Money After Gay Marriage

So if you are gay and married in a state that allows gay marriage, the federal government will recognize your benefits.

— Heidi N. Moore (@moorehn) June 26, 2013

The Supreme Court ruled today that married gays and lesbians are entitled to federal benefits, but didn’t say whether or not there is a constitutional right to marriage. This means that gay couples who are married in the 13 states that have legalized gay marriage (and D.C.) are entitled to equal treatment when it comes to things like income and estate taxes, Social Security, and inheritances (see: Edith Windsor).

Nerd Wallet has a very good rundown of some of the financial implications for gay couples now that DOMA has been struck down. Gay couples who file jointly and earn more than $146,400, for example, may see their tax bills go up due to marginal tax rates.

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