Have any of you ladies heard about not-for-profit wedding venues being eligible as a tax deduction? I just heard about this, and our venue is a not-for-profit botanical garden. All membership donations are tax deductible, and the statement at the bottom of the wedding pricing sheet states, "Rental fees directly support the Garden's mission - to inspire all who enter to become partners with nature, by preserving and perpetuating a nurturing environment for horticulture excellence, aesthetic enjoyment, educational opportunity, research and appreciation of the botanical and agricultural heritage of this region."
I just heard about it, and haven't contacted my venue yet to check...but wanted to know if it could really work.
Re: Tax Deduction on Wedding Venue?
If it's a 501c(3) then your venue should be familiar with the forms that acknowledge the contribution. That's what you'd need for your tax preparer to make the deduction on your forms.
Basically your venue needs to send you the form that they send other donors. It's a "thank you for your donation in the amount of XYZ. Please continue to donate in the future..yada yada"
Most likely, your venue won't send you this form. Renting the location is an "exchange transaction" so you're getting something for your money, that's not tax deductible.
I think of it like buying Girl Scout cookies, the cost of the cookies isn't tax deductable because you're getting something in return, but if you just give the Girl Scouts $100, that's deductible because you got nothing in return.
So in short. Ask if they consider it a contribution or a rental. And if it's a contribution ask if they'll send you a donor form. If they do, then deduct the amount that's on the form!