I am, by NO means, a budget expert. It’s some sort of miracle that Aaron and I came in under budget for our wedding. Despite this, one thing that we didn’t prepare for was the amount of tax that we would have to pay, and that stuff adds up SO quickly. I hope that today’s post will shed light on this sneaky, little, money-sucking monster, so you don’t have to be blind-sided by it!
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Unfortunately, there’s no way to get around taxes without getting arrested, so the best thing you can do is prepare for them!
-Before you start budgeting, find out exactly what your county/state charges for sales tax. Where we live, sales tax is 9.25%. Yes, you read that right… Absolutely crazy.
-While making your wedding budget, decide ahead of time whether the amounts that you set will include tax or if you’ll have an entire budget line to cover taxes.
-When meeting with vendors, ask if their prices include tax. Most of the time, they will not, so it’s better to know exactly what you’ll have to pay before you sign a contract.
-It’s pretty common to receive or win a free tux rental, toss bouquet, dress steaming, etc., but there’s still a chance that you’ll have to pay tax on those. Obviously, you’re still saving money, but just know that “free” usually isn’t totally free.
If you’re reading this and are still thinking that taxes aren’t really a big deal, let me put it in perspective for you. I live in Washington County, and like I said before, between the state and county, I have to pay 9.25% tax on everything I buy. Let’s say I was getting married (to Aaron again, of course, or maybe Robert Downey Jr… I don’t know), and I hired a caterer for my wedding with 200 guests. If I’m paying a modest $12 a plate for dinner, I’m also going to be paying $222 in taxes! And that’s assuming I don’t have to pay a delivery fee, set up fee, or an hourly rate for the wait staff. I realize that $222 might not seem like much, but once you add the tax for your venue, flowers, photographer, dress, decorations, videographer, gifts, etc., you can EASILY be paying a couple thousand dollars that you didn’t plan for! They say, “knowledge is power”, but in this case, knowledge is a happy fiancé, stress-less planning, and the only chance to have to stay on budget!
Happy Wednesday! :)