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(how•to)guide
Have a Luxe Wedding for Less
Every bride loves a deal-not to mention low-priced reception elements that are so stunning they appear to have cost a fortune. On these pages, we show you a sampling and give you tips for creating a beautiful black tie-style bash without blowing your budget. Form a gilded color palette to lush (yet frugal) florals to new ways to dress up your reception tables, these are insiders' best cost-cutting tricks. They're easy to pull off, with products and materials widely available, so you can effortlessly avoid spending more than you'd planned. |
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Q. Which wedding donations are write-offs?
A.
"If you make a cash donation in lieu of favors, just be sure your charity is registered with the IRS, and then you can write is off" says attorney Terrence A. Oved, of Oved & Oved in NYC. (Log on to irs.gov to ensure the IRS recognizes all of your chosen charities.)
To donate your dress, you will need to estimate the fair market value of it, which is usually far less than the price you paid, according to Oved. To price it, ask a consignment shop what it would sell the dress for. If it's valued between $250 and $500, you simply need a written receipt from the charity. If it's valued between $500 and $5,000, you will also need to fill out Section A of Form 8283. Anything more than $5,000 will need a written appraisal along with Section B of Form 8283.
As for your church or synagogue donation, check with a tax expert to see if you can claim anything. It's not a given because you did receive a service in exchange for your donation. Unfortunately, leftover food is not generally deductible because it has limited shelf life and, therefore, little value. So if you donate these goodies, Uncle Sam will likely have to be left out. |
