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Financial Planning > Tax Planning

Gay marriage rights may carry bigger U.S. tax burden for some

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With so much public discussion over the Supreme Court hearings last week over challenges to the Defense of Marriage Act and California’s Proposition 8, gay rights advocates are cheering the possibility of the overturn of these laws, which specifically make a point of making gay marriage unrecognizable in the eyes of the law. But if DOMA and Prop 8 are history, it still doesn’t erase the fact that for a lot of homosexual couples, significant tax challenges could lie ahead. Bottom line: whether you agree with gay marriage or not, gay couples have some pretty significant financial planning needs, and they are a big business opportunity.