the skinny on your wedding taxes
Friday, August 1st, 2008
Taxes. A four-letter word? Obviously not, but it feels like it.
As with any big purchases, taxes will affect your final sales price. Your wedding is no exception. Remember to include your state taxes on projected expenses, such as:
invites
photography albums/photos
dress and tuxes
florist
venue (we’ll talk more about that…..)
Make sure you have a clear estimate from your venue on how much they tax their services and product. For example, some venues here in Evansville, tax their gratuity.
So, here is what your final bill will look like:
19% gratuity
6% tax on the final gratuity
7% sales tax (goes to the state)
1% food and beverage tax
= 33% total possible taxes
What does that mean to you? That $19.95 per plate meal that you are deciding upon, because you thought it fit within your budget, is now $26.53 per plate!
Staggering isn’t it? That’s why you want to really have everything in writing and ask question after question if you don’t understand. There are no stupid questions! Or hire a wedding planner. Either way…get the skinny on the true tax picture!
Plan on! -saundra
