After the 1996 trial of United States v. Windsor, the Department of Labor (DOL) corrected the Family and Medical Leave Act (FMLA), which stated financial benefits were given to a spouse of the opposite sex, to include spouses of the same sex. The changes take effect this year and our CPAs are ready to keep our clients informed and financially prosperous.
With the changes, same sex couples are now allowed to gain tax and financial benefits gift splitting and passing along assets to surviving spouses. However, there are a few financial discrepancies that need to be correctly situated. For example, social security and estate planning can be difficult to obtain depending on factors, such as employers, residency and licensing.
Our Same Sex Marriage Financial Planning Services
Due to economic equality issues regarding the LGBT community, DeFreitas & Minsky works hard to provide extensive and well-thought-out same sex marriage financial planning services including, but not limited to:
- Tax Planning and Preparation
- Estate Planning
- Retirement Services
- Consulting
- Trust Services
Same Sex Marriage Financial Planning for the Future
Our bright and innovative CPAs are fighting for the financial future of the LGBT community. Many financial staples still need to be sorted out. For example, elder LGBT individuals and couples have trouble gaining the Social Security benefits they deserve. There are also legislation laws still enacted that negatively affect same sex couples regarding financial rights. For those same sex married couples filing joint taxes are susceptible to falling into higher tax brackets. It is our job to help our clients work around these discrepancies.
Having a certified public accountant for same sex marriage financial planning will give families and couples the financial security they need. For more information regarding our services, please contact us at 516.746.6322 or email us at info@dmaccountingfirm.com.
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