By: N'dia Knight and Rosalind Sutch, CPA, MT
Shockingly, many of the eldest of those who fall into Generation Z are ready to start planning for marriage and building families. In today’s post we will discuss how marriage impacts tax filings status and tax liabilities for newlyweds.
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June 26th is an important day in LGBTQ history. On this day, two landmark civil rights Supreme Court cases were decided. It’s been six years since U.S. v. Windsor and four years since Obergefell v. Hodges. Windsor struck down the Defense of Marriage Act (DOMA) and mandated the federal government to recognize the marriages of same-sex couples. Obergefell confirmed the fundamental right to marry is guaranteed to same-sex couples under the constitution and effectively mandated states to both recognize and allow same-sex marriages. A new bill seeks to correct a lingering tax issue for these couples.
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When I was growing up in the 70s, there was a Sunday morning children’s program called “Wonderama.” Its closing theme song was “Kids are People, Too.” I’m proud to work for a firm that views and treats members of the LGBTQ community the same way…as people, like everyone else.
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