Community Income

What’s yours is mine...and ours.

Community income is income earned by a married couple or common law couple who reside in a community property state. Together, that married couple is viewed as a community, albeit a community of two.

And…see the word “commune” in there? And/or Communist-ish vibe? Yep, community income is deemed to be owned equally by both parties. Marry someone who loves to play the ponies and loses the family bank account betting win, place, and show on RunsLikeAFish…and it’s your money they just lost as well, even if you were the one who earned and saved it in a separate bank account in the first place.