Daily Archives: May 19, 2020

Marriage helps in reducing the tax burden for husbands and wives who jointly file their taxes. Depending on their incomes, there is a way to avoid the known marriage “penalties.” If there is a substantial difference in the salaries of the spouses who are both taxpayers, the spouse paying for the lower tax can pull the spouse paying higher tax down into a much lower bracket than if the latter were to file taxes separately. This reduces the spouses’ overall taxes. Below are some tax advantages of married couples in Texas. 1. The spouses might be the tax shelter of each other The spouse who uses money can’t take advantage of some deductions. These deductions include those with regard to the house. However, the spouse who makes money can use the loss and consider it as a tax write-off.  2. The nonpaying spouse can have an Individual Retirement Account A spouse who is not working may contribute to an individual retirement account (IRA). The limit at which the benefits of the IRA are phased out, on the basis of income, is higher for married couples than for single people. Someone who could not pay into an IRA when they were single can utilize the joint income to fund an IRA and possibly save thousands of dollars for retirement while receiving tax benefits that are substantial. 3. Couples may “benefit-shop” If benefit packages are given to both spouses from their respective jobs, they can choose from the two plans the one that has the most valuable benefits. The right combination of benefits from the plans can increase the tax savings of couples in a lot of ways. For example, if the couple has children who are dependent, then both of them can find the use of the benefit plans like dependent […]

Are there Tax Advantages When You Get Married in Texas?   Recently updated !

illegitimate child
There are children all over the world that were born in less than ideal situations. These children do not have control over their circumstances, but are often subject to a level of discrimination or difficulty. Fortunately, the law in Texas offers degrees of protection. History The state of Texas did not provide inheritance rights for illegitimate children until 1991. That was the time when the Texas Supreme Court stated that the statutes that excluded illegitimate children from this right was unconstitutional, taking its cue from the United Supreme Court’s ruling. The ruling stated that depriving the rights of illegitimate children were a violation of the Constitution, specifically the equal protection clause.  The ruling stated that illegitimacy, like race or country of origin is beyond a citizen’s control. It is also not an indicator of his/her capacity to participate and contribute to society. Thus, using it as a basis for exclusion is a violation of the equal protection clause. Texas Probate Code  In accordance with that principle, the Texas Probate Code now states that illegitimate children can have the same inheritance from their parents as those of the legitimate children, under certain conditions. The key here is establishing paternity. There are many methods wherein a father can voluntarily declare that he is the father of a child. The most obvious way is through DNA testing, but he can also execute a voluntary statement of paternity in accordance with the Family Code or he can also legally adopt the child. The Probate Court also acknowledges consent forms signed by the father in cases of assisted reproduction, like in-vitro fertilization. It is also applicable to legitimate gestational agreements, provided the father is adjudicated to be the father. Once paternity is established, the child will gain inheritance rights as those with legitimate children.  In […]

Inheritance Rights of Illegitimate Children in Texas   Recently updated !

free range parenting
In an age where ideas can get really out-of-the box and radically different, it’s very hard to question if some of these ideas actually make sense or are just plain silly. And while sometimes these new ideas may actually be sound, there is a lot of room for misunderstanding and a need for people to adjust to it. This can apply to almost everything, even parenting. One perfect example would be the concept of “free-range parenting”. Free-Range Parenting No, it has nothing to do with letting your children just roam free in a pasture. But it does have to do with allowing your children to have a little more freedom to do things. By adopting this kind of parenting style, you allow your child to learn how to be a little more independent. This can allow them to make mistakes and learning on their own. This doesn’t mean that you leave them all on their own, though with absolutely no supervision. You just watch over them a little less, the opposite of what a “helicopter parent” would do.  Is It Legal? Free-range parenting is a rather new idea and its legality is still being discussed by each state. Since the parenting style allows you to give your kids more control and pushes for them to be independent, there are some instances where what you may do may be seen as neglect or putting your child in danger. One such example would be allowing your child to go to school and back on their own. States without and laws on free-range parenting such as Texas may see something like this as neglect on the part of the parents. And while this may not have been your intention, it may be hard to argue. It would be best to adjust your free-range […]

Can I Be A Free-Range Parent in Texas?