Individual Retirement Accounts (IRAs) are powerful tools for funding your future. Putting money into an IRA can be a great way to save for your retirement because it provides tax benefits in the present. Unlike some retirement plans, IRAs can be set up by anyone; they do not have to be set up by your employer. OneContinue reading “How Marriage Equality Affects your Retirement: IRA Tax Loopholes Available to Opposite-Sex Married Couples Only”
Author Archives: Fakey Fake
Loss of Head of Household Status for Registered Domestic Partners in Washington and Nevada and Same-Sex Married Couples in California
As taxpayers we are always looking for ways to keep more of our money. If you are unmarried, one of the easiest ways to save on taxes is to file as Head of Household (HOH) instead of Single. The HOH filing status has both lower tax rates and a larger standard deduction. Together, these advantages can haveContinue reading “Loss of Head of Household Status for Registered Domestic Partners in Washington and Nevada and Same-Sex Married Couples in California”
Will the Supreme Court Kill DOMA in 2013?
Court cases challenging DOMA are popping up across the nation with increasing frequency. Over the last two years, the legislative momentum has grown dramatically. We are now at a point where we can expect at least one of these cases to be heard by the Supreme Court. The implications of the Supreme Court hearing such aContinue reading “Will the Supreme Court Kill DOMA in 2013?”
The Adoption Tax Credit – One Good Thing the Defense of Marriage Act did for Registered Domestic Partners
Despite the adverse effect that the Defense of Marriage Act has on millions of LGBT people, there is one instance in which it helps. That instance is the availability of the Adoption Tax Credit to those who adopt their partner’s children. This of course only applies to those living in states that allow second-parent adoptions;Continue reading “The Adoption Tax Credit – One Good Thing the Defense of Marriage Act did for Registered Domestic Partners”
Social Security Issues for Registered Domestic Partners in Washington State
The absence of federal marriage equality has a powerful impact on your social security. I briefly touched on this in a previous post, Washington to Legalize Same-Sex Marriage?. What I discussed there was in the context of survivor benefits which is unfortunately only one of the social security issues that “unmarried” couples face. Let’s startContinue reading “Social Security Issues for Registered Domestic Partners in Washington State”
Washington to Legalize Same-Sex Marriage?
The State of Washington may be on its way to becoming the seventh state, in addition to Washington D.C, to legalize same-sex marriage. In 2007 Washington legalized domestic partnerships, then, in 2009 it expanded the rights of registered domestic partners to include “everything but marriage” as the passing bill became known. Now, in 2012, GovernorContinue reading “Washington to Legalize Same-Sex Marriage?”
It’s Tax Time: What You Need to Know if You are a Registered Domestic Partner in Washington State
In 2010, the IRS made drastic changes to the filing requirements for Registered Domestic Partners (RDPs) in Washington State. Didn’t know about these changes? You are not alone. It was a scramble for many in 2011. Some learned of the changes just before the filing deadline, while others remained unaware until after they had filedContinue reading “It’s Tax Time: What You Need to Know if You are a Registered Domestic Partner in Washington State”