Here’s a quick rundown of what to expect starting January 1, when a bunch of current tax rules expire, and some new rules take effect. : The Bush tax cuts expire. That means the top rates on ordinary income goes from 35% to 39.6%; the top rate on capital gains goes from 15% to 20%; and the …
The federal 1996 Defense of Marriage Act doesn’t offer tax breaks for gay spouses even more because the federal government doesn’t recognize gay marriage it results in paying as much as $6,000 extra a year for the same sex couples. While filing jointly, as a married couple provides tax benefits, the same sex couples can …
MARRIED COUPLES VS. SAME SEX COUPLES? WHO PAYS MORE: BY CHICAGO CPA Read More »