Updated for Tax Year 2014. OVERVIEW. Tax deductions allow you to reduce the amount of your income that is subject to income tax. These deductions are based on a variety of factors. Some relate to expenses you pay during the year while others are fixed by the government and have no relation to any costs you incur.
The price of weddings has jumped to a new all-time high, reaching an average $31,213 in 2014, new research says. Surveying around 16,000 American couples, the Knot 2014 Real Weddings Study also found that 45% of weddings exceed a coupleâs budgets and, more worryingly, 23% lack a budget altogether. Most brides spent an average of $1,357 alone on their wedding dress. At the same time, guest lists are shrinking even as costs rise. âThe average wedding now has 136 guests, down from 149 in 2009,â says the Knotâs Rebecca Dolgin. The cheapest place to tie the knot was Utah, where couples spent only $15,000 on the big day in 2014. The most expensive place for nuptials was Manhattan at $76,328.
In other words, a wedding that costs $5,000 is less complicated and time consuming than a wedding that costs $50,000. Wedding planners who base their fee as a percentage of the budget charge from 10 to 20 percent.he average wedding costs about $25,000 according to TheKnot.com. If you live in Manhattan the average was $65,000 in 2012, while weddings in Milwaukee averaged only $14,600. When you're spending that much money it makes sense to hire an expert wedding planner to help.