Use deductions carefully.
When to deducting wedding expenses can be a tricky question. Some expenses can earn you a deduction but it will largely depend on whether they are tied to a business cost. Think twice before you deduct things like wedding catering because half of your guest list consisted of clients.
Benefits
Writing off wedding costs reduces your tax liability for the year in question and may increase your tax refund.
Considerations
Consider whether you are willing to endure an audit for your attempted deductions. Quirky write-offs are red flags for the IRS.
Donating
Donating to charities in lieu of giving favors qualifies for deductions. If you donate your wedding dress to a women's shelter or your flowers to a nursing home, you can earn more deductions.
Documentation
If you are writing off your honeymoon as a business trip, keep a log of activities like appointments and what business was transacted. A paper trail of receipts will back up your case.
Expert Insight
Have a CPA field your questions about attempted deductions before you file. It could save you thousands in unpaid taxes.
Promotion
If you are a florist who arranged her own wedding flowers, you could deduct a portion of expenses. But you must prove you were promoting your business: Were pamphlets on their dinner tables? Was a demonstration performed?
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