'What legalizing gay marriage means for our money'

Should the Supreme Court strike down the Defense of Marriage Act, which defines marriage as solely between a man and a woman, same-sex couples will see big changes to their finances -- for better and for worse.

Mikey Rox and Earl Morrow

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  • Hometown: New York, NY


Mikey and Earl got hitched in Connecticut in September 2010. While it was a cause for celebration -- Connecticut was only the third state to legalize gay marriage -- the federal government still doesn't recognize their marriage, leaving them with a slew of extra costs that heterosexual couples don't have to pay.

Mikey, who is self-employed, gets his health benefits through Earl's employer-sponsored insurance plan. But since they aren't married in the eyes of the government, they're required to pay taxes on Mikey's benefits -- amounting to roughly $2,500 a year.

This cost would disappear if the Supreme Court votes to strike down the Defense of Marriage Act, a 1996 law that defines marriage as solely between a man and a woman.

They would also be able to boost their income tax refund by nearly $2,000 by filing jointly.

"I know what our relationship means to us ... so [striking down DOMA is] not as important to me symbolically as it is financially," said Earl.

- Last updated December 11 2012 06:01 AM ET

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