SavvySugar

Gay Marriage Ban Hurts California Businesses

SavvySugar — Sun, 09 Nov 2008 07:00:01 -0800

After a busy Summer of fulfilling orders for flowers and cakes to be showcased at same-sex weddings all over California, vendors are now seeing their business cut at the worst possible time. Voters passed Prop. 8, which effectively bans same-sex marriage in the state, and the demise of gay marriage is unfortunately hurting the businesses that supported same-sex couples.

Merchants like San Francisco florist Christopher Burnett have expressed the economic impact Prop. 8 is already having: "I have done a gay wedding every week. And so it’s very disheartening, because other business is very slow." Mayor Gavin Newsom conceded that Prop. 8 is only good for Massachusetts and Connecticut, the two states where gay marriages are still legal and will likely see a boost in the number of same-sex weddings. Opponents of Prop. 8 have appealed to the California Supreme Court to reverse the measure, but until that happens, vendors expect business to be slow.

Do you know any couples who had to cancel their upcoming wedding because of Prop. 8?

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Real Estate Agents Already Chasing Same-Sex Newlyweds

SavvySugar — Thu, 19 Jun 2008 04:12:58 -0700

As same-sex couples have started exchanging teary vows in California, struggling real estate agents in San Diego have started another desperate marketing scheme as an attempt to get rid of some inventory.

Previously, a group of developers tried to find success in a buy one, get one free campaign directed toward anyone interested, and now a group of realtors are trying to capitalize on same-sex newlywed couples by offering them a convoluted discount. The promotion is being advertised on the Wellsford Realty website as the "Free Honeymoon Packages and Wedding Reception Offer," and is explained with this text.

Whether choosing to make California their primary or secondary residence by buying a home in San Diego, domestic partners seeking to take advantage of the new Same Sex Marriage Law in California can now get their wedding reception or a honeymoon getaway compliments Wellsford Realty. With the purchase of a condo or home using their services, Wellsford Realty is rebating 33 percent back on the commission, which can be used to celebrate their wedding day or plan that long awaited perfect honeymoon.

What do you think, will this deal have more takers than the unsuccessful buy one, get one free gimmick?

Gay Marriage Could Give CA Economy a Much-Needed Boost

SavvySugar — Wed, 11 Jun 2008 04:04:50 -0700

The California Supreme Court's decision to overrule the ban on gay marriage triggered a spectrum of reactions, and a recent study suggests that more than just same sex couples will benefit from the decision. A study by the Williams Institute at the UCLA School of Law concluded that same-sex couples will add $684 million to California's wedding industry and in three years will boost the state budget by $64 million.

Wedding vendors began to see business increase after the May announcement that CA would recognize same-sex marriage as of June 17. Gay couples have started planning their weddings and have been seeking out vendors to help put together their big days, and companies who have built their businesses around providing nontraditional services have found themselves in high demand. Hopefully more businesses will adapt to all of California's happy couples in the midst of wedding planning.

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How the CA Gay Marriage Ruling Affects Benefits and Taxes

SavvySugar — Mon, 19 May 2008 06:43:40 -0700

Some of the biggest domestic news last week was the announcement that California's Supreme Court overturned the ban on gay marriage. The ruling means that same sex couples will be able to obtain California marriage licenses and will be treated with the same state rights as heterosexual couples. In terms of benefits and taxes, CA has already been more inclusive of same sex couples than other states, and to find out exactly how the new ruling will affect these areas just read more

Because gay marriages won't be recognized by the federal government, certain rights will still be withheld from same sex couples that choose to tie the knot. In terms of benefits, not much will technically change from the existing CA domestic partnership law, but the language of marriage is important because it will make it easier for employers and health insurers to comply with the existing law. They're used to interpreting marriage as an entity but domestic partnership has caused for some confusion and non-compliance.

Couples already registered as domestic partners in California file their taxes as married filing jointly or married filing separately, so domestic partners who become married won't see much of a change in terms of taxes with the new ruling. They'll still have to file federal returns classifying themselves as single, which makes tax matters complicated.

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What's Money This Week

SavvySugar — Sat, 24 May 2008 07:07:19 -0700

This week we discovered how the CA gay marriage ruling will affect same-sex couples' taxes and benefits.
The IRS announced they're behind schedule with depositing rebate checks.
I gave new grads some advice for entering the post-college world.
Burnt out at work? We talked about ways to fight the burnout blues.
If you've been wondering how normal are your spending habits, Glamour told us which habits are normal.

Anger isn't usually one of the reactions we have here, but we were furious about this week's news in air travel.
Determined to go to the May 27 Sex and the City premiere in NYC? Craigslist has tickets for sale.
I shared three tips for organizing your receipts online.
And six tips for finding extra money to start your emergency fund!
Finally, I asked what you would do if a creepy ex-coworker followed you to a new job.

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