Same-sex, bisexual and transgender couples — and individuals — often face significant financial hurdles compared to their heterosexual counterparts. According to Chris Kollaja, a certified public accountant and partner at A.L. Nella & Company in San Francisco, LGBT couples often incur higher costs for everything from income taxes to employee benefits to adoptions because of prevailing laws and tax regulations.
In states where gay marriage is not legal, same-sex couples must file separate income tax returns, as with unmarried heterosexual couples. Where it is legal, if they want to file a joint state return they must each file an individual federal return and then complete a "mock" joint federal return and use that data to calculate their joint state return.
You must login to view the full content on this page.
Or, use your linked account: