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Wages of an employee working for one's spouse are exempt from federal unemployment tax [5] Joint and family-related rights: Joint filing of bankruptcy permitted; Joint parenting rights, such as access to children's school records; Family visitation rights for the spouse and non-biological children, such as to visit a spouse in a hospital or prison
There are many potential tax benefits that come with marriage, including the potential for a higher-earning spouse to fall into a lower tax bracket, the ability to exempt profits from the sale of ...
Continue reading → The post What Are the Tax Benefits of Marriage? appeared first on SmartAsset Blog. ... However, married couples can take advantage of a slew of tax benefits, especially when ...
Marriage is what brings us together, but along with the matrimonial duties come legal and financial responsibilities. That includes taxes, and more specifically, a potential for a marriage tax ...
For example, if an employee covers his or her partner under an employer health insurance plan, the estimated amount the employer pays to cover the partner will be added to the employee's salary for tax purposes, unless the employee's partner is a qualifying dependent under Section 152. The same is not true for married couples. [5]
Normally, employer-provided benefits are tax-deductible to the employer and non-taxable to the employee. The exception to the general rule includes certain executive benefits (e.g. golden handshake and golden parachute plans) or those that exceed federal or state tax-exemption standards.
To file taxes jointly, you generally must be married. However, some states recognize so-called "common law marriages,"and allow couples to file their taxes together. Check Out: A Look at Tax Filing...
Because the federal Employee Retirement Income Security Act (ERISA) controls most employee benefits provided by private employers, DOMA removed some tax breaks for employers and employees in the private sector when it comes to health care, pension, and disability benefits to same-sex spouses on an equal footing with opposite-sex spouses. ERISA ...