Pope Francis Pushes the Church Another Step Further on Gays – The Daily Beast

http://www.thedailybeast.com/articles/2014/10/16/pope-francis-s-family-synod-not-an-earthquake-but-a-big-tremor.html

Marlene Asdourian CBC

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6 Major Tax and Financial Implications of Gay Marriage Ruling

The impediments to same-sex marriages throughout the country are being washed away. This trend has continued in the wake of the landmark Supreme Court decision last year (Windsor v. U.S, No. 12-307, 6/26/13) invalidating Section 3 of the Defense of Marriage Act (DOMA).

In the latest development on October 6, 2014, the U.S. Supreme Court refused to hear cases from five states — Indiana, Oklahoma, Utah, Virginia and Wisconsin – where same-sex marriage is prohibited by state law. If six other states covered by the same circuit appeals court — Colorado, North Carolina, South Carolina, Kansas, West Virginia, and Wyoming – drop their bans as expected, the number of states allowing same-sex marriage would increase from 19 to 30, or more than half the 50 states.

What are the financial repercussions? Although certain aspects are still being sorted out, here’s a brief summary of the lay of the land in several key areas.

Income taxes: The IRS says a same-sex couple should be treated like a traditional married couple for all federal income tax purposes if they’ve entered into a marriage in a state where such a marriage is legal. It doesn’t matter if the couple resides in a state where same-sex marriage is banned. If a couple chooses to do so, it can file an amended return for a open tax year, but they’re not obligated to do so. State law still control for state income tax purposes.

Estate and gift taxes: Under federal law, the unlimited marital deduction generally shelters transfers between spouses from estate and gift taxes. Because same-sex couples are now treated like traditional married couples, planning opportunities exist. For instance, documents such as wills and trusts may be revised to maximize the benefits of the federal estate tax exemption, including using the portability provision for any remaining exemption of a deceased spouse. Naturally, state law controls concerning state death and inheritance taxes.

Social Security benefits: Prior to the Windsor decision, a surviving spouse in a same-sex marriage wasn’t eligible to receive Social Security retirement benefits based on a deceased spouse’s earnings record. Now such a claim may be filed with the Social Security administration (SSA) if a couple was married in a state permitting same-sex marriages and the survivor resides in a state recognizing same-sex marriage. However, for the time being, the SSA says it will continue to follow state law on other claims.

Qualified retirement accounts and IRAs: The rights and benefits for same-sex married couples now mirror those for traditional married couples if one spouse participates in a qualified retirement plan like a 401(k) plan – regardless or whether the employer is based in a state recognizing same-sex marriages. Thus, a surviving spouse in a same-sex marriage may benefit from favorable distribution rules under the law. Similarly, rules benefitting a surviving spouse of an IRA holder are extended to a surviving spouse in a same-sex marriage.

Employee benefits: Employees may be eligible for employer-provided fringe benefits like health insurance. Previously, if a health insurance plan covered a same-sex spouse of an employee, the employee spouse was taxed on the value of the coverage. Now the coverage is tax-free — just like it is for spouses of traditional marriages. Other rules involving fringe benefits involving employees in same-sex marriages are still evolving .

Divorce: While it is definitely getting easier these days for same-sex couples to get married, the same is not necessarily true for divorcing. It is especially complicated if a couple was married in a another state permitting same-sex marriages but seek a dissolution in a state where such marriages aren’t allowed. Again, the laws in this area are still evolving, so you can expect more developments in the near future.

FREE for (LGBT Families) Tax Review

This week is the first week into the month Rex Doflinger and Associates is offering Free tax reviews to LGBT families going back to 2011, 2012, & 2013. Every family or married couple falling into the category, should take advantage of this free offer as their potential refunds might be great. Rex Dodlinger & Associates have made it really easy for the LGBT families and couples to take advantage of this Free offer by simply dialing (818) 934-0578 and Avo Asdourian, EA and LGBT Tax expert will personally help you and guide you through the process.    

Marlene Asdourian CBC

The Supreme Court has turned away appeals from five states seeking to prohibit same-sex marriages

Monday, October 06, 2014

The Supreme Court turned away appeals Monday from five states seeking to prohibit same-sex marriages, paving the way for an immediate expansion of gay and lesbian unions.

The justices on Monday did not comment in rejecting appeals from Indiana, Oklahoma, Utah, Virginia and Wisconsin. No other state cases were currently pending with the high court, but the justices stopped short of resolving for now the question of same-sex marriage nationwide.

