With the average wedding costing almost $30,000 before the honeymoon, it is understandable why many brides and grooms are looking for ways to save money. While it is not guaranteed that the photographer and wedding cake will come cheap, you may be able to deduct some of your wedding expenses and save some cash when it is all said and done.
Let’s be clear, there is no such thing as a wedding tax deduction, but you may be able to save with these creative tax-saving tips.
Give Your Wedding Dress to a Charity
The wedding dress is center stage on the day of the wedding, but after the reception most dresses are worn and torn on the bottoms and are placed in the back of the closest never to be tried on again.
If you can part with your gown, there are a number of charity groups that would take your dress donation. Organizations like The Bride’s Project or Brides Across America take unwanted wedding and bridesmaid dresses, and give the proceeds to worthy causes. As an added bonus to feeling good, you will receive tax breaks for charitable donations.
Many brides and grooms decide to marry in church or worship center. If you plan to the do the same, chances are the fees are tax-deductible. Make sure you are paying fees to a non-profit entity, not an individual vendor or sole proprietor, their fees will not be considered tax deductible.
Edibles and Decor
If you have unspoiled food or wedding supplies left over after the reception ends, consider donating these items to a local food drive or homeless shelter. Not only will you feel good about not being wasteful, you will also be helping feed someone in need.
Make sure to make arrangements to transport the food right after the party ends and be sure let the caterer know what you are planning to do, that way they can provide you with the necessary food storage containers. Also, make sure to get a receipt that indicates the value of the food you are donating so you don’t get in trouble when tax season rolls around.
You may want to get creative about what you can salvage from your wedding day, and donate those items to a charity as well. Drop your flowers off at a hospital or nursing home, and again remember to keep your financial records in order. Organizations like Petals With Purpose donate your flower arrangements to those in need and can provide you with tax receipts.
No matter how you decide to donate, make sure you read over IRS Publication 526.