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Tax Implications

Tax Implications of Same-Sex Divorces in NY

Get Tax Guidance from Lawyers for LGBT Divorces

Same-sex couples face a complex proposition when it comes to taxes, as the state tax system takes their marriage into account but the federal system does not. It is important to obtain comprehensive legal advice to plan the approach to your taxes to be most beneficial to you and to avoid the pitfalls that can be suffered due to lack of planning. This applies to matters ranging from income tax to sales tax to estate planning and estate taxes. All same-sex couples in New York need this skilled guidance, as the same rights and obligations apply whether or not they were married in this state or in another state that recognizes gay marriage.

Our founding Long Island same-sex family lawyer, Sari M. Friedman, can provide advice based on your individual circumstances. Your income bracket, assets, income sources and more will have a great effect on how you should best approach withholding, your returns and the many financial transactions that relate to your taxes. Individuals with same-sex spouses are taxed on the value of their partner's health benefits due to the marriage not being recognized on a federal level. Inheritances between same-sex martial partners can also cause significant tax problems. These are just some examples of the issues that must be skillfully addressed in order to protect your finances and financial future.

Call Friedman & Friedman PLLC at (516) 688-0088

Having the right legal instruments in place is invaluable both financially and for the peace of mind it offers regarding your security and that of your children. Don't let yourself be robbed of money that is rightfully yours – let the legal team at Friedman & Friedman PLLC, Attorneys at Law help you and your family obtain the protection you deserve.

Contact a same-sex family law attorney for help planning the approach to taxes that will best protect your interests.

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