December 13, 2013
LGBT Practice Co-Leaders Nanette Lee Miller and Janis Cowhey, Quoted in The Metropolitan Corporate Counsel Article, "Marcum's LGBT Group Releases Top Tax Planning Tips For Same-Sex Married Couples."
The Lesbian, Gay, Bisexual & Transgender (LGBT) Practice group of Marcum LLP, a top national accounting and advisory firm, has released its Top 10 Tax Planning Tips for Legally Married Same-Sex Couples. The guide provides a preliminary roadmap for same-sex married couples in the first year they will file taxes since the federal government officially recognized same-sex marriage for tax purposes.
"Since the Defense of Marriage Act was invalidated by the Supreme Court in June, 2013 is the first tax year same-sex married couples will be able to file joint federal tax returns," said Nanette Lee Miller, national leader of Marcum''s LGBT Practice. "We are advising all our clients to take full advantage of the tax planning opportunities now available to them and to be proactive in leveraging tax provisions previously accessible only to heterosexual families."
"Estate planning is also an essential component of effective tax planning and wealth preservation," said Janis Cowhey McDonagh, co-Leader of the firm''s LGBT group and a trusts and estates attorney. "2013 is a brand new environment for same-sex married couples looking to minimize their tax exposure. It is important to consider the full range of options for protecting their families and their assets."