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  • Welcome to Kiss My Tulle, where the weddings are big but the budgets are small. I'm Cris Stone and I live in San Antonio, Texas (by way of Salcha, Alaska) with my new husband (The Boy), our baby girl (Melanie), puppy (Hank), and cat (Caira).

    I'm excited to share my ideas on creating the wedding of your dreams on an affordable budget.

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05 October 2012

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Nora Rose

As an accountant, I challenge the tax deduction. You can definitely still get one and the chances of being audited are slim, but you can't simply deduct it. If you make a donation and receive value, i.e. a charity gala event ticket or raffle, you cannot deduct the fair market value of the service or item you receive. If you donate $500 to the gala and the value of the meal and entertainment is $100, you can only deduct $400. Winning a large raffle prize usually cancels out the donation ticket and you may even owe taxes on the prize.

On the same premise, if you make a $500 donation to your church, and officiants in your area are normally $250, you can only deduct $250.
http://www.irs.gov/uac/Eight-Tips-for-Deducting-Charitable-Contributions

However, don't want to knock you because I love the budget tips, just wanted to prevent any (extremely rare but annoying) audit errors! ;) You'd have to really misstate your taxes to be hit with an IRS penalty but it's good to note!

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