Warren Buffett's $7 Tax Bill as a Teenage Paperboy

The billionaire's first tax return showed he owed just $7 to the IRS in 1944 when he was 14 years old.

Apr. 14, 2026 at 2:22pm

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A photorealistic studio still life featuring a vintage 1940s tax form, a worn leather wallet, and a handful of coins, symbolizing the early financial journey of Warren Buffett from a teenage paperboy to a billionaire investor.A photographic still life captures the humble origins of Warren Buffett's financial empire, from his $7 tax bill as a teenage paperboy to his current status as a billionaire philanthropist.Omaha Today

Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, filed his very first tax return in 1944 at the age of 14. That year, he earned $592.50 from his paper route and investments, and owed just $7 in federal taxes. This is a far cry from the $26.8 billion Buffett's company paid in taxes in 2024, the highest-ever payment made to the U.S. government at the time.

Why it matters

Buffett's first tax return provides a fascinating glimpse into the early life and financial acumen of one of the world's wealthiest individuals. It highlights his lifelong entrepreneurial spirit, as well as his evolving views on taxation - from dutifully paying his modest $7 bill as a teenager to later becoming a vocal advocate for the wealthy paying higher taxes.

The details

In 1944, the 14-year-old Buffett earned $364 from delivering newspapers in Washington, D.C. and another $228 in interest and dividends from his investments, bringing his total income that year to $592.50. Under IRS rules at the time, any U.S. citizen who earned $500 or more was required to file a federal tax return, which Buffett did, paying just $7 in taxes. He made sure to write off his business expenses, including $10 for watch repair and $35 for bicycle costs.

  • Buffett filed his first tax return in 1944 at the age of 14.
  • In 2024, Buffett's company Berkshire Hathaway paid a record $26.8 billion in taxes to the U.S. government.

The players

Warren Buffett

The legendary investor and CEO of Berkshire Hathaway, who is worth $143 billion today and was once the richest man in the world.

Howard Buffett

Warren Buffett's father, who was a stockbroker and eventual four-term U.S. Congressman, and served as an early influence on Warren's fascination with business and markets.

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What they’re saying

“'I have paid federal income tax every year since 1944. Though, being a slow starter, I owed only $7 in tax that year.'”

— Warren Buffett

“'Debbie works just as hard as I do and she pays twice the rate I pay. I think that's outrageous.'”

— Warren Buffett

What’s next

Buffett's evolving views on taxation and his advocacy for the wealthy paying higher taxes continue to be a topic of discussion, particularly as the U.S. government grapples with fiscal policy and the growing national debt.

The takeaway

Warren Buffett's first tax return as a teenage paperboy earning just $592.50 highlights his lifelong entrepreneurial spirit and financial acumen, as well as the stark contrast between his modest beginnings and his current status as one of the wealthiest individuals in the world. His evolving views on taxation have also made him a prominent voice in the ongoing debate over tax policy and the role of the wealthy in funding government.