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Monday, May 19, 2014

Book Weddings in Parks or Museums to Save Big (and Get a Tax Break)

Book Weddings in Parks or Museums to Save Big (and Get a Tax Break)


Weddings are massive money sinks, especially the bigger and more involved it gets. US News Money has several suggestions to keep costs down, but one stood out to us: Instead of ballroom or banquet hall, try a museum, park, or public space owned by a non-profit. It's cheaper, and you might get a tax deduction, too.


This is just one tip from a great piece on ways to save money on weddings, even if you're already planning on a small one or to elope and give up the hassle entirely. The piece explains:


Restaurants, hotels and lofts make for lovely venues, but consider booking your fete at a museum, fraternal lodge, garden or park instead. If it’s run by a not-for-profit organization, the location fee may be tax deductible. Just check with the venue and your accountant to make sure.

That latter part is important—just because you're giving the money to a not-for-profit doesn't make your entire wedding a tax writeoff, but you may be able to deduct some of the expenses of reserving the location as a tax-deductible gift to the organization. To boot, many museums and public parks are known for their beautiful halls and open spaces, so you'd wind up having a special day far more memorable than walking down the aisle at "Ballroom H" at the local Doubletree.


The piece is full of other great suggestions as well that you can take or leave, like skipping the cake altogether (it may be tradition, but who remembers the kind of cake their friend had at their wedding—it's more for the couple than the reception), picking off-peak times, having a friend officiate the service, or, heaven forbid, getting married in a dress that's not white. Hit the link below for more.


6 Ways to Trim Your Wedding Budget | US News Money


Photo by Michael.


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