We are a same sex couple in Long Island, NY State. We have been filing individul returns so far. Same Sex marriage was legalized in NY in 2011 and we have had common law
marriage for 5 years of record
My W-2 salary is about $60,000 and I have added 1099 income from other jobs of about $20,000. I own the home as primary residence and use thoe deductions
on my return -- Value $400,000, Mortgage 30 year at 5.5%, $300,000 and then Taxes
at $16,700 annual
She has a position with W-2 income at $130,000 approx and then aboutv $18,000 on 1099 for independnt contracting counciling. She dueducts the loss from a small rental property we have where net loss is about $6000 a year (this property is in both our names). Between Federal andstate she is payngout $50,000 in tax filing single
We are thinking we would get great advantage by filing a joint ederakl 10 40 and Joint NY state versu what we have been doing
Can you make a guess as to what savings would be on joint Federal and State tax filing verus each of us filing as singles?
Can you say for sure that filing jointly would really make a difference in our combined tax liability?