Tax filing in 2014: 7 new rules and 9 wacky deductions

Tax filing season is here, so it's time to ensure you're ready to get the most out of your filing. Read on for new rules for 2014, plus several surprising deductions.

5. Same-sex couples can file joint returns

Steve C. WIlson/AP/File
Troy Williams, a local LGBT organizer, speaks to a crowd of supporters of gay marriage as they gathered to rally and deliver over 58,000 petition signatures in support of gay marriage to Utah Governor Gary Herbert at the Utah State Capitol Friday in Salt Lake City.

2013 was a big year for same-sex marriage, and this year’s tax filing proves it. Same-sex couples married in any of the 17 states that have legalized gay marriage can choose to file joint federal tax returns or married separate returns regardless of whether their current state of residence recognizes the marriages.

Same-sex couples can also file amended joint tax returns as far back as 2010.

However, this also means same-sex couples may hit the so-called marriage penalty, in which they may face fewer deductions and higher taxes when pooling incomes together.

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Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

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