Since 2013, federal tax laws for married couples have applied to same-sex couples who were married in jurisdictions where same-sex marriage is legal, even if the couple lives in a jurisdiction that doesn’t recognize same-sex marriage. As of press time, same-sex marriage is legal in 36 states and the District of Columbia, including Pennsylvania. The Pennsylvania Institute of Certified Public Accountants addresses some of the tax-planning issues facing couples affected by these legal changes and offers timely advice.
Make the most of deductions
This is good advice generally, but it takes on new importance for some legally married same-sex couples. This is because, like any married couple, they may face the “marriage penalty” that will hike their tax bill if both spouses earn about the same amount. If one spouse makes significantly more than the other, however, their joint tax bill may decline slightly after marriage. Couples who were married before the U.S. Supreme Court struck down the Defense of Marriage Act in 2013 may also want to consider amending eligible earlier returns if they are due a refund for those years. A CPA can help you understand your situation and make a plan with you to minimize your tax bill.
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