Many couples were forced to postpone their weddings in 2020 and 2021. With things opening back up, you may be planning your wedding this summer or may have already had it. Weddings are expensive, so it’s unfortunate that they aren’t tax-deductible! But wait, though tax write-offs may not be top-of-mind when you are planning your wedding, with careful planning, there are some ways you may be able to garner a tax deduction as you prepare to head down the aisle. Here are some ideas:
1. The Church:
If you are paying a ceremony fee, it may be tax-deductible. If not, ask whether the church waives ceremony fees for members who donate at a certain level. It may be worth upping your donations for the year to get a triple benefit: a fee waiver, a tax write off, and a warm glow from donating to a good cause.
2. The Venue:
If you are having your reception or getting married at a historical garden, museum or homestead, or even a state or national park, the fee you pay may be tax-deductible as a donation. Check with the site representative for more details.
Once your wedding is over, have a friend take the flowers to a homeless shelter, women’s center, or similar non-profit organization. Not only will you have done a good deed, but with a receipt, you’ll be able to take a tax deduction for the value of the items donated.
4. The Gown:
Donate your wedding gown to a non-profit organization such as Making Memories or Brides Against Breast Cancer, and you’ll help others enjoy their special day in style. The same goes for the flower girl and bridesmaid dresses, as well as candles and other decorations that won’t spoil.
5. The Food:
Thanks to the Good Samaritan Food Donation Act, you may be able to donate the leftovers. Ask the caterer to package the leftovers and then you or a designated person from your team can drop them off at an IRS recognized non-profit organization that feeds others in need. The organization will give you a donation letter that you can use as proof of charitable contribution.
6. Wedding Favors:
Instead of soon-forgotten trinkets, make a donation to a charity on behalf of everyone at your wedding as a “thank you” for them being a part of your special day. You’ll help others while garnering yourself a tax deduction! You might even let your wedding party choose the charities they treasure.
7. Gift Registry:
Along with a traditional gift wish list, you can create a charity registry through My Registry and encourage guests to donate to your favorite cause. Donations are tax-deductible so your guests can feel good while giving back and celebrating you at the same time.
Keep in mind that in order to claim a tax deduction for charitable donations, you have to donate to a not-for-profit 501(c)(3) charitable organization and typically you have to have enough tax deductions to itemize your deductions. Under the Coronavirus Response and Relief Supplemental Appropriations Act, you can deduct up to $300 in cash donations in tax year 2021 if you claim the standard deduction and you are single and up to $600 in cash donations if you are married filing a joint return.
Be sure to document your donations with receipts and contracts, so you’ll have the documents available at tax time. Then you can claim your tax deductions, boost your tax refund, and have extra funds to toast your wedded bliss.
Don’t worry about knowing these tax rules. No matter what your situation or how you want to file, TurboTax has you covered. With TurboTax you can do your taxes yourself, get help from an expert along the way or hand them off from start to finish to a dedicated tax expert, available year round in English and Spanish.If you have multiple weddings to attend this summer Mint shares some great ways to budget for wedding season so you can attend every event.