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Same-sex couples get the financial benefits of marriage


Same-sex couples get the financial benefits of marriage
Monday October 21, 2013, 7:11 PM
The Record

Now that same-sex couples can legally marry in New Jersey, major financial benefits open up to them, North Jersey experts said Monday.

“It will absolutely change tax planning and financial planning for same-sex couples,” said Ted Carnevale, a certified public accountant in Oradell.

With the Christie administration’s decision Monday to stop trying to block same-sex marriage, gay couples in New Jersey can now file their income tax returns jointly, which can often mean a lower tax bill. In addition, they can leave an unlimited amount of money to their spouses when they die.

Two Montclair women who were married Monday, Meredith Greenberg and Leora Perlman, said they were still unsure of all the financial implications. The two were married on the Jersey City waterfront by Mayor Steven Fulop, surrounded by family, friends and their three young sons.

“We’ve been trying to figure out how to be two women raising three children with a house and two cars and how to deal with tax returns for many years,” said Greenberg. “I think our tax attorney has a lot of work to do.”

The Internal Revenue Service announced in late August that “same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes” – even if they move to a state that does not recognize same-sex marriage. The announcement followed the June 26 Supreme Court decision tossing out the Defense of Marriage Act.

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6 thoughts on “Same-sex couples get the financial benefits of marriage

  1. The whole thing is a bad movie with violins. It does not make sense & as Spock said “It is not logical” . This barrage of press led by the oh so opinionated (subtle as a sledgehammer) Record & it’s not so bright editorial page editor has created the new norm out of thin air granted with the help of the from the heavens decisions of the courts. Never thought I’d see the day where sorcery is actually real. The word “gay” had a great connotation in the roaring 20’s & the word “marriage” likewise. Both have been hijacked from the vocabulary but the rainbow coalition is in reality only a horse of a different color.

  2. Civil rights.

  3. Ah, yes the 1920s when there were still separate drinking fountains and Asians, Jews, Blacks and Italians couldn’t buy homes in Ridgewood. Those wonderful times.

    Times change and that the march of freedom continues as it has from ancient times to today. The logic of Freedom always confounds some before it takes root and becomes so logical we cannot imagine the earlier thought process.

  4. Same sex marriage should not be on the political party platform. All it does is help democrats who simply appeal to any ‘single issue voter’. It shouldnt matter to anyone except the 2 people involved. Adam and Eve, Adam and Steve, I could care less. I just don’t want to watch.

  5. Those 2 chicks in the picture are hot…what a shame.

  6. I hope ignorance is bliss, because it’s depressing to watch.

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