicycle - Misc.”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.