The court’s order immediately ends delays on marriage in those states. Couples in six other states – Colorado, Kansas, North Carolina, South Carolina, West Virginia and Wyoming – should be able to get married in short order. Those states would be bound by the same appellate rulings that were put on hold pending the Supreme Court’s review.

That would make same-sex marriage legal in 30 states and the District of Columbia.

FOR ASSISTANCE WITH YOUR TAX QUESTIONS CONTACT LGBT TAX EXPERTS

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TODAY, LGBT TAX EXPERTS KICKOFF FREE TAX REVIEW FOR THE LGBT COMMUNITY.

LGBT TAX EXPERTS

Friday Oct 3

Rex Rodlinger and Associates – kicked off their Free Tax Revie3 things picture_001ws for the LGBT families going back to 2011, 2012, and 2013.

Since Avo Asdourian, EA specialized in the new tax laws that applied specifically to the LGBT families, he wants to make sure all effected by the new tax laws come forward and have their taxes reviewed for free since the possibilities to get a refund is very high. Rex Rodlinger and Associates are making sure the Temple city location’s staff is equipped and ready to help the LGBT families with their questions.

“This year, October will be dedicated to the LGBT families, starting today,” said  Avo Asdourian, EA, “to get the Free Tax Review, contact us at the Temple City location and we’ll make sure all qualified will get the maximum benefits and refunds”

Click here to Contact US for more info

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TODAY, LGBT TAX EXPERTS KICKOFF FREE TAX REVIEW FOR THE LGBT COMMUNITY.

Friday Oct 3

Rex Rodlinger and Associates – kicked off their Free Tax Revie3 things picture_001ws for the LGBT families going back to 2011, 2012, and 2013.

Since Avo Asdourian, EA specialized in the new tax laws that applied specifically to the LGBT families, he wants to make sure all effected by the new tax laws come forward and have their taxes reviewed for free since the possibilities to get a refund is very high. Rex Rodlinger and Associates are making sure the Temple city location’s staff is equipped and ready to help the LGBT families with their questions.

“This year, October will be dedicated to the LGBT families, starting today,” said  Avo Asdourian, EA, “to get the Free Tax Review, contact us at the Temple City location and we’ll make sure all qualified will get the maximum benefits and refunds”

Click here to Contact US for more information

or call us Rex Rodlinger and Associates at (626) 808-5680

FREE LGBT TAX REVIEW

Federal Tax Laws Apply to you.

3 things picture_001This Friday Rex Rodlinger and Associates are set to kick off their campaign to review the past 3 year’s tax returns for the LGBT community for free and educate the LGBT community about the new family tax laws that will change everything. “This is a new era for the LGBT community and The LGBT community should take advantage of the current federal tax laws,” said Pasadena resident Avo Asdourian, EA an expert on the LGBT community Tax laws. Here are the 3 things LGBT community should know:

  1. Get your Taxes Reviewed by an LGBT Enrolled Agent Tax Expert for best analysis.
  2. You May benefit by a refund. For qualified LGBT couples, Tax Returns will be offered to be amended by Rex Rodlinger.
  3. Rex Rodlinger is offering FREE review for 2011, 2012, 2013 exclusively for the LGBT community.

FREE LGBT TAX REVIEW
STARTING October 3, 2014 FOR A LIMITED TIME
5819 Temple City Rd Temple City, CA 91780
Accepting Appointments (626) 808-5680
For your convenience, Reviews are also provided Online.

TAXES: 2015 Tax Rates, Brackets & Exemption Amounts May Save Taxpayers Money

The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has dropped off by .2%. The dip was not expected and is the first decline in more than a year; the last such decline was April 2013. In contrast, if you take out adjustments for food and energy, the core CPI didn’t budge at all: it’s the first time that’s happened in four years.

http://www.forbes.com/sites/kellyphillipserb/2014/09/17/2015-tax-rates-brackets-exemption-amounts-may-save-taxpayers-money/

Tax Information About Same-Sex Marriage

IRS YouTube Video:

IR-2014-22, March 6, 2014

Following last summer’s Supreme Court decision invalidating a key provision of the Defense of Marriage Act, the IRS ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, are now treated as married for federal tax purposes. The ruling applies to all federal tax provisions where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA and claiming the earned income tax credit or child tax credit.