• Mon, Feb 11 2013

How To Do Your Taxes If You’re A Same Sex Married Couple

url-2It’s been another banner year for gay rights, with Maine, Maryland and Washington saying “I do,” to same-sex marriages. Plus, more same-sex legislation is currently moving through the Rhode Island legislature.

But there’s still a shadow hanging over these celebrations: In the eyes of the federal government, gay Americans are still single.

If you’re gay and married, that means when you pay taxes, you’re considered single. (And that’s only the beginning. When it comes to Social Security survivor benefits and insurance benefits from your federally employed partner, you’re also still single.)

There are two things you should know:

  • This makes your taxes more complicated, and hence might require you to hire an accountant and/or pay more in fees for them to wade through the situation.
  • According to an analysis by H&R Block, same-sex couples pay as much as $6,000 more in taxes than heterosexual couples.

That certainly shouldn’t stop you from getting married. But you probably have questions about what else you need to know if you’re a Mrs. and Mrs. or Mr. and Mr. during tax time. We’ll walk you through how to do your taxes right.

To finish reading this post, head on over to LearnVest.
To finish reading this post, head on over to LearnVest.

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