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.
Also helping to increase spending was a trend Winnika dubbed the year of the guest.. Many couples provided a variety of wedding extras that pushed average per-guest spending higher by almost $10 per person to $204.More than a quarter of all weddings included shuttles or buses to transport guests to the ceremony and reception.ouples in Manhattan dropped the most cash, with an average wedding budget of $76,687. Other pricey wedding destinations included Chicago ($49,810), northern and central New Jersey ($48,496), Santa Barbara and Ventura, Calif. ($42,319) and Boston ($39,239).