Tax Deductible Wedding Expenses You Need to Know
If you’re getting married soon, understanding tax deductions is a major win! So what does “tax deductible” actually mean? It simply means certain expenses can be written off to lower your taxable income so you owe less in federal and state taxes. When filing your return, you’ll choose between the standard deduction (a fixed amount set by the IRS) or itemized deductions (a list of specific qualifying expenses). Wedding-related tax deductions only apply if you itemize and those donations push you above the standard deduction. Now let’s break down which wedding expenses may be tax deductible!
Any wedding donation that is tax deductible must be to a qualified qualified 501(c)(3) organization. So what does “qualified 501(c)(3)” actually mean? A 501(c)(3) is a nonprofit organization approved by the IRS where donations may be tax deductible. Some examples of these organizations include:
Churches & religious organizations
Museums
Historical sites
State and national parks
Homeless shelters
Food banks
Hospitals
Nursing homes
Women’s centers
Catholic Church my husband and I got married at! Yes - Catholic Churches a qualified 501(c)(3)org!
Venue Fees of a Church, Museum, Historical Site, or Public Park
Venue fees for a a qualified 501(c)(3) non-profit or charitable organization (such as a church, museum, historical site, or public park). In this specific scenario, a portion of the payment might be considered a charitable donation, but only if specific criteria are met:
Payment must exceed Fair Market Value (FMV): You can only deduct the amount of your payment that exceeds the FMV of the services or rental use you received. The fee for the actual use of the venue for the wedding aka the FMV is not deductible.
Separately Stated Donation: The venue must structure the contract to explicitly state the donation amount paid as a gratuitous donation separate from the rental fee for the wedding.
Documentation is Mandatory: You must obtain written documentation from the organization that confirms the charitable contribution and the value of any goods or services provided in return.
Overall, any charitable donation that is greater than the FMV amount of the wedding service or a separate donation to the organization with no expectation of anything in return qualifies as tax deductible.
My beautiful floral centerpieces at my wedding
Flower and Food Donations
You can claim flowers and food donations as a charitable tax deduction if they are donated to a to a qualified 501(c)(3) nonprofit organization such as a homeless shelter, local shelters, women's center, hospital, nursing home, or food bank for their fair market value (FMV). The FMV is the value of the flowers or food at the time of the donation (not the original purchase price for the flowers or food). You must get a written acknowledgment or receipt from the organization detailing the date and description of the donated items.
My stunning Monique Lhuillier wedding dresses that I got at a sample sale!
Wedding Dress and Wedding Decoration Donations
You can claim your wedding dress and wedding decor as a charitable tax deduction if they are donated to a qualified 501(c)(3) nonprofit organization like Goodwill or Salvation Army stores. You must obtain a formal receipt or written acknowledgment from the charity for any donation. For non-cash donations valued over $500 or even over $5000, you will need to fill out From 8283. Form 8283 is basically a form you fill out to report that you donated noncash charitable contributions.
Overall, not every wedding expense is tax deductible but charitable wedding costs can be used as tax deductions if they are a qualified 501(c)(3) organizations, know the fair market value, and get proper receipts and documentation. A little planning to give back to charity can turn “I do” into real tax savings! As always, consult with your tax CPA on any wedding tax deductions. Let me know how you plan to give back and get those tax benefits for your wedding!