Can i deduct wedding expenses

Even if you invite lots of your customers, vendors and business associates, your wedding or your child's probably isn't deductible. Merely hanging out with your customers, whether at a wedding or a sports bar, doesn't give you a write-off.

Events and get-togethers are only deductible if you discuss business during the event, immediately before or immediately afterward. The business discussion has to be substantial in relation to the event. The IRS judges "substantial" on a case-by-case basis, but a half-hour meeting after the reception might not cut it.

If your business is wedding planning, catering or flowers, you might be able to deduct at least part of the costs as a promotion. One of the most alluring benefits of being self-employed or running a business is the ability to write off a variety of business expenses for tax purposes. Under the Income Tax Act, an individual is permitted to deduct legitimate business expenses incurred for the purpose of earning income. But if you push the envelope of expense deductibility, either by claiming questionable expenses with little business purpose or by overstating the amount of your expenses, you could see your tax deduction for the suspect expenses be denied and end up on the hook for tax owing and arrears interest.

And those are exactly the stakes that were on the line in the recent tax evasion case involving a wedding. The case was an appeal from a lower court decision in which the judge convicted the Toronto-area taxpayer and the company he owned of willfully evading taxes by making false statements on personal and corporate income tax returns.

It employed two bookkeepers and hired a certified accountant to oversee their work. Several family members, including the son, were also employees of the company. These included invoices for the reception, bus transportation from Toronto to Montreal, accommodations and breakfasts for participants and guests. The CRA investigator testified that he had interviewed two persons who attended the wedding and asked what their purpose was for attending and whether there was any talk of business at the event.

The two told him it was just to attend the wedding. The investigator testified that he understood that customers of the company had been invited, but he could not pin down how many had shown up or what business was conducted to make it a business event.

Nevertheless, the trial judge convicted the taxpayer and his company of tax evasion, finding that the wedding-related expenses were personal expenses illegally claimed by the taxpayer as business expenses and that the taxpayer made the claim knowing them to be personal expenses. TurboTax ItsDeductible will help you accurately value and track your donations year-round and then the information can easily transfer to your TurboTax return. If you have questions, you can connect live via one-way video to a TurboTax Live tax expert with an average 12 years experience to get your tax questions answered.

TurboTax Live tax experts are available in English and Spanish and can also review, sign, and file your tax return or you can fully hand off your taxes to them. 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.

Now, this is really cool! I would have never thought of this. Sharing the dress and everything else that can be upcycled for someone else to enjoy. 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 can garner a tax deduction or two. Hi Lisa, The venue we are having our wedding at is a historic building that is being restored in the community.

The organization we write the check to is a c3. Would this be deductible? The groom called off the wedding two days prior to the wedding. No matter the budget for your big day, the final tally for wedding costs is usually more than what couples anticipate.

If you got married last year and are preparing to file your taxes, check out the five tax deductions that you may be eligible for, below! Photo by Valorie Darling Photography.