Gay friendly tax preparation near me

Ah, the joys of marriage equality. Oh, and did I mention the cherry on top? If you found yourself in that perplexed percentage and mistakenly filed as single, head of household, or married filing separately, fear not! Understanding the nuances is critical before filing your taxes.

Department of Education. Our network directory, created for the LGBTQ community to connect with LGBTQ-supportive professional advisors, plays a critical role in supporting clients like you and help us create a world where all LGBTQ people can live freely and fully.

If so, how? The perks of joint filing as a same-sex duo are like hitting the tax jackpot: more generous tax brackets, a standard deduction double the fun, and a smoother ride through the financial rollercoaster of tax brackets.

Listen up because this is crucial info! You might enjoy a sweet marriage bonus — consider it a little tax gift from the heavens. You might have missed some sweet tax breaks, but fret not — you can still amend that return and snag that cashback.

The upside?

LGBTQ Tax Return Preparation

You might snag a lower tax rate, all while holding hands through the tax maze. A spouse with a lower income might even score some sweet spousal IRA contributions courtesy of a higher-earning partner. How does married filing jointly affect student loan payments on an income-based repayment schedule this can cause the repayment amount required to increase?

Christina Taylor, the Senior Manager of Tax Operations at Credit Karma, the financial fairy godmother for 75 million members, is here to enlighten us.

Tax Services for the

Filing jointly can be a financial magic trick if one partner brings the bacon home in more giant slices than the other. Now, for all you middle-income lovebirds out there, fear not! So, no matter where life takes you, the IRS has your back when honoring your marriage.

The tax applies only to net investment income, not earned income. Since July 1st,as noted by the Tax Foundation, 15 states have applied a marriage penalty as their income tax brackets for married couples filing jointly are not two times that of the single filer brackets:.

I remained closeted for fear of being passed over for a promotion, for fear of being. Why the “GAY” CPA®? The net investment income tax NIIT of 3. Sorry, no dice. The earned income tax credit EITC may decrease or be non-existent due to marriage increasing the household income of low-earning couples.

Smooth sailing ahead. Find a LGBTQ Owned CPA firm today! When I was making my way up the ladder in the Big 4 accounting firms, there were no LGBTQ communities. Read client reviews & compare industry experience of leading accounting services. When recognizing marriages, the IRS takes cues from state and foreign laws.

A key part of Horizons’ mission is to strengthen a culture of giving within the LGBTQ community. I offer a wide range of professional tax services to individuals and small businesses. At The Gay CPA® I am committed to providing close, personal attention to all of our clients.

When are individuals of the same sex lawfully married for federal tax purposes? Did you know married couples filing jointly could unlock some profound tax treasures?