(Closed) Taxes and gay marriage.

posted 8 years ago in LGBTQ
Post # 17
Member
2777 posts
Sugar bee

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@the boss of you:  marriage penalty only comes into play at a certain level of income as far as I know. If one spouse is make a lot anis one isn’t, they cut you a break.

 

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@moonadea:  

Post # 18
Member
1340 posts
Bumble bee
  • Wedding: November 2012

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@MrsMayaBee:  We’re not changing our passport yet. Our Post Office told us not to bother since we both have fiveish years left on them. We just book travel in our maiden names.

Post # 19
Member
3315 posts
Sugar bee
  • Wedding: October 2009

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@Mrs Darling:  Although same-sex couples couldn’t get married in Maryland until January 1, 2013, Maryland same-sex couples could get married in other states before then, and their marriage would be recognized by Maryland.  Until DOMA got overturned, they couldn’t file joint Maryland tax returns, because Maryland taxes are based on federal taxes, and the feds wouldn’t recognize the marriage.  However, now that same-sex couples are allowed to file federal taxes as married (retroactively for all years that are within the statute of limitations), they should presumably be allowed to amend their Maryland returns as well.

 

 

 

Post # 20
Member
3051 posts
Sugar bee
  • Wedding: February 2015

I think being able to file married and joint will help us….if I understand correctly. My SO makes more than twice as much as I do currently and will basically always make at least double as we progress in our careers. This year is gonna be a rough one on my SO and part of me wishes we were just married already to help save her like 5k or more! =(

Post # 21
Member
10 posts
Newbee
  • Wedding: March 2014

for taxes purposes being married is a good thing. The standard deductible for a single person is $6000 but for a married couple it is 12,500(will change for the 2013 year though). The IRS does marriage & taxes like this:

 

Person A makes 35,000

Person B makes 60,000

 

They combine that amount and then divide it evenly between the couple. So while Person B by themself would make more as a single person(they’d also be taxed at a higher rate), as a married person they actually make less(47,500) and will be taxed less.

 

But yeah if you make over a certain amount you will be taxed higher. There is also the double catch or what is called the marriage penalty.

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