As a gay fancial planner who works wh many same-sex upl across the Uned Stat, I n say om experience that many people have no ia how to pay ls tax. Here are the 8 mov gay upl wh big need to make right now.
Contents:
- THE END OF THE GAY TAX
- 8 TAX-SAVG MOV FOR HIGH-EARNG GAY COUPL
- 4 VALUABLE TAX PLANNG STRATEGI GAY COUPL NEED TODAY
THE END OF THE GAY TAX
Marriage equaly may be old news, but the stggl wh filg gay tax as a same-sex uple isn't. Get advice on how to file better and get more back. * gay tax *
Can Gay Coupl File Jot Tax? Do the IRS Regnize Gay Marriage? (Massachetts beme the first state to legalize the unns, 2003, after s Supreme Judicial Court led that the state nstutn giv gay and lbian upl the right to marry, acrdg to Pew; weddgs began 2004.
)Gay and lbian upl who legally wed before 2010 would be able to file an amend tax return if Congrs pass the Build Back Better Act wh the provisn is a fair thg to Warnoffdirector of feral tax policy at the Instute on Taxatn and Enomic Policy"This is a fair thg to do, " said Steve Wamhoff, director of feral tax policy at the Instute on Taxatn and Enomic Policy. WASHINGTON – A ltle-noticed provisn Print Joe Bin’s plan to expand the natn’s social safety uld mean a tax break for some same-sex upl who were legally married unr state law prr to 2010 – before the feral ernment regnized gay unns – uld amend their tax returns and file claims for feral tax benefs unr the latt versn of Bin’s Build Back Better benefs for those years have been nied to those upl unr existg feral law. Advot argue the change would rrect an jtice by givg gays and lbians the same tax benefs that are afford to married heterosexual upl.
8 TAX-SAVG MOV FOR HIGH-EARNG GAY COUPL
Make The Gay CPA® part of your tax fay. Tax are personal. The Gay CPA® tak pri givg back to the LGBTQ muny * gay tax *
Gay rabow flag at gay pri para wh blurred participants the backgroundgetty.
GLAD, gay and lbian advot and fenrs, had a se the pipele much longer than Wdsor, where they had six or seven platiffs makg var feral claims and plag specifilly that DOMA, the Defense of Marriage Act passed 1996, was unnstutnal and should not be applied to the married same-sex upl. Here are the top tax ems newly-married, or newly-regnized, gay upl need to know.
4 VALUABLE TAX PLANNG STRATEGI GAY COUPL NEED TODAY
* gay tax *
Below, I've pulled out a few exampl, jt to provi a small, quantified taste of how the feral ernment has been fancially discrimatg agast married gays and lbians the last several Tax Filg: Worth $2, 325 Per YearYou often hear about the "marriage penalty" the U.
But many upl -- ually those where one spoe earns signifintly more than the other -- end up savg sh by filg jotly, an opportuny that until now has been nied to gays and lbians. " She found that Massachetts, 66 percent of gay and lbian upl would have saved an average of $2, 325 on their IRS bill if allowed to file jotly. Social Secury Survivor Benefs: Worth $5, 528 Per YearGays and lbians pay to Social Secury jt like the rt of , but until now, they haven't enjoyed the same payoff.
Aga, none of this has applied to gays and lbians.
Tax planng is importand for high e LGBT upl. The marriage penalty n h gay and lbian upl particularly hard, rultg high tax bills. * gay tax *
Sce gay and lbian upl weren't technilly married the ernment's ey, the Williams Instute's Badgett timated 2007 that "the average person receivg benefs for a domtic partner or same-sex spoe [was] taxed $1, 069 addnal feral e and payroll tax.
Gay tax don’t have to be difficult. Maybe ’s time to figure out your gay tax.
THE GAY CPA®The Gay CPA® is a boutique CPA firm terg to the LGBTQ muny providg tax prep and planng for dividuals and medium- to small-sized bs.