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When are Joint Taxes but Separate Finances Smart? - Queer Money Ep. 231
Description
For LGBTQ married couples who normally keep their finances separate, the prospect of filing taxes jointly may seem complicated. How do your divide up the taxes you owe in a way that’s fair to both of you? Would it be easier just to file separately?
Harvey Susnick is a Partner at Berdon LLP, a leading accounting and advisory firm based in New York City. Harvey has four decades of experience as a CPA, running his own firm for 20 years before merging his practice into Berdon in 1998. He leverages his financial expertise to help individuals, families and couples (traditional and LGBTQ) make informed decisions and create retirement plans that align with their goals.
On this episode of Queer Money, Harvey joins us to address Queer Money listener Ben’s question around filing taxes as a married couple—when you normally keep your finances separate. He explains the pros and cons of filing jointly versus separately, describing how a couple’s income differential might impact their decision. Listen in for insight on what to consider when you or your partner are a 1099 employee and get his top money advice for married LGBTQ couples.
